Would you please explain what does "exposure lies" mean in below sentence? Does it mean point of interest!?
The definition of "Demurrage and detention" varies and hence the shipping line needs to know where their exposure lies.
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1 Answer
Demurrage relates to detaining (detention of) a ship (or sometimes other cargo hauling vehicles) beyond the time allowed for loading or unloading. There may be a cost penalty for doing so.
"Exposure" here means exposure to risk or liability. "Where their exposure lies" means "what are the potential sources of risk or liability" related to, or stemming from, demuurrage and detention.
