VIP - Laytime Terms

Note: This form already includes standard terms.

Laytime Terms describe when ports are open for loading and discharging.

On the Data Center menu , under Charter Party Terms, click Laytime Terms.

To add a new Laytime Term:

1. Add a new row:
   • To add a line to the bottom, click in the last row.
   • To insert a line above another line, right-click it and then click Insert.
2. Complete the fields.
3. Save the form.
4. Right-click the new term and then click Subterms.

On the Subterms form:

1. Enter the times to be included in Laytime.
2. Close the Subterms form and save the Laytime Terms form again.

In the Factor column:

1. Hovering over this field will reveal the description: "A factor by which to multiply loading/discharging time to accommodate the port's open hours.
   The formula for calculating Factor is: Factor = Total Possible Laytime Hours ÷ Total Laytime Term Hours 
2. Users will need to manually calculate and enter the Factor value accordingly.
   Example: Total Possible Laytime Hours for a week (7 Days) sums to 16800 (or simply 168 hours).
   A user creates a new Laytime Term where Saturdays and Sundays are excluded. Total Laytime Term Hours calculate as follows: 5 days * 24 hours in each day = 120 total hours
   Therefore, Factor would be calculated as follows: 168 Total Possible Laytime Hours ÷ 120 Total Laytime Term Hours = 1.4000