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LSDefine
Simple English definitions for legal terms
keyage
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A quick definition of keyage:
Term: keyage
Definition: Keyage is another word for quayage, which is a fee charged for using a dock or wharf to load or unload goods from a ship. It's like paying for a parking spot, but for boats.
A more thorough explanation:
keyage
Keyage is another word for quayage, which is the fee charged for the use of a wharf or dock for loading and unloading cargo from a ship.
- The shipping company had to pay a keyage fee to use the dock for unloading their cargo.
- The port authority increased the keyage rates to cover the cost of maintenance for the wharf.
These examples show that keyage is a fee charged for using a dock or wharf for loading and unloading cargo. The first example illustrates how a shipping company had to pay this fee to use the dock, while the second example shows how the fee can be increased to cover maintenance costs.