GlossaryEN1 min readUpdated: Jun 22, 2026
Notice of Readiness
The Notice of Readiness (NOR) serves one core purpose: to trigger the commencement of laytime under a charter party.
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Source: https://www.investopedia.com/terms/n/notice-of-readiness.asp
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Definition & Explanation
The Notice of Readiness (NOR) serves one core purpose: to trigger the commencement of laytime under a charter party. By tendering the NOR, the vessel's master or agent formally notifies the charterer or port authority that the ship has arrived at the agreed destination and is ready to begin loading or discharging. From the moment the NOR takes effect, the laytime clock starts running – the period during which the vessel may be occupied without additional charge. If the charterer exceeds that period, demurrage becomes payable; finishing ahead of schedule may entitle the charterer to dispatch. The precise effect of the NOR turns on the charter party wording, particularly whether the vessel qualifies as 'arrived' when anchored in the roads or only once berthed at the quay. The NOR must be submitted in writing and acknowledged by the charterer; the exact time and manner of tendering can carry significant financial consequences in any dispute.
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