Define: Laycan

How is Laycan defined in a legal contract?

• Laycan means the earliest and latest possible dates when a journey can start and after which the renters can choose to cancel the charter journey. Seen in 18 SEC filings.
• Laycan means the set time frame during which the customer has to signal to the owner that the vessel has arrived at the anchorage or the usual place of wait and is ready to start loading. Seen in 6 SEC filings.
• Laycan means an agreed time span between the user and [organization] which corresponds to [number] calendar days, during which a vessel should provide a valid readiness report for loading, in accordance with these shipping regulations. When a vessel arrives during her laycan it is considered that she has arrived on layday. Seen in 6 SEC filings.
• Laycan means a specific duration within the layday period and the earliest date at which loading can begin and the latest date upon which the vessel can reach its assigned loading place without being at risk of cancellation. Seen in 4 SEC filings.
• Laycan means the duration in days during which a scheduled vessel has to unload cargo. Seen in 2 SEC filings.
• Laycan means the time in which a vessel must reach the loading port, defined by an end and start date. Seen in 2 SEC filings.
• Laycan means an agreed date range within which a Vessel shall arrive at Load Port or Discharge Port and tender readiness for loading of Crude Oil or discharge of Petroleum Product. Seen in 1 SEC filing.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of laycan' yourself to verify these results. We are always keen to point people to source documents.

‍

Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

‍

Genie Definition 1

Laycan means the agreed time frame for a vessel to arrive and initiate load or discharge procedures.

Relevant Contract Types

• Maritime Shipping Contracts
• Supply Chain Contracts
• Charter Party Contracts
• Freight Forwarding Contracts

Relevant Circumstances

• When a company charters a boat for specific shipping operations.
• When there is a logistics agreement between a shipper and a carrier.
• When a cargo agent is negotiating the laying schedule of the ship.
• When a purchasing company needs to understand shipping timelines for their orders.

Relevant Sectors

• Maritime Transportation
• Logistics and Freight Services
• Commerce and Trade
• Manufacturing

‍

Genie Definition 2

Laycan means the specific period a booked vessel has to unload its cargo.

Relevant Contract Types

• Port Terminal Service Agreement
• Cargo Loading/Unloading Contracts
• Harbor Handling Contracts

Relevant Circumstances

• When a cargo vessel is booked for unloading at a particular port terminal.
• When there is a contractual obligation on the timeline of cargo handling.
• When a company is in charge of harbor cargo services and must schedule available time slots.

Relevant Sectors

• Seaports Industry
• Cargo Services
• Harbor Handling Services

‍