Notice of Readiness
The Notice of Readiness (NOR) is the document used by the captain of the ship, in the event of voyage chartering, to notify that his ship is ready, in every respect, to load and/or unload the goods.
In the event of voyage chartering, the charterer has a certain term within which the loading and unloading activities must be carried out: the lay days. When exceeding the lay days, the charterer must pay the shipowner compensation (demurrage). Depending on the moment when the NOR is issued, the lay days count start.
In the event of a weather-sensitive cargo (e.g. grains that must be kept dry), the term “weather lay day is used” or “weather working days”. In that case, periods of weather unsuitable for loading or unloading do not count.