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Definitions from the Web

Demorage

Noun:

Sense 1: The amount of money charged as compensation for delaying the return of borrowed goods or funds.

Example sentence: The demorage for returning the library book one day late is $0.25.

Verb:

Sense 1: To impose a fee or charge for the delay in returning borrowed items or funds.

Example sentence: The leasing company will demorage $10 per day if the rented equipment is not returned on time.

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