Waiting Time Charge
When a firm purchases products or services, it typically does so with the expectation that it will receive those products or services within a certain timeframe. If the supplier does not deliver the product or service within the agreed-upon time, then the customer may incur a waiting time charge. This charge is intended to compensate the customer for any lost productivity or other damages that result from the late delivery. In some cases, waiting time charges may be negotiable between the buyer and seller.