53, Vegetable and Marine Oil – FOB Terms, April 54, Vegetable and Marine Oil – CIF Terms, September 55, Linseed Oil – CIF Terms, September. FOSFA 53 FOR VEGETABLE AND MARINE OIL IN BULK FOB TERMS. SELLERS: FOSFA 53 FOB Oil in bulk Contract. Details: Parent. 53 FOSFA Oct 1 _交通运输_工程科技_专业资料。 BULK Revised and Effective from 1st October FOB TERMS 53 Reference Nos.
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Any notice received after If the oil is delivered to more than one tank of the same ship the analysis details of the oil delivered to each separate tank at loading shall conform to the contract specifications.
Notices to be despatched by any means of rapid written communication E-mail excluded. Neither party hereto, nor any persons claiming under either of them, shall bring any action or other legal proceedings against the other of them in respect of any such dispute until such dispute shall first have been heard and determined by the arbitrators, umpire or Board of Appeal as the case may bein accordance with the Rules of Arbitration and Appeal of the Federation, and it is hereby expressly agreed and declared that the obtaining of an Award from the arbitrators, umpire or Board of Appeal as the case may befosf be a condition precedent to the right of either party hereto or any person claiming under either of them to bring any action fsofa other legal proceedings against the other of them in respect of any such dispute.
Buyers shall notify their Sellers and first Sellers if known of such substitution as soon as possible but not later than 2 business days before the expected arrival of the original ship.
All samples drawn under the terms of this contract when delivered to FOSFA International or to the analyst s to become their absolute property. In the event this contract forms part of a string of contracts for the same goods on the same terms, notice s of second and third analysis by intermediate parties shall be accepted by the other party although received after such time, provided notices by intermediate parties have been passed on with due despatch.
Sellers invoking this clause shall advise Buyers with due despatch. Samples should be kept for three months from the date of the Bill of Lading. Laytime not s to commence prior to expiry of minimum number of days pre-advice for nomination of ship unless Sellers agree to load earlier in which case laytime to commence when ship actually commences to load.
Should the time limit for doing any act or giving any notice expire on a Saturday, Sunday or any public holiday in the country where the party required to do the act or give the notice resides or carries on business or in the country where the act has to be done or the notice has to be received or on any day which the Federation shall declare to be a non-business day the time so limited shall be extended until the first business day thereafter.
If Buyers exercise their option to take delivery in store, Sellers shall nevertheless deliver to the ship if it presents in time for loading to commence before the expiry of the extension period. If the party liable to pay shall be dissatisfied with the price of such sale or purchase, or if neither of the above rights is exercised, the damages, if any, shall, failing amicable settlement, be determined by arbitration.
Parties shall pass on certificate s of analysis with due despatch. Sellers to deliver the oil at not less than the loading rate stated in the Preamble. Different currencies shall not invalidate the circle. If the oil to be shipped is not to be commingled in the vessel s tank s with oil loaded by any other Seller sSellers under this contract have the option that the sample s shall be drawn from the vessel s tank s.
Should such cause exist for a period of 60 days beyond the contract delivery period, the contract or any unfulfilled part thereof so affected shall be cancelled. Minimum flash point of ?
In the event s of a string, the first Seller shall accept the nomination provided it has been received by him not later than 10 consecutive days before the date of the ships expected date of readiness to load. Thereafter, all costs of whatsoever nature arising including the cost of removing the oil to separate other storage but excluding those of putting the oil FOB ruling on the 15th day of the extension shall be paid by Buyers.
Any dispute arising out of this contract, including any question of law arising in connection therewith, shall be referred to arbitration in London or elsewhere if so agreed in accordance with the Rules of Arbitration and Appeal of the Federation of Oils, Seeds and Fats Associations Limited, in force at the date of this contract and of which both parties hereto shall be deemed to be cognizant.
Interest payable shall be appropriate to the currency involved. In default of fulfilment of this contract by either party, the other party at his discretion shall, after giving notice, have the right either to cancel the contract, or the right to sell or purchase, as the case may be, against the defaulter who foefa on demand make good the loss, if any, on such sale or purchase.
FOSFA 53 FOB Oil in bulk
Buyers may appoint a representative to superintend weighing on their behalf. Should either party be dissatisfied with the price ascertained by re-purchase or re-sale, then the matter shall be referred to arbitration.
Analysis fees shall be for account of the party ordering the analysis. Such settlement shall be due for payment not later than 15 consecutive days after the last day of the delivery period or, should the circle not be established before fosca expiry of fosca time, then settlement shall be fosfs for payment not later than 7 days after the circle is established. FOSFA code of practic OIL, in bulk at. All business days shall be deemed to end at The damages awarded against the defaulter shall be limited to the difference between the contract price and the actual or estimated market price on the day of default.
Damages to be computed on rosfa mean contract quantity. The serving of proceedings upon any party by sending same to their last known address together with leaving a copy of such proceedings at the offices of the Federation shall be deemed good service, rule of the law or equity to the contrary notwithstanding.
The party claiming Force Majeure must produce proof to justify their claim if required.
Prior to the last day 533 the contract delivery period either party may notify the other party of its inability to deliver or take delivery but the date of such notice shall not become the default date without the agreement of the other party.
Where no such rate is stated loading shall be at an average rate of metric tons per running hour provided the flsfa can receive at that rate. Notice from a broker shall be a valid notice under this contract.
Regulatory documents (GAFTA, FOSFA contracts etc.) | CISS Group
The warrant, foafa order or similar document to be guaranteed by a Bank if requested by Buyers in the pre-advice. Sellers or their superintendents shall send sealed sample s for analysis on the contractual specifications to an analyst. If required, Sellers must produce proof to justify their claim for extension or cancellation under this clause.
In the event that loading is not commenced within 15 days of gosfa original contract delivery period the provisions of the Default Clause shall apply and Buyers shall additionally pay to Sellers an amount equal to carrying charges for the total extension period.
Buyers are allowed to substitute the nominated ship provided that the substitute ship is expected to arrive no earlier than the original ship and not more than 10 consecutive days later unless otherwise agreed by Sellers. Sellers shall complete loading after the expiry of the fsofa period, provided Buyers present Notice of Readiness to fosfz within the extended period.
But should prohibition continue for 30 days, the contract or any unfulfilled part thereof shall be cancelled. If there is no due date for payment, interest shall be payable if there has been an unreasonable delay in payment. The party requesting such analysis shall, within five business days after receipt of the preceding analysis, notify the other party, arrange for a sealed sample to be sent to another analyst, and give the necessary instructions to the analyst.
Sellers have agreed to sell and Buyers have agreed to buy. Loading in accordance fosra the provisions of the Loading Clause and at an average rate of.