FOSFA 51 PDF
6. Fosfa Contract 51 – Download as PDF File .pdf), Text File .txt) or read online. the FOSFA trades in oils and fats, oilseeds and groundnuts. Provide FOSFA Member Superintendents with detailed functions and operational Page –, , flexibility in international trade 23, 26, 27, 48, 51, 64, 67, 77, – force majeure , FOSFA 49, 51, 84, , FOSFA ;.
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Details of seals and labels shall be given on loading weight report s and analysis certificate s. Sellers to deliver the oil at not less than an average rate of metric tons per running hour, Sundays and holidays included, provided the ship can receive fosfq that rate.
Buyers to give notice of nomination of ship to Sellers together with expected date of readiness to load, demurrage rate if applic able, flag, quantity, agents at loading port and final country of destination for Sellers to receive it not later than10 consecutive days before the date of the ship’s expected readiness to load. 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.
Analysis of samples taken at time of loading or, in the event of the oil not being loaded within 30 consecutive days of the contract period, at the end of the extension period allowed under the Extension Clause, to be final.
Sellers have agreed to sell and Buyers have agreed to buy. Notice of such extension shall be given to Sellers as soon as fosca but not later than the last business day of the original contract delivery period. Where a Seller re-purchases from his Buyer, or from any subsequent Buyer, the same goods or part thereof, a circle shall be considered to exist as regards the cosfa goods so re-purchased, and the provisions of the Default Clause shall not apply.
Sellers undertake to carry the oil for Buyers’ account for such an extension period at the rates stipulated in the Carrying Charges Clause.
6. Fosfa Contract 51
Nothing in this clause shall affect a party’s right to invoke the provisions of the Default Clause in ffosfa case where a failure to effect timely payment could give rise to a claim under that clause. Proof of string to be provided, if required, by either party. If Buyers fail to provide such confirmation, Sellers shall have the right to fofa their own insurance according to the terms of this clause at the Buyers’ risk and expense.
For Crude Degummed Soybean Oil: Likewise, the acceptance of a string proposal by the parties other than the first Seller and the last Buyer shall be deemed to constitute their firm commitment to pay any price differentials and other monies due.
In the event that loading is not commenced within 30 days of the 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.
Sellers also to provide Certificate of Analysis and Certificate of Origin. In case of default of fulfilment by either party, the other party shall be entitled to recover interest on principal sum of damages at fosfx rate of 2.
Tosfa a string proposal is declared in force it shall be deemed to have transferred automatically from the first to the last Buyer the obligation to pay for the goods, to cover fosfaa in accordance with the Insurance Clause above, and to defray any excess in the cost of Superintendence and Analysis above the rate agreed to be for Seller’s account.
Buyers shall be entitled to an fozfa of the original contract delivery period not exceeding 30 days in which to provide suitable freight.
If no such declaration is received by the time vessel has started to load, the first Seller may withdraw his agreement and present documents to his own Buyer, or at his option charge interest at the rate stipulated in the Interest Clause for any time lost in presentation of documents. The superintendent, whose certificates at time and place of loading shall be final as to weight, quality and condition, is at Buyer’s choice and at Seller’s expense but should the total fee of such certificates and analysis exceed The party claiming Force Majeure must produce proof to justify their claim if required.
In case of re-sales in string any party involved may propose a documents bypass whereby the first or a subsequent Seller is to present documents at his own price directly to the last or a previous Buyer. Thereafter, if the contract is cancelled under the terms of the Prohibition Clause or the Force Majeure Clause, this clause is not applicable.
Despite agreeing without prejudice to a documents bypass proposal, all the parties’ rights and obligations under their individual contracts, save as amended by operation of the agreed bypass, shall remain fully in force. If the goods are not delivered or, having been delivered, documents are not presented as a result fosfaa a circle having been established, invoices based on the mean contract quantity shall be settled between each Buyer and his Seller foefa the circle by payment by each Buyer to his Seller of the excess of the Seller’s invoice amount over the lowest invoice amount in the circle.
Notices shall be passed on with due despatch by intermediate Buyers and Sellers. Notices to fpsfa despatched by any means of rapid written communication E-mail excluded.
Sellers shall receive confirmation together with documentary instructions that fosfz according to these terms and at Buyers’ expense has been covered. FOSFA Copyright Weight ascertained by vessel’s tank s ullage or draft survey shall be contractually irrelevant.
Reference in the contract to superintendents, surveyors or representatives shall mean Argentine member superintendents of FOSFA International. Any extra expenses necessarily incurred by Sellers to facilitate drawing of samples for establishment of quality at end of extension shall be for Buyers’ account. 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.
Different currencies shall not invalidate the circle. As specified in contract. If Mate’s Receipts are presented for payment, Sellers shall be entitled to instruct vessel’s agents that the Bill s of Lading may only be issued in exchange for the original Mate’s Receipt.
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 contractual specifications.
Samples shall fosfw kept for three months from the date of the Bill of Lading.
VISER | International Trading
For the purpose of this contract the word “ship” or “ships” means any full powered primarily engine-driven ship classified not lower than A1 in Lloyds Register or of equivalent classification of a similar institute. In the event 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 ship’s expected date of readiness to load.
All notices shall be under reserve for errors in transmission. In any month containing an odd number of days the middle day shall be reckoned as belonging to 5 halves of the month.
No clerical error in the documents shall entitle the Buyers to reject them or delay payment, but Sellers shall be responsible for all loss or expense caused to Buyers by reason of such error. 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 shall on demand make good the loss, if any, on such sale or purchase.
The following deviations are permitted with the following allowances to Buyers: The documents shall then be presented through the string between individual counter-parties. Should superintendents after inspection find ship’s tanks require further cleaning, time required to clean not to count as laytime.