FOSFA 54 CONTRACT PDF
FOSFA INTERNATIONAL. CONTRACT 54 FOR VEGETABLE AND MARINE OIL IN BULK CIF DELIVERED WEIGHTS. Revised and Effective. FOSFA is professional international contract issuing and arbitral body with world trade in CONTRACT 54 FOR VEGETABLE AND MARINE OIL IN BULK CIF. GAFTA Weighing Rules No. download GAFTA Sampling Rules No. download FOSFA download FOSFA download GAFTA fumifation rules
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If the packages are supplied by the Buyers but the residue is not delivered such residue or unpumpable oil shall not be included in the delivered weight. The following shall not apply to this contract: In any month containing an odd number of days the middle day shall be reckoned as belonging to both halves of the month. All business days shall be deemed to end at Failing amicable agreement xontract market price shall be that declared by a Price Settlement Committee of the Federation appointed for that purpose on application of either party.
Such settlement shall be due for payment not later than 15 consecutive days after the last day for declaration or, should the circle not be established before the expiry of this time, then settlement shall be due for payment not later than seven days after the circle is established.
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. If two analyses are made the mean of the two results, and if three analyses are made, the mean of the two results closest to each other, as the case may be, shall be binding and form the basis of final settlement.
Sweepings shall be accepted with a fair allowance, to be fixed by agreement or by arbitration. 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 beshall be a condition precedent to the right of either party hereto or of any person claiming under either of them to bring any action or other legal proceedings against the other of them in respect of any such dispute.
Notices shall be passed on with due despatch by intermediate Buyers and Sellers. Should the ship arrive before receipt of declaration of shipment and extra expenses be incurred, such expenses are to be paid by Sellers. Notice from a broker shall be a valid notice under this contract. Presentation of documents does not constitute a notice under the terms of this clause. Revised and Effective from 1st September. If none of these methods is possible then the discharged weight to be ascertained by the most practicable alternative means.
FOSFA 54 CIF Oil
Damages to be computed ffosfa the mean contract quantity. 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.
Different currencies shall not invalidate the circle. Please send inquiry for sevice.
Sellers have agreed to sell and Buyers have agreed to buy metric tons. FOSFA code of practic Where a Seller repurchases from his Buyer, or from any subsequent Buyer, the same goods or part thereof, a circle shall be considered to exist as regards the particular goods so repurchased, and the provisions of the Default Clause shall not apply. I agree with the Terms and Conditions. If, for any other reason, either party fails to fulfil the contract and is declared to be in default by contradt other party and default is either agreed between the parties or subsequently found by arbitrators to have occurred, then the day of the default shall, failing amicable settlement, be decided by arbitration.
Buyers or their superintendents shall retain three sealed samples and, if required, shall send one sealed sample with due despatch for analysis to an analyst. Parties shall pass on certificates of analysis with due despatch. In the event vosfa disagreement between Buyers’ and Sellers’ superintendents on the question of mass per volume litre weight in airsealed conteact shall be submitted to an analyst whose decision shall be final.
The remaining two sealed samples shall be retained by Sellers or their superintendents. An asterisk denotes alternative wording, and should be matter of agreement between the contraact.
54 FOSFA CIF Oct 1 _百度文库
Sellers invoking this clause shall advise Buyers with due despatch. Please send inquiry No right click. Buyers shall inform Sellers immediately there is a claim against the guarantee and Sellers shall have the right to be joined in any legal action arising therefrom.
FOSFA Copyright The goods are fpsfa for shipment to. T and T 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.
These members include producers and processors, shippers and dealers, traders, brokers and agents, superintendents, analysts, shipowners, tank storage companies and others, providing services to traders.
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. In case of default after extension the default date shall be similarly deferred.
Revised and Effective from 1st Sepember. Feed Mill Arbitration Arbitration. 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 clntract or equity to the contrary notwithstanding. Otherwise Buyers to be liable to pay demurrage at the rate stipulated in the Charter Party or Contract of Affreightment.
Two sets of these s samples shall be handed to the Master with instructions to hand over to cobtract Receivers at port of discharge or their superintendents. All contractt shall be under reserve for errors in trans- mission.
FOSFA is a professional international contract issuing and arbitral body concerned exclusively with the world trade in oilseeds, oils and fats with over members in 75 countries Should Sellers have failed to present shipping documents on arrival of fpsfa ship at destination, Buyers shall take delivery under a guarantee acceptable fsofa the shipowners to xontract provided by the Buyers, such guarantee to be signed by a first class bank if required by the shipowners.
The use of member superintendents shall be mandatory except where: If Buyers fail to send a fosca for analysis Sellers have the right to submit a sample and the results of this analysis shall stand. If the amount of interest is not mutually agreed, a dispute shall be deemed to exist which shall be settled by arbitration in accordance with the Arbitration Clause.