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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6. Fosfa Contract 51

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 fofsa expiry of the extension period. Weight ascertained by vessel’s tank s ullage or draft survey shall be contractually irrelevant.

Sellers shall not be obliged to accept more than two substitutions. Sellers undertake to carry the oil for Buyers’ account for such 511 extension period at the rates stipulated in the Carrying Charges Clause. Samples shall be kept for three months from the date of the Bill of Lading.

VISER | International Trading

In the event of a claim under the Prohibition Clause or the Force Majeure Clause the date for settlement shall be deferred until the expiry of the extended delivery period. Buyers shall be entitled to an extension of the original contract delivery period not exceeding 30 days in which to provide suitable freight. 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 the expiry of this time, then settlement shall be due for payment not later than 7 days after the circle is established.

To permit settlement of price differentials the end Buyer in the string shall without delay confirm receipt of shipping documents and the exact quantity shipped to all parties involved, and price differentials as agreed shall then be paid within 48 hours from receipt of the relevant debit note.

If loading is commenced within 30 days after the original contract delivery period, payment shall be made in accordance with the Payment Clause. Sellers or superintendents shall send sealed samples for analysis on the contractual specification to an analyst. Sellers to be responsible for obtaining export licence, if required. For the purpose of this contract shipping documents will consist of: 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.

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In the event of disagreement on the question of litre weight in air, sealed samples shall be submitted to an analyst in membership of the Federation and represented in the Oils and Fats Section whose decision shall be final.

Reference in the contract to superintendents, surveyors or representatives shall mean Argentine member superintendents of FOSFA International.

All business days shall be deemed to end at The contract delivery period not to be affected by this clause. However, if this option is exercised and to ensure that samples are available in the event of a contamination claim, superintendents shall draw and seal no less than five representative pre-shipment samples of the oil delivered to each vessel’s tank at the vessel’s rail or the nearest practicable point thereto prior to loading.

Should Sellers be prevented from loading the gosfa on board Buyers’ ship or should Buyers be prevented from taking delivery by reason of fire, strikes.

The party invoking this rosfa shall advise the other with due despatch. Any notice received after If, for any other reason, either party fails to fulfil the contract and fosfx declared to be in default by the other party and default is agreed between the parties or subsequently found by the arbitrators to have occurred, then the day of default shall, failing amicable settlement, be decided by arbitration.

Such proposal is to be made in good time prior to commencement gosfa loading of the nominated vessel and to contain names of Sellers and Buyers in the string, their individual prices and the suggested settlement of price fksfa.

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 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.

Nothing in this clause shall affect a party’s right to invoke the provisions of the Default Clause in a case where a failure to effect timely payment could give rise to a claim under that clause. Notices shall be passed on with due despatch by intermediate Buyers and Sellers.

The use of ofsfa analysts shall be mandatory except where the contract or national laws or regulations require fosfz use of Governmental or other analysts. If freight paid or freight pre-paid Fosa s of Lading are requested, Buyers shall pay freight plus any taxes and expenses in sufficient time so that the Bill s of Lading are released at the end of the first business day following the day when the Bill s of Lading are presented to the vessel’s agents in Buenos Aires.

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Despite gosfa 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.

6. Fosfa Contract 51 – [PDF Document]

Post on Apr 2. Sellers also to provide Certificate of Analysis ofsfa Certificate of Origin. Minimum flash point of F C. Each delivery to be considered a separate contract.

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.

Prior to the presentation of documents to the end Buyer any party in the string may in the event of unforeseen and serious circumstances, including the insolvency or threatened insolvency of any party in the string, withdraw agreement giving immediate notice of such withdrawal to all other parties.

Fsfa 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 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.

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 fosa 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 fosga be extended until the first business day thereafter.