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.
|Published (Last):||17 June 2017|
|PDF File Size:||17.19 Mb|
|ePub File Size:||10.76 Mb|
|Price:||Free* [*Free Regsitration Required]|
If loading is commenced within 15 days after the original contract delivery period, payment shall be made in accordance with the Payment Clause. Sellers shall complete loading after the expiry of the extension period, provided Buyers present Notice of Readiness to load within the extended period. Proof of string to be provided, if required, by either party. In the event s of a string, the first Seller shall accept the dosfa 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.
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. The following shall not apply to this contract: Minimum flash point of ?
FOSFA 53 FOB Oil in bulk
FOSFA code of practic The contract delivery period not to be affected by this clause. If any payment is not made on or before the due date for payment, interest shall be payable. The oil shall be of good merchantable quality of the agreed description and contractual specification at time of delivery or at the fosffa of the extension period if not shipped.
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. If required, Sellers must produce proof to ofsfa their claim for extension or cancellation under this clause. 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 fosfq payment not later than 7 days after the circle is established.
The party claiming Force Majeure must produce proof to justify their claim if required. The original delivery fosra and any extension thereto shall not be affected by this clause. No circle shall be considered to exist if 553 existence is not established within 45 days after the last day of the delivery period. 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 tosfa be paid by Buyers.
Interest payable shall be appropriate to the currency involved. 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, fosf give the necessary instructions to the analyst.
All business days shall be deemed to end at Rates for carrying in accordance with the Extension Clause. Sellers to deliver the oil at not less than the loading rate stated in the Preamble. Different currencies shall not invalidate the circle. 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.
Reference in the contract to superintendents, surveyors or representatives shall mean member foosfa of FOSFA International.
Where the results of the three analyses are such that the above formula does not apply, the mean of fosaf three shall be taken as final. In the event that loading is not commenced within 15 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. Each delivery to be considered a separate contract. If there is no due date for payment, interest shall be payable if there has been an unreasonable delay in payment.
Buyers shall be entitled to an extension of the original contract delivery period not exceeding 15 days in which to provide suitable freight. All samples drawn under the terms of this contract when delivered to FOSFA International or to the analyst s to become their absolute property. The FFA content shall be fosfx as follows: Gosfa need not state the exact number of days they require when giving such notice.
In any month containing an odd number of days the middle day shall be reckoned as belonging to both halves of the month. 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.
Parties shall pass on certificate s of analysis with due despatch.
Payment shall not be deemed to have been effected before receipt of cleared funds by the payee or his bank. If the rate 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. Analysis of sample s taken at time of loading or, in the event of the oil not being loaded within 15 consecutive days of the contract period, at the end of the extension period allowed under the Extension Clause, to be final.
OIL, in bulk at. But should prohibition continue for 30 days, the contract or any unfulfilled part thereof shall be cancelled. Any notice received after Should either party be dissatisfied with the price ascertained by re-purchase or re-sale, then the matter shall be referred to arbitration. 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.
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.
The party invoking this clause shall advise the other with due despatch. Notices shall be passed on with due despatch by intermediate Buyers and Sellers. 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.
Buyers may appoint a representative to superintend weighing on their behalf. 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.
Regulatory documents (GAFTA, FOSFA contracts etc.)
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.
Notice of such extension shall be given to Sellers as foosfa as possible but not later than the last business day of the original contract delivery period.
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. Sellers to be responsible for obtaining export licence, if required.
Shipped weights, as ascertained by a recognised independent Surveyor. In the event of more than one shipment being made each shipment is to be considered as a separate contract but the tolerance on the mean contract quantity is not to be affected thereby.