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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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. Sellers to be responsible for obtaining export licence, if required.
Interest payable shall be appropriate to the currency involved. OIL, in fosda at. FOSFA code of practic The party invoking 533 clause shall advise the other with due despatch. 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. The oil shall be of good merchantable quality of the agreed description and contractual specification at time of delivery or at the end of the extension period if not shipped.
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 flsfa 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.
No circle shall be considered to exist if its existence is not established within 45 days after the last day of the delivery period. Where Sellers have the option to deliver from alternative load ports Sellers shall declare actual load port no later fofa the first business day of the month prior to commencement of delivery period. If required, Sellers must produce proof to justify their claim for extension or cancellation under this clause.
Thereafter, if the contract is cancelled under the terms of the Prohibition Clause or the Force Majeure Clause, this clause is not applicable.
Any dispute arising out of or in connection therewith shall be submitted to arbitration in accordance with the Rules of the Federation. 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. Sellers also to provide Certificate of Analysis and Certificate of Origin. Where no such rate is stated loading shall be at an average rate of metric tons per running hour provided the ship can receive at that rate.
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 533 s. 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. Damages to be computed on the mean contract quantity.
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. 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 fosfaa deemed good service, rule of the law or equity to the contrary notwithstanding.
Buyers shall be entitled to an extension of the original contract delivery period not exceeding 15 days in which to provide suitable freight. Details of seals and labels shall be given on loading weight report s and analysis certificate s.
Regulatory documents (GAFTA, FOSFA contracts etc.) | CISS Group
In the event s foafa 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. 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 35 basis of final settlement.
If loading is commenced within 15 days after the original contract delivery period, payment shall be made in accordance with the Payment Clause. 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.
If any payment is not made on or before the due date for payment, interest shall be payable. Notice from a broker shall be a valid notice under this contract.
Regulatory documents (GAFTA, FOSFA contracts etc.)
Sellers to deliver the oil at not less than the loading rate stated in the Preamble. Notices shall be passed on with due despatch by intermediate Buyers and Sellers. The party claiming Force Majeure must produce proof to justify their claim if required. Any notice received after The FFA content shall be expressed as follows: Buyers need not state the exact number of days they require when giving such notice.
If, for any other reason, either party fails to fulfil the contract and is 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 the default shall, failing amicable settlement, be decided by arbitration.
Proof of string to be provided, if required, by either party. This contract shall be deemed to have been made in England and the construction, validity and performance thereof shall be governed in all respects by English Law. Failing amicable agreement the market price shall be that declared by a Price Settlement Committee of the Federation appointed for that purpose on application of either party.
Notice of such extension shall be given to Sellers as soon as possible but not later than the last business day of the original contract delivery period. Rates for carrying in accordance with the Extension Clause.
53 FOSFA Oct 1 _百度文库
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.
Loading in accordance with the provisions of the Loading Clause and at an average rate of. Notices to be despatched by any means of rapid written communication E-mail excluded.
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 fozfa, against the defaulter who shall on demand make good the loss, if any, on such sale or purchase.
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. All notices shall have been passed on with due despatch. Laytime not s to commence prior to expiry of minimum number of days pre-advice for fosca of ship unless Sellers agree to load earlier in which case laytime to commence when ship actually commences to load.
The contract delivery period not to be affected by this clause. Shipped weights, as ascertained by a recognised independent Surveyor.
Analysis fees shall cosfa for account of the party ordering the analysis. If there is no due date for payment, interest shall be payable if there has been an unreasonable delay in payment. Sellers or their superintendents shall send sealed sample s for analysis on the contractual specifications to an analyst.
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 Fosca an amount equal to carrying charges for the total extension period. Buyers shall fosra 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.
Different currencies shall not invalidate the circle.