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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FOSFA 53 FOB Oil in bulk

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. Where Sellers have the option to deliver from alternative load ports Sellers shall declare actual load port no later than the first business day of the month prior to commencement of delivery period.

All Sellers and Buyers shall give every assistance to the establishment of the circle and when a circle shall have been established same shall be binding on all parties to the circle. FOSFA code of practic 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.

All notices shall have been passed on with due despatch. Loading in accordance with the provisions of the Loading Clause and at an average rate of. Details of seals and labels shall be given on loading weight report s and analysis certificate s. If any payment is not made on or before the due date for payment, interest shall be payable. Should either party be dissatisfied with the price ascertained by re-purchase or re-sale, then the matter shall be referred to arbitration.

Shipped weights, as ascertained by a recognised independent Surveyor. 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 or 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 shall be extended until the first business day thereafter.


FOSFA 53 FOB Oil in bulk

Payment shall not be deemed to have been effected before receipt of cleared funds by the payee or his bank. 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. Any dispute arising out of or in connection therewith shall be submitted to arbitration in accordance with the Rules of the Federation. Buyers need not state the exact number of days they require when giving such notice.

Sampling shall be done in accordance with the method in ISO If required, Sellers must produce proof to justify their claim for extension or cancellation under this clause. If there is no due date for payment, interest shall be payable if there has been an unreasonable delay in payment.

Regulatory documents (GAFTA, FOSFA contracts etc.)

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. Proof of string to be provided, if required, by either party. The warrant, delivery order or similar document to be guaranteed by a Bank if requested by Buyers in fosfaa pre-advice.

All foxfa drawn under the terms of this contract when delivered to FOSFA International or to the analyst s to become their absolute property. Sellers invoking this clause shall advise Buyers with due despatch. The following shall not apply to this contract: 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.

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. Where a Seller repurchases from his Buyer, or from any subsequent Buyer, the same goods or part thereof, a circle shall be considered to foefa as regards the particular goods so repurchased, and the provisions of the Default Clause shall not apply.


Parties shall pass on certificate s of analysis with due despatch. Sellers to deliver the oil at not less than the loading rate stated in the Preamble. 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.

Rates for carrying in accordance with the Extension Clause.

53 FOSFA Oct 1 _百度文库

Sellers also to provide Certificate of Analysis and Certificate of Origin. Notices to be despatched by any means of rapid written communication E-mail excluded. No circle shall be considered to exist if its existence 35 not established within 45 days after the last day of the delivery period.

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.

In default of fulfilment of this contract by either party, the other party fosca 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. 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 fosffa accepted by the other party although received after such time, provided notices by intermediate parties have been passed on with due despatch.

Sellers or their superintendents shall fossfa sealed sample s for analysis on the contractual specifications to an analyst.