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 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.
FOSFA Copyright Interest payable shall be appropriate to the currency involved. Damages to be computed on the mean contract quantity. No circle shall be considered to exist if its existence is not established within 45 days after the last day of shipment.
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.
If the oil is shipped in more than one tank of the same ship, the analysis details of the oil in each separate tank at loading shall conform to the above. In the event that Buyers take delivery as above and Sellers fail to provide shipping documents and if the guarantee provided by Buyers as above is encashed by the shipowners, Sellers shall be responsible for all damages, costs and consequences arising from their failure to present documents.
The contract shipment period not to be affected by this clause. Two sets of these s samples shall be handed to the Master with instructions to hand over to the Receivers at port of discharge or their superintendents. 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 shipment period. 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.
All business days shall be deemed to end at If required, Sellers must produce proof to justify their claim for extension or cancellation under this clause. 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.
Revised and Effective from 1st September Register to read more Sweepings shall be accepted with a fair allowance, to be fixed by agreement or by arbitration. Buyers shall pay for the documents when presented. Any reasonable extra expenses, including costs of such guarantee or extra handling charges incurred by reason of the failure of Sellers to provide such documents, shall be borne by Sellers and allowed for in the final invoice.
The remaining two sealed samples shall be retained by Sellers or their superintendents. Revised and Effective from 1st Sepember. 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. 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 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.
Sellers have agreed to sell and Buyers have agreed to buy 00 say OIL, in. In the event of disagreement between Buyers’ and Sellers’ superintendents on the question of mass per volume litre weight in airsealed samples shall be submitted to an analyst whose decision shall be final.
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. If Buyers fail to send a sample for analysis Sellers have the right to submit a sample and the results of this analysis shall stand.
All import duties, taxes, levies, etc.
FOSFA 54 CIF Oil
These members include producers and processors, shippers and dealers, traders, brokers and agents, superintendents, analysts, shipowners, tank storage contraxt and others, providing services to traders. Notices shall be passed on with due despatch by intermediate Buyers fosfaa Sellers. If there is no due date for payment, interest shall be payable if there has been an unreasonable delay in payment. Parties shall pass on certificates of analysis with due despatch.
Feed Mill Arbitration Arbitration. Please send inquiry for sevice.
Revised and Effective from 1st January. Samples to be kept for three months from date of Bill of Lading. Claims to be payable in the currency of the contract. T and T Please send inquiry No right click.
Should the ship arrive before receipt of declaration of shipment and extra expenses be incurred, such expenses are to be paid by Sellers. Revised and Effective from. In the event of shipment during the extended period still proving impossible by reason of any of the causes in this clause the contract or any unfulfilled part thereof shall be cancelled. 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.
Any charges for telegraphic remittance of funds to Sellers shall be for Buyers account.
FOSFA 54 CIF Oil
The analysis fee shall be equally divided between Sellers and Buyers. Revised and Effective from 1st September. Sellers have agreed to sell and Buyers have agreed to buy metric tons. Should Sellers have failed to present shipping documents on arrival of the ship at destination, Buyers shall take delivery under a guarantee acceptable to the shipowners to be provided by the Buyers, such guarantee to be signed by a first class bank if required by the shipowners.
The goods are sold for shipment to. The remaining sets of samples to be retained by the superintendent at the port of loading.