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.

Author: Gardalkree Kajim
Country: Cameroon
Language: English (Spanish)
Genre: Photos
Published (Last): 4 August 2015
Pages: 50
PDF File Size: 8.56 Mb
ePub File Size: 11.6 Mb
ISBN: 396-4-11211-206-3
Downloads: 34526
Price: Free* [*Free Regsitration Required]
Uploader: Batilar

The FFA content shall be expressed as follows: 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.

Details of fsfa and labels shall be given on loading weight report s and analysis certificate s. Different currencies shall not invalidate the circle.

The warrant, delivery order or similar document foxfa be guaranteed by a Bank if requested by Buyers in the pre-advice. Buyers need not state the exact number of days they require when giving such notice. Thereafter, if the contract is cancelled under the terms of the Prohibition Clause or the Force Majeure Clause, this clause is not applicable.

Where no such rate is stated loading shall be at an average rate of metric tons per running hour provided fosca ship can receive at that rate. If required, Sellers must produce proof to justify their claim for extension or cancellation under this clause. The use of member analysts shall be mandatory except where the contract or national laws or regulations require the use of Governmental or other analysts.

FOSFA 53 FOB Oil in bulk

Each delivery to be gosfa a separate contract. The original delivery period and any extension thereto shall not be affected by this clause. If any payment is not made on or before the due date for payment, interest shall be payable. In any month containing an odd number of days the middle day shall be reckoned as belonging to both halves of the month.

Parties shall pass on certificate s of analysis with due despatch.

53 FOSFA Oct 1 _百度文库

Sellers to be responsible for obtaining export licence, if required. 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.

But should prohibition continue for 30 days, the contract or any unfulfilled part thereof shall be cancelled. Sellers or their fofa shall send sealed sample s for analysis on the contractual specifications to an analyst. Sellers shall complete loading after the expiry of the extension period, provided Buyers present Notice of Readiness to load within the extended period.


FOSFA 53 FOB Oil in bulk

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. 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.

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. Sellers also to provide Certificate of Analysis and Certificate of Origin.

Notice of readiness at loading port to be given during local office hours and laytime to start counting 6 hours after such notice has been tendered. Should either party be dissatisfied with the price ascertained by re-purchase or re-sale, then the matter shall be referred to arbitration. 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. Should such cause exist for a period of 60 days beyond the contract delivery period, the contract or any unfulfilled part thereof so affected shall be cancelled.

Buyers may appoint a representative to superintend weighing on their behalf.

FOSFA code of practic 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.

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. Samples should be kept for three months from the date of the Bill of Lading. 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. All business days shall be deemed to end at 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.


Regulatory documents (GAFTA, FOSFA contracts etc.)

In the event s of a string, the first Seller shall accept the nomination fosffa it has been received by him not later than 10 consecutive days before the date of the ships expected date of readiness to load. The party requesting such analysis shall, within five business days after receipt of the preceding analysis, notify the other fosva, arrange for a sealed sample to fofa sent to another analyst, and give the necessary instructions to the analyst. Notices shall be passed on with due despatch by intermediate Buyers and Sellers.

The serving of proceedings upon any party by sending same to their last known address together with leaving foosfa 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. If loading is commenced within 15 days after the original contract delivery period, payment shall be made in accordance with the Payment Clause. 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 fees shall be for account of the party ordering the analysis. Loading in accordance with the provisions of the Loading Clause and at an average rate of. 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. This contract shall be deemed to flsfa been made in England and the construction, validity and performance thereof shall be governed in all respects by English Law.

Prior to the last day of the contract delivery period either party may notify the fksfa party of its inability to deliver or take delivery but the date of such notice shall not become the fosfaa date without the agreement of the other party.

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.

Any notice received after