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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Buyers shall pay for the documents when presented. Payment shall not be deemed to have been effected before receipt of cleared funds by the payee or his bank. Otherwise Buyers to be liable to pay demurrage at the rate stipulated in the Charter Party or Contract of Affreightment. An asterisk denotes alternative wording, and should be matter of agreement between the parties.
Regulatory documents (GAFTA, FOSFA contracts etc.)
All Sellers and Buyers shall give every assistance to the establishment of the circle and where a circle shall have been established same shall be binding on all parties to the circle.
Please send inquiry for sevice. Damages to be computed on the mean contract quantity. The use of member analysts shall be mandatory except where the contract or regulations require the use of Governmental or other analysts. Should the ship arrive before receipt of declaration of shipment and extra expenses be incurred, such expenses are to be paid by Sellers. Weights shall then be established as soon as it is deemed practicable by the superintendents representing the parties and a final invoice shall be issued accordingly.
If there is no due date for payment, interest shall be payable if there has been an unreasonable delay in payment. 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 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. 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.
Buyers to send copy of the freight note to Sellers for final invoicing purposes. Presentation of documents does not constitute a notice under the terms of this clause. T and T Please send inquiry No right click. Where the results of the three analyses are such that the above formula does not apply, the mean of the three shall be taken as final.
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, and give the necessary instructions to the analyst.
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.
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 Sweepings shall be accepted with a fair allowance, to be fixed by agreement or by arbitration. At time and place of shipment, the oil shall be of good merchantable quality, in good condition and of the agreed description and specifications.
Any expense for covering war risks insurance in excess of? Sellers have agreed to sell and Buyers have agreed to buy goods as described below on terms and conditions hereinafter. 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 law or equity to the contrary notwithstanding.
The analysis fee shall be equally divided between Sellers and Buyers. Sellers invoking this clause shall advise Buyers with due despatch. 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. Parties shall pass on certificates of analysis with due despatch. Any notices received after 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.
FOSFA 54 CIF Oil
If any payment is not made on or before the due date for payment, interest shall be payable. If establishment of weights is not contrract within 5 working days after discharge Sellers may submit an interim invoice which shall become due and payable based on Bill of Lading weights. Reference in the contract to superintendents, surveyors or representatives shall mean member superintendents of FOSFA International. Revised and Effective from 1st Sepember.
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. If freight is to be paid in a currency other than the currency of this contract, the conversion in the final invoice shall be made at the rate of exchange on the day of actual freight payment: Feed Mill Arbitration Arbitration.
The FFA content shall be expressed as follows: All import duties, taxes, levies, etc. If required, Sellers must produce proof to justify their claim for extension or cancellation under this clause.
These members include producers and processors, shippers and dealers, traders, brokers and agents, superintendents, analysts, shipowners, tank storage companies and others, providing services to traders. In case fosfs default after extension the default date shall be similarly deferred.
All notices shall be under reserve for errors in trans- mission. Sellers have agreed to sell and Buyers have agreed to buy metric tons. Thereafter, if the contract is cancelled under the terms of the Prohibition Clause or the Force Majeure Clause, this clause is not applicable.
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If as Lauric acid, calculated on a molecular weight of ; as Palmitic acid, calculated on a molecular weight of fosaf as Oleic acid, calculated on a molecular if if weight of 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 fpsfa 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 Vontract 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 contracy such dispute.
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.
FOSFA 54 CIF Oil
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. 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 either agreed between the parties or subsequently found by arbitrators to have occurred, then the day of the default shall, failing amicable settlement, be decided by arbitration.
Should the oil on arrival not prove equal to the above, or should the oil contain sea water or other admixture, this contract not to be void, but the oil is to be taken with an allowance to be agreed upon or fixed by arbitration contradt always that the oil shipped shall conform to the above.