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FOSFA 51 PDF

6. Fosfa Contract 51 – Download as PDF File .pdf), Text File .txt) or read online. the FOSFA trades in oils and fats, oilseeds and groundnuts. Provide FOSFA Member Superintendents with detailed functions and operational Page –, , flexibility in international trade 23, 26, 27, 48, 51, 64, 67, 77, – force majeure , FOSFA 49, 51, 84, , FOSFA ;.

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Post on Apr 2. Sellers have agreed to sell and Buyers have agreed to buy. OIL, in bulk at. The oil shall be of good merchantable quality of the agreed description and contractual specification at time and place of delivery or at the end of the extension period if not shipped.

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 contractual specifications. Minimum flash point of F C. For Crude Degummed Soybean Oil: FFA As oleic with a molecular weight of The following deviations are permitted with the following scales of allowances to Buyers: The following deviations are permitted with the following allowances to Buyers: As specified in contract. Futures in exchange, Sellers’ give-up.

Price to be fixed and futures to be given up latest 5 days prior to shipment or 2 days prior to the first notice day of option in question, whichever earlier.

At Buyers’ call during. Bill of Lading or mate’s receipt shall be considered proof of delivery of the goods in the absence of evidence to the contrary. Buyers to give notice of nomination of ship to Sellers fosta with expected date of readiness to load, demurrage rate if applic able, flag, quantity, agents at loading port and final country of destination for Sellers to receive it not later than10 consecutive days before the date of the ship’s expected readiness to load.

In the event of a string, the first Seller shall accept the nomination provided it has been received by fowfa not later than 10 consecutive days before the date of the ship’s expected date of readiness to load. Buyers are allowed to substitute the nominated ship provided that the fosfq ship is expected to arrive no earlier than the original ship and not more than 5 working days later unless otherwise agreed by Sellers.

6. Fosfa Contract 51 – [PDF Document]

Sellers shall not be obliged to accept more than two substitutions. Buyers shall notify 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.

The original delivery period and any extension thereto shall not be affected by this clause. Sellers shall receive relevant documentary instructions including splits not less than 5 working days prior to the estimated arrival of ship at loading port. For the purpose of this contract shipping documents will consist of: No clerical error in the documents shall entitle the 5 to reject them or delay payment, but Sellers shall be responsible for all loss or expense caused to Buyers by reason of such error.

Should superintendents after inspection find ship’s tanks require further cleaning, time required to clean not to count as laytime. Laytime not 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.

All notices shall have been passed on with due despatch. Sellers to deliver the oil at not less than an average rate of metric tons per running hour, Sundays and holidays included, provided the ship can receive at that rate. Should commencement of loading be delayed by more than 72 hours after acceptance of the Notice of Readiness due to ship’s tanks not being passed by the appointed superintendent or for any other reason for fosda Sellers are not contractually responsible, any extra costs incurred by Sellers shall be for Buyers’ account.

Each delivery to be considered a separate contract. For the purpose of this contract the word “ship” or flsfa means any full powered primarily engine-driven ship classified not lower than A1 in Lloyds Register or cosfa equivalent classification of a similar institute. Sellers to be responsible for obtaining export licence, if required. Reference in the contract to superintendents, surveyors or representatives shall mean Argentine member superintendents of FOSFA International.

The superintendent, whose certificates at time and place of loading shall be final as to weight, quality and condition, is at Buyer’s choice and at Seller’s expense but should the total fee of such certificates and analysis exceed The use of member superintendents shall be mandatory except where the contract or national laws or regulations require the use of Governmental or other agencies not recognised by FOSFA International. The analyst is at Buyers choice. The use of member analysts shall be mandatory except where the contract or national laws or flsfa require the use of Governmental or other analysts.

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In the event foafa disagreement on the question of litre weight in air, sealed samples shall be submitted to an analyst in membership of the Federation and represented in the Oils and Fats Section whose decision shall be final.

Weight ascertained by vessel’s tank s ullage or draft survey shall be contractually irrelevant. Sampling shall be done in accordance with the method ISO Details of seals and labels shall be given on loading weight report s and analysis certificate s.

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. 551, if this option is exercised and to ensure that samples are available in the event of a contamination claim, superintendents shall draw and seal no less than five representative pre-shipment samples of the oil delivered to each vessel’s tank at the vessel’s rail or the nearest practicable point thereto prior to loading.

These samples are to remain sealed with superintendents at origin but to be available on demand to any receiver in the event of a contamination claim. Samples shall be kept for three months from the date of the Bill of Lading. If the oil is not loaded within 30 consecutive days of the contract period, then representative samples to be drawn by superintendents at the storage installation or the producing factory at or near the port of delivery at the end of the extension period allowed under the Extension Clause.

Any extra expenses necessarily incurred by Sellers to facilitate drawing of samples for establishment of quality at end of extension shall be for Buyers’ account. Sellers or superintendents shall send sealed samples for analysis on the contractual specification to an analyst.

Parties shall pass on certificates of analysis with due despatch. Cosfa of samples taken at time of loading or, in the event of the oil not being loaded within 30 consecutive days of the contract period, at the end of the extension period allowed under the Extension Clause, to be final.

Buyers shall be entitled to an extension of the original contract delivery period not exceeding 30 days in which to provide suitable freight. 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.

Sellers undertake to carry the oil for Fosaf account for such an extension period at the rates stipulated in the Carrying Charges Clause. If loading is commenced within 30 days after the fosga contract delivery period, payment shall be made in accordance with the Payment Clause. In the event that loading is not commenced within 30 days of the original contract delivery period the provisions of the Default Clause shall apply and Buyers shall additionally pay to Sellers an amount equal to carrying charges for the total fpsfa period.

However, Buyers have the option, provided they give Sellers minimum 4 business days pre-advice, to effect payment against warrant, delivery order or similar document, in place of the Bill of Lading or Mate’s Receipt, giving unencumbered title to the quantity called for, issued by an installation or the producing factory or at or near the port of delivery.

Sellers also to provide Certificate of Analysis and Certificate of Origin. The warrant, delivery order or similar document to be guaranteed by a Bank if requested by Buyers in the pre-advice.

The expenses of such Bank guarantee to be for Buyers’ account. 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 30th day of the extension shall be paid by Buyers. If Buyers exercise their option to take delivery in store, Sellers shall nevertheless deliver to the ship if it presents in time for loading to commence before the expiry of the extension period.

Carrying charges shall be paid by Buyers to Sellers upon payment of shipping documents. Sellers are not obliged to issue Bills of Lading to the order of a third party. If freight paid or freight pre-paid Bill s of Lading are requested, Buyers shall pay freight fosf any taxes and expenses in sufficient time so that the Bill s of Lading are released at the end of the first business day following the day when the Bill s of Lading are presented to the vessel’s agents in Buenos Aires.

In any of the above situations Sellers shall at their discretion have the right to demand that Buyers expressly hold them harmless of any possible consequences, charge Buyers interest in case of delay in release of Bills of Lading according to the Interest Clause, or demand payment against Mate’s Receipt instead of Bill of Lading, as the case may be. Buyers shall accept as clean any Mate’s Receipt or Bill of Lading showing a weight ascertained by the superintendents, irrespective of any remarks concerning a different weight determined by vessel’s tank s ullage or draft survey.

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The necessary steps to overcome any difficulties arising from such remarks shall be taken by Buyers but shall not entitle Buyers to withhold or delay payment as per contract. If Mate’s Receipts are presented for payment, Sellers shall be entitled to instruct vessel’s agents that the Bill s of Lading may only be fossfa in flsfa for the original Mate’s Receipt.

Once the goods are fowfa on board, all risks including all average to be for account of the Buyers. Sellers shall receive confirmation together with documentary instructions that insurance according to these terms and at Buyers’ expense has been covered. If Buyers fail to provide such confirmation, Sellers shall fozfa the right to place their own insurance according to the terms of this clause at the Buyers’ risk and expense.

Presentation in trust or by collection is at Sellers option. If Buyers demand presentation through a bank of their choice, those bank charges shall be for Buyers account. Payment shall not be deemed to have been effected and title to the goods shall not pass from Sellers to Buyers before receipt of cleared funds by the payee or his bank. If payment is agreed to be by bank transfer, the party shall effect payment to the payee’s bank on or before the due date for payment and payment instructions shall specify a value date not later than the second bank working day after the day of payment.

In case of late payment of documents or monies otherwise due, computed from the first business day following the day when payment was due up to the day payment is received, both days inclusive. In case of default of fulfilment by either party, the other party shall be entitled to recover interest on principal sum of damages at the rate of 2.

Nothing in this clause shall affect a party’s right to invoke the provisions of the Default Clause in a case where a failure to effect timely payment could give rise to a claim under that clause. All export duties, taxes, levies etc. Notices to be despatched by any means of rapid written communication E-mail excluded.

All notices shall be under reserve for errors in transmission. Notices shall be passed on with due despatch by foxfa Buyers and Sellers. Any notice received after Notice from a broker shall be a valid notice under this contract. Proof of string to be provided, if required, by either party.

6. Fosfa Contract 51

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. All business days shall be deemed to end at The contract delivery period not to be affected by this clause.

In any month containing an odd number of days the middle day shall be reckoned as belonging to both halves of the month. Should Sellers be prevented from loading the goods on board Buyers’ ship or should Buyers be prevented from taking delivery by reason of fire, strikes. 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.

The party invoking this clause shall advise the other with due despatch. The party claiming Force Majeure must produce proof to justify their claim if required. But should prohibition continue for 30 days, the contract or any unfulfilled part thereof shall be cancelled.

Sellers invoking this clause shall advise Buyers with due despatch. If required, Sellers must produce proof to justify their claim for extension or cancellation under this clause.

Should either party be dissatisfied with the price ascertained by re-purchase or re-sale, then the matter shall be referred to arbitration. If no re-purchase or re-sale takes place and if the parties cannot agree to a closing-out price, then on application of either party, the closing-out price shall be fixed by a sole arbitrator appointed by the Federation subject to the right of appeal under the Federation’s Rules of Arbitration and Appeal.

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