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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Samples to be kept for three months from date of Bill of Lading. Where a Seller repurchases 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 repurchased, and the provisions of the Default Clause shall not apply. Buyers shall pay for the documents when presented. Any expense for covering war risks insurance in excess of? T and T FOSFA Copyright Otherwise Buyers to be liable to pay demurrage at the rate stipulated in the Charter Party or Contract of Affreightment.
If none of these methods is possible then the discharged weight to be ascertained by the most practicable alternative means.
Failing amicable agreement the market price shall be that contracct by a Price Settlement Committee of the Federation appointed for that purpose on application of either party. Any notices received after Revised and Effective from 1st Sepember. Notices to be despatched by any means of rapid written communication E-mail excluded.
Notices shall be passed on with due despatch by intermediate Buyers and Sellers. Sellers have agreed to sell and Buyers have agreed to buy 00 say OIL, in. Register to read more An asterisk denotes alternative wording, and should be matter of agreement between the.
If there is no due date for payment, interest shall be payable if there has been an unreasonable delay in payment. The use of member analysts shall be mandatory except where the contract or regulations require the use of Governmental or other analysts. Please send inquiry No right click. 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 vontract, rule of law or equity to the contrary notwithstanding.
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Buyers or their superintendents shall retain three sealed samples and, if required, shall send one sealed sample with due despatch for analysis to an analyst. Damages to be computed on the mean contract quantity. 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. Parties shall pass on certificates of analysis with due despatch. 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.
Revised and Effective from. Revised and Effective from 1st September. In the event of such transhipment at origin the Declaration of Shipment shall include the name of the ocean carrier and transhipment location. 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 fosf expiry of this time, then settlement shall be due for payment not later contgact seven days after the circle is established.
Regulatory documents (GAFTA, FOSFA contracts etc.) | CISS Group
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.
Notice from a broker shall be a valid notice under this contract. Revised and Effective from 1st September Sampling shall be done in accordance with the method in ISO Sellers have agreed to sell and Buyers have agreed to buy.
Sweepings shall be accepted with a fair allowance, to be fixed by agreement or by arbitration.
FOSFA 54 CIF Oil
In default of fulfilment of this contract by either party, the other party at his discretion shall, after giving cpntract, 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. FOSFA code of practic No circle shall be considered to exist if its existence is not established within 45 days after the last day of shipment.
Should such cause exist for a period of 60 days beyond the contract shipment period the contract or any unfulfilled part thereof so affected shall be fosa. I agree with the Terms and Conditions. Different currencies shall not invalidate the circle. Should Sellers have failed to present shipping documents on arrival of the conteact 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.
All fosfx days shall be deemed to end at Any charges for telegraphic remittance of funds to Sellers shall be for Buyers account.
Feed Mill Arbitration Arbitration. Any dispute arising out of or in connection therewith shall be submitted to arbitration in accordance with the Rules of the Federation. If Buyers fail to ffosfa a sample for analysis Sellers have the right to submit a sample and the results of this analysis shall stand. Where the results fosga the three analyses are such that the above formula does not apply, the mean of the three shall be taken as final.