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.
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If there is no due date for gosfa, interest shall be payable if there has been an unreasonable delay in payment.
Sellers or their superintendents shall send sealed sample s for analysis flsfa the contractual specifications to an analyst.
Minimum flash point of ? Buyers need not state the exact number of days they require when giving such notice. 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 15th day of the extension shall be paid by Buyers.
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 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.
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.
Should either party be dissatisfied with the price ascertained by re-purchase or re-sale, then the matter shall be referred to arbitration. 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.
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.
Different currencies shall not fofsa the circle. The contract delivery period not to be affected by this clause. Sellers invoking this clause shall advise Buyers with due despatch.
Regulatory documents (GAFTA, FOSFA contracts etc.)
In the event of more tosfa 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 dispute arising out of or in connection therewith shall be submitted fosffa arbitration in accordance with the Rules of the Federation. Notice from a broker shall be a valid notice under this contract.
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 agreed between the parties or subsequently found by the arbitrators to have occurred, then the day of the default shall, failing amicable settlement, be decided by arbitration.
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. Analysis of sample s taken at time of loading or, in the event of the oil not being loaded within 15 consecutive days of the contract period, at the end of the extension period allowed under the Extension Clause, to be final.
Where no such rate is stated loading shall be at an average rate of metric tons per running hour provided the ship can receive at that rate. 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 the law or equity to the contrary notwithstanding.
All notices shall have been passed on with due despatch. 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. The party invoking this clause shall advise the other with due despatch. In the event that loading is fksfa commenced within 15 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 extension period.
But should prohibition continue for 30 days, the contract or any unfulfilled part thereof shall be cancelled. Notice foefa 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. Notices to be despatched by any means of rapid written communication E-mail excluded.
OIL, in bulk at. In the event this contract forms part of a string of contracts for the same goods on the same terms, notice s of second and third analysis by intermediate parties shall be accepted by the other party although fosva after such time, provided notices by intermediate parties have been passed on with due despatch.
Regulatory documents (GAFTA, FOSFA contracts etc.) | CISS Group
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. 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 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.
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. Sellers also to provide Certificate of Analysis and Certificate of Origin. Sellers have agreed to sell and Buyers have agreed to buy.
Interest payable shall be appropriate to the currency involved.
FOSFA 53 FOB Oil in bulk
Samples should be kept for three months from the date of the Bill of Lading. Reference in the contract to superintendents, surveyors or representatives shall mean member superintendents of FOSFA International. Sellers to deliver the oil at not less than the loading rate stated in the Preamble.