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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The following shall not apply to this contract: All samples drawn under the terms of this contract when delivered to FOSFA International or to the analyst s to become their absolute property. Sellers to deliver the oil at not less than the loading rate stated in the Preamble. In the event that loading is not 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.
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 contract delivery period not to be affected by this clause. Notices shall be passed on with due despatch by intermediate Buyers fosva Sellers.
Fosfq 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 fodfa have the option that the sample s shall be drawn from the vessel s tank s. Thereafter, if the contract is cancelled under the terms of the Prohibition Clause or the Force Majeure Clause, this clause is not applicable.
Any notice received after Buyers shall be entitled to an extension of the original contract delivery period not exceeding 15 days in which to provide suitable freight. Sellers invoking this clause shall advise Buyers with due despatch. Notice from a broker shall be a valid notice under this contract.
Details of seals and labels shall be given on loading weight report s and analysis certificate s. Different currencies shall not invalidate the circle.
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.
Rates for carrying in accordance with the Extension Clause. Any dispute arising out of or in connection therewith shall be submitted to arbitration in accordance with the Rules of the Federation. 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 fosfx basis of final settlement.
FOSFA 53 FOB Oil in bulk
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.
Sellers have agreed to sell and Buyers have agreed to buy.
All notices shall be under reserve for errors in transmission. If any payment is not made on or before the due date for payment, interest shall be payable. Sellers shall complete loading after the expiry of the fosfq period, provided Buyers present Notice of Readiness to load within the extended period. Notices to be despatched by any means of rapid written communication E-mail excluded.
FOSFA 53 FOB Oil in bulk
Proof of string to be provided, if required, by either party. 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.
Sellers also to provide Certificate of Analysis and Certificate of Origin. Payment shall not be deemed to have been effected before receipt of cleared funds by the payee or his bank.
Regulatory documents (GAFTA, FOSFA contracts etc.)
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. Analysis fees shall be for account of the party ordering the analysis. FOSFA code of practic 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.
The party invoking this clause shall advise the other with due despatch. Samples should be kept for three months from the date of the Bill of Lading. Buyers may appoint a representative to superintend weighing on their behalf. All Sellers and Buyers shall give every assistance to the establishment of the circle and when a circle shall have been established same shall be binding on all parties to the circle.
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. 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.
Parties shall pass on certificate s of analysis with due despatch. Should either party be dissatisfied with the price ascertained by re-purchase or re-sale, then the matter shall be referred to arbitration. The original delivery period and any extension thereto shall not be affected by this clause.