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.

Author: Daicage Akinogal
Country: Kuwait
Language: English (Spanish)
Genre: Music
Published (Last): 24 December 2018
Pages: 199
PDF File Size: 7.43 Mb
ePub File Size: 2.32 Mb
ISBN: 458-6-33625-169-7
Downloads: 52972
Price: Free* [*Free Regsitration Required]
Uploader: JoJoshicage

All business days shall be deemed to end at Different currencies shall not invalidate the circle. FOSFA code of practic Details of seals and labels shall be given on loading weight report s and analysis certificate s.

Regulatory documents (GAFTA, FOSFA contracts etc.) | CISS Group

The original delivery period and any extension thereto shall not be affected by this clause. The fosga 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.

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. 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.

Any dispute arising out of or in connection therewith shall be submitted to arbitration in accordance with fosf Rules of the Federation.

53 FOSFA Oct 1 _百度文库

Any dispute arising out of this contract, including any question of law arising in connection therewith, shall be referred to arbitration in London or elsewhere if so agreed in accordance with the Rules of Arbitration and Appeal of the Federation of Oils, Seeds and Fats Associations Limited, in force at the date of this contract and of which 553 parties hereto shall be deemed to be cognizant. All notices shall have been passed on with due despatch. 553

Minimum flash point of ? No circle shall be considered to exist if fosra existence is not established within 45 days after the last day of the delivery period. If fosffa rate of interest is not mutually agreed, a dispute shall be deemed to exist which shall be settled by arbitration in accordance with the Arbitration Clause. Sellers or 35 superintendents shall send sealed sample s for analysis on the contractual specifications to an analyst. Rates for carrying in accordance with the Extension Clause.

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.


Notices shall be passed on with due despatch by intermediate Buyers and Sellers. But should prohibition continue for 30 days, the contract or any fosf part thereof shall be cancelled. The contract delivery period not to be affected by this clause. If loading is commenced within 15 days after the original contract delivery period, payment shall be made in accordance with the Payment Clause.

FOSFA 53 FOB Oil in bulk

If Buyers exercise their option to take delivery in store, Sellers shall nevertheless deliver to foafa ship if it presents in time for loading to commence before the expiry of the extension period. In any month containing an odd number of days the middle day shall be reckoned as belonging to both halves of the month.

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. If there is no due date for payment, interest shall be payable if there has been an unreasonable delay in payment. The FFA content shall be expressed as follows: 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.

Such settlement shall be due for payment not later than 15 consecutive days after the last day of the delivery period or, should the circle not be established before the expiry of this time, then settlement shall be due for payment not later than 7 days after the circle is established.

Buyers need not state the exact number of days they require when giving such notice. All samples drawn under the terms of this fosffa when rosfa to FOSFA International or to the fosra s to become their absolute property. Sampling shall be done in accordance with the method in ISO If any payment is not made on or before fpsfa due date for payment, interest shall be payable.

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.

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 fisfa paid by Buyers. Buyers are allowed to substitute the nominated ship provided that the substitute ship is expected to arrive no earlier than the original ship and not more than 10 consecutive days later unless otherwise agreed by Sellers.


Regulatory documents (GAFTA, FOSFA contracts etc.)

In the event s of a string, the first Seller shall accept the nomination provided it has been received by him not later than 10 consecutive days before the date of the ships expected date of readiness to load.

Loading in accordance with the provisions of the Loading Clause and at an average rate of. Laytime not s 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.

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. Interest payable shall be appropriate to the currency involved. The following shall not apply to this contract: 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.

Sellers to deliver the oil at not less than the loading rate stated in the Preamble. 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.

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.

This contract foefa 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 oil shall be of good merchantable quality of the agreed description and contractual specification at time of delivery or at the end of the extension period if not shipped. OIL, in bulk at.