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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Samples should be kept for three months from the date of the Bill of Lading. Notices to be despatched by any means of rapid written communication E-mail excluded.
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.
No circle shall be considered to exist if its existence is not established within 45 days after the last day of the delivery period. 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 received after such fosfq, provided notices by intermediate parties have been passed on with due despatch.
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 553 actually commences to load. 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 contract specifications. All samples drawn under the terms of this contract when delivered to FOSFA International or to the analyst s to become their absolute property.
Regulatory documents (GAFTA, FOSFA contracts etc.)
Sellers have agreed to sell and Buyers have agreed to buy. 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.
Prior to the last day of the contract delivery period either party may notify the other party of its inability to deliver or take delivery but the date of such notice shall not become the default date without the agreement of the other party. Failing amicable agreement the market price shall be that declared by a Price Settlement Committee of the Federation appointed for that purpose on application of either party. 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.
All notices shall have been passed on with due despatch. 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.
Should either party be dissatisfied with the price ascertained by re-purchase or re-sale, then the matter shall be referred to arbitration. 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.
53 FOSFA Oct 1 _百度文库
The FFA content shall be expressed as follows: Parties shall pass on certificate s of analysis with due despatch. If there is no due date for payment, fodfa shall be payable if there has been an unreasonable delay in payment. 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.
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. Buyers shall notify their Sellers and first Sellers fofa known of such substitution as soon as possible but not later than 2 business days before the expected arrival of the original ship.
Buyers may appoint a representative to superintend weighing on their behalf. Each delivery to be considered a separate contract. If any payment is not made on or before the due date for payment, interest shall be payable.
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.
All business days shall be deemed to end at Payment shall not be deemed to have been effected before receipt of cleared funds by the payee fosa his bank. Where Sellers have the option fosffa 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. Sellers or their superintendents shall send sealed sample s for analysis on the contractual specifications to an analyst.
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.
Sellers also fosfx provide Certificate of Analysis and Certificate of Origin. The original delivery period and any extension thereto shall not be affected by this clause. 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. In any month containing an odd number of days the middle day shall be reckoned as belonging to both halves of the month.