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Delivery and Acceptance
The goods are considered to be delivered by Sellers and accepted by Buyers in respect to quantity: as per weight indicated in the Bill of Lading in conformity with the measurements of the shore tanks at the port of loading, and in respect to quality issued by a laboratory at the port of loading. The weight stated in the Bill of Lading is to be considered final and binding upon both parties.
Prior to the loading of the goods, 4 arbitration samples are to be taken from each of the shore tanks from which the goods are to be loaded in the carrying tanker. These samples are to be sealed by Sellers as well as by Captain of the tanker; 2 samples to be handed over through the Captain of the tanker at the port of unloading to Buyers or to another person according to Buyer’s instructions and the other 2 samples to be retained by Sellers.
Insurance
Sellers are to insure the goods for their account against usual marine risks including risks of leakage exceeding 1% with The British Insurance Company “Globes”
(London) in accordance with the Transport Insurance Rules of The British Insurance Company for the amount of the invoice value of the goods plus 10 per cent. The goods may be insured against war and other risks upon special request of Buyers and for Buyers’ account. The Insurance Policy or Certificate of The British Insurance Company
is to be made out in the name of Buyers or another person according to their instructions and is to be sent together with the other shipping documents.
Terms of Transportation
Sellers are to inform Buyers by fax or by telex not later then 5 days before the starting of loading of the name and capacity of the tanker, the date and port of shipment of the goods.
Furthermore, the Captain is to advise Buyers or their agent by cable of the forthcoming arrival of the tanker at the port of discharge 4 days before her arrival.
Sellers have the right to substitute one tanker for another informing Buyers thereof by telex.
On arrival of the tanker at the port of discharge, the Captain is to give Buyers’ representative at this port a written notice of readiness of the tanker of discharging. The Captain is entitled to hand in the above notice at any time of the day or the night.
Lay time to commence 6 hours after such notice of readiness is handed in by the Captain. Sundays, holidays, time of stormy weather preventing discharging as well as time during which discharging operations could not be carried out owing to technical and other conditions depending on the tanker are not to be included in the lay time.
Time allowed for tanker’s discharging is fixed at 50 per cent of the time stipulated in the Charter Party for loading and unloading.
Demurrage is to be paid at the rate stipulated in the Charter Party per day and pro rata for any part of the running day.
Claims
In case of non-conformity of the quality of the goods actually delivered by Sellers with the contract specification, any claim concerning the quality of the goods may be presented within two months of the date of delivery.
No claim shall be considered by Sellers after expiration of the above period.
No claim presented for one lot of the goods shall be regarded by Buyers as a reason for rejecting any other lot or lots of the goods to be delivered under the present contract.
Contingencies
Should any circumstances arise which prevent the complete or partial fulfillment by any of the parties of their respective obligations under this contract, namely: fire, ice conditions or any other acts of the elements, war, military operations of any character, prohibition of export or import or any other circumstances beyond the control of the parties, the time stipulated for the fulfillment of the obligations shall be extended for a period equal to that during which such circumstances last.
If the above circumstances last for more than 20 days, any delivery or deliveries which are to be made under the contract within that period may be cancelled on the declaration of any of the parties, and if the above circumstances last more than 40 days, each party shall have the right to discontinue any further fulfillment of their obligations under the contract in whole and in such cases neither of the parties shall have the right to make a demand upon the other party for compensation for any possible losses.
The party for whom it became impossible to meet its obligations under the contract shall immediately advise the other party as regards the beginning and the termination of the circumstances preventing the fulfillment of its obligations.
Certificates issued by the respective chamber of commerce of Sellers’ or Buyers’ country shall be sufficient proof of such circumstances and their duration.
Arbitration
Any dispute or difference which may arise out of or in connection with the present contract shall be settled, without recourse to courts of law, by the Foreign Trade Arbitration Commission of England Chamber of Commerce in London in accordance with the Rules for Procedure of the said Commission.
The awards of this Arbitration shall be considered final and binding upon both parties.
Other conditions
Neither party is entitled to transfer its rights and obligations under the present contract to a third party without the other party’s previous written consent.
Besides, Buyers are not entitled to resell or in any other way alienate the goods bought under this contract to any third country without the Sellers’ previous written consent.
After the signing of the present contract all previous negotiations and correspondence between the parties in connection with it shall be considered null and void if conflicting with this contract.
All amendments and additions to the present contract are valid only if they are made in writing and signed by both parties.
All taxes, customs and other dues connected with the conclusion and fulfillment of the present contract, levied within England, except those connected with the Letter of Credit, to be paid by Sellers, and those levied outside England to be paid by Buyers.
England is regarded as the place of conclusion and fulfillment of the contract.