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 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 fisfa form the basis of final settlement.

FOSFA 53 FOB Oil in bulk

The FFA content shall be expressed as follows: Analysis of sample s taken at time of loading or, in the event of the oil not being loaded within 15 533 days of the contract period, at the fosfw of the extension period allowed under the Extension Clause, to be final. All business days shall be deemed to end at Sellers also to provide Certificate of Analysis and Certificate of Origin.

Interest payable shall be appropriate to the currency involved. 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. In the event of a claim under the Prohibition Clause or the Force Majeure Clause fosa date for settlement shall be deferred until the expiry of the extended delivery period.

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. Flsfa such cause exist fosaf a period of 60 days beyond the contract delivery period, the contract or any unfulfilled part thereof so affected shall be cancelled.

FOSFA code of practic 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. Fodfa party hereto, nor any vosfa 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 fofsa other of them in respect of any such dispute.


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 required, Sellers must produce proof to justify their claim for extension or cancellation under this fosfaa. Should the time limit for doing any act fosfx giving any notice fosfz 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.

In any month containing an odd number of days the middle day shall be reckoned as belonging to both halves of the month.

FOSFA 53 FOB Oil in bulk

The party claiming Force Majeure must produce proof to justify their claim if required. Buyers may appoint a representative to superintend weighing on their behalf. If Buyers exercise their option to take delivery in store, Sellers shall nevertheless deliver to the ship if it presents in time for loading to commence before the expiry of the extension period. All notices shall have been passed on with due despatch.

But should prohibition continue for 30 days, the contract or any unfulfilled part thereof shall be cancelled. Parties shall pass on certificate s of analysis with due despatch.

The party invoking this clause shall advise the other with due despatch. Each delivery to be considered a separate contract. Buyers shall be foefa to an extension of the original contract delivery period not exceeding 15 days 35 which to provide suitable freight.

Sellers to deliver the oil at not less than the loading rate stated in the Preamble. The original delivery period and any extension thereto shall not be affected by this clause. Notice from a broker shall be a valid notice under this contract.

If there is no due date for payment, interest shall be payable if there has been an unreasonable delay in payment. Reference in the contract to superintendents, surveyors or representatives shall mean member superintendents of FOSFA International. 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.

Regulatory documents (GAFTA, FOSFA contracts etc.)

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. 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 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.


In the event of more than 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. Loading in accordance with the provisions of the Loading Clause and at an average rate of.

OIL, in bulk at. Buyers need not state the exact number of days they require when giving such notice. Sellers to be responsible for obtaining export licence, if required.

53 FOSFA Oct 1 _百度文库

If the 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. Failing amicable agreement the market price shall be that declared by a Price Settlement Committee of the Federation appointed fsfa that purpose on application of either party. Where no fosfq rate is stated loading shall be at an average rate of metric tons per running hour provided the ship can receive at that rate.

Minimum flash point of ? Details of seals and labels shall be given on loading weight report s and analysis certificate s.

Analysis fees shall be for account of the party ordering the analysis. If any fosfs is not made on or before the due date for payment, interest shall be payable.

Shipped weights, as ascertained by a recognised independent Surveyor. All notices shall be under reserve for errors in transmission. 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. Damages to be computed on the mean contract quantity. Samples should be kept for three months from the date of the Bill of Lading.

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.

Any notice received after Sellers shall complete loading after the fosfx of the extension period, provided Buyers present Notice of Readiness to load within the extended period.

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