CFR Contract Standard Template. We are pleased to indicate strictly on the following terms and conditions valid until :

Transcription

1 CFR Contract Standard Template We are pleased to indicate strictly on the following terms and conditions valid until : Date: Seller: DAY st MONTH 20XX Level 26, 175 Liverpool Street SYDNEY NSW 2000 AUSTRALIA Buyer: Commodity: Packing: Quantity: Australian Wheat In bulk. xxxx metric tonnes. (10% more or less in Sellers option at contract price) in bulk). Tolerance all to be at contract price. Quality: Moisture: 12.5% maximum Test Weight: 76 kg/hl minimum Foreign Material: 1.5 % maximum. Falling Number: minimum 350 secs Protein: 13.% Minimum Screenings: 5% Max (based on a 2mm screen) Shipment: To be agreed Cargo / part cargo permissible. Transhipment not permissible Delivery: Price: Payment: Cost and Freight Free out one safe berth TBA Agent at discharge port(s) to be at Sellerschoice. US$ mt Cost & Freight Free out one safe port one safe berth TBA By either One (1) irrevocable documentary Letter of Credit being negotiable and payable at sight in U.S. currency on presentation of shipping documents at BANK, ADDRESS, Sydney, NSW 2000, and in Australia. Letter of Credit to be opened no later than three days after conclusion of business and to be valid until 30 days after the last date of shipment. Letter of Credit to be opened through a first class bank acceptable to Sellers and to permit confirmation by Sellers at Sellers cost.

2 Documents presented with misspelling or typing errors that do not affect the material meaning of a word or sentence in which they occur do not make a document discrepant unless such errors relate to price,quantity, quality,size and delivery terms and so affect the material meaning. Letter of Credit to state that spelling mistakes should not be taken as discrepancies. Weight/Quality/Condition: Documents to be presented for negotiation within 21 days of Bill of Lading date to be acceptable All banking charges inside Australia are for beneficiary s account. All banking charges outside Australia including reimbursement charges are for the account of the applicant. Third party documents allowable excluding commercial invoice. Any delay in opening letter of credit will result in automatic extension of shipment on a 1:1 basis. The Seller reserves the right to cancel or suspend the contract if the Letter of Credit is not received in a clean and fully workable form, including necessary amendments (for opening bank s account) within the time-frame stipulated above. Or 30 pct Cash deposit within three working days and then Cash against Fax Copy documents All Final at Load port(s) as per Australian Superintendence Company Certificates at sellers expense using a GAFTA accredited laboratory in Australia. Insurance: Cargo to be at Buyers risk upon delivery over the ship s rail and the Buyers shall insure the cargo placed on board, or in custody of the Master, from the commencement of loading until payment in accordance with this contract. The Buyers will take out insurance with first class underwriters incorporating Institute Strikes, Riots and Civil Commotions Clauses and covering war risks, under which the Sellers may claim directly from the insurer. Cargo insurance should be at least in accordance with Institute Cargo Clauses "A" produced by the Institute of London Underwriters. Insurance to be confirmed with name of insurer and policy number by Buyers to Sellers for 110% of cargo value, at least 5 consecutive days prior to expected readiness of Vessel(s) otherwise GAFTA 72 applies. If Buyers fail to

3 provide such confirmation Sellers shall have the right to place such insurance at Buyers risk and expense. Any general average is for the Buyer's account. Documents: Documents to be presented for payment under the L/C: Sellers commercial invoice Full set of bills of lading (3 originals + 3 non/negotiable copies ) Certificate of Origin issued in the country of origin Other documents required to be agreed between buyers and sellers Discharge Rate: Discharge Time: Cargo is to be discharged free of risk and expense to the vessel at the average rate of xxx tons of 1,000 kilos per weather working day of twenty four consecutive hours. Time from xxx until xxxx not to count even if used. Lay time shall commence from xxx hours on the next business day (unless sooner commenced) provided that Notice of Readiness is validly tendered in writing or by electronic communication by the Master or vessel s agent during ordinary office hours between xxx hours and xxx hours xxx to xxx(xxx and holidays excepted) whether in port or not (WIPON), whether in berth or not (WIBON), whether customs cleared or not (WCCON) at the port of discharge, or so near there unto as the vessel may be permitted to approach. If a suitable discharging berth is not available on vessel s arrival at or off the discharging port, the vessel or her agents shall be entitled to give Notice of Readiness on arrival at the anchorage place, whether within or outside of the commercial limits of the port, whether in free pratique or not (WIFPON) and whether entered at the customs or not (WICCON). Time occupied in shifting from place of waiting to discharging berth shall not count as lay time. If after berthing the vessel is found not to be ready in all respects to discharge, the actual time lost from discovery thereof until the vessel is in fact ready to discharge shall not count as lay time. Excepted time as per Charter Party not to count unless the vessel is on demurrage. All other terms as per GNC Amended AustWheat Charter Party 1990 Demurrage Rate: Should the vessel not be discharged at the rate herein stipulated, Demurrage shall be paid at the rate as per the Charter Party and pro rata for any part of a day. For all lay time saved despatch money shall be paid at the rate of one-half of the above rate of demurrage. Despatch money, if any, at discharging port or ports shall be calculated on the basis of a weather working day of 24 consecutive hours, but any time lost on a working day owing to weather conditions shall not count provided work is actually stopped or prevented thereby.

4 Demurrage or despatch, if any, at discharging port or ports shall be paid when and where incurred and the cargo shall be treated as a whole and settlement is to be within 30 days of completion of discharge. Lay time at port(s) of loading and discharging to be non-reversible. Once on demurrage always on demurrage. Prohibition: Taxes / Dues: In case of prohibition of export, blockade or hostilities, or in case of any executive or legislative act done by or on behalf of the government of the country of origin or the Sate or of the Territory where the port or ports of shipment named in the Contract is/are situated, restricting export, whether partially or otherwise, any such restriction shall be deemed by both parties to apply to the Contract and to the extent the Contract or any unfulfilled portion thereof shall be cancelled. Seller shall advise Buyers without delay with the reasons therefore and, if required, Sellers must produce proof to justify the cancellation. All import taxes, duties etc, present and future are for Buyers account. Any change in present structure in imports duties or levies or taxes or duties of whatsoever nature imposed by the importing country shall be solely for Buyers account and shall not in anyway constitute force majeure. All export duties, taxes are for sellers account. Force Majeure A "Force Majeure Event" is defined as any (i) war, whether declared or undeclared, hostilities, revolution or act of public enemies; (ii) riot, ban, strike, lock-out, civil commotion, difference with or between any workmen or industrial action; (iii) contamination arising out of any accidents to, or breakdown or failure of machinery, infrastructure, plant or equipment; (iv) fire, natural disaster, drought, storm, severe weather or flooding, or acts of God; (v) terrorism or terrorism prevention; (vi) legislative or policy or restriction of any governments, governmental or semi-governmental or regulatory authorities or agencies, including but not limited to any prohibition or restrictions of exporting or importing whether partially or otherwise; (vii) currency restriction; (viii) accidents, damage or destruction of machinery, infrastructure, plant or equipment; (ix) blockage, stoppage, accident or hazard in navigable waters; (x) action or inaction in connection with any license, permit or approval; (xi) delay in the shipment of the Cargo or the forwarding of the Cargo to the loading point; or (xii) any other event or contingency, whether or not of a similar kind to the specific contingencies mentioned in this clause, where any such event/contingency, or any alleged consequent impact of same on its obligations under this Contract is, or was, beyond the reasonable control of the party asserting the existence of the Force Majeure Event. Neither party shall be liable to the other under this Contract for any delay in performance of, or non performance of its obligations under or in accordance with this Contract, if such delay or non performance is as a result of a Force Majeure

5 Event and due notice, as described below, has been provided. The party whose performance of any obligation under this Contract is directly affected, or who has reason to believe that its performance may be affected by a Force Majeure Event shall, within 48 hours after the commencement of the Force Majeure Event, or when the party first becomes aware of the Force Majeure Event or reasonable threat of same, whichever is the earlier, give written notice thereof to the other party to the Contract, and shall take all reasonable measures to remove, overcome or minimise the effects of the Force Majeure Event. Such notice shall include details of the nature, likely duration, the obligations affected by the alleged Force Majeure Event, the extent or possible extent of its effect on those obligations, and the steps taken by the party invoking the existence of a Force Majeure Event to rectify it. For the avoidance of any doubt, performance of the Sellers' obligations (including but not limited to laytime even where on demurrage) shall be suspended to the extent to which they are affected by the Force Majeure Event, and for the duration of the Force Majeure event. If a Force Majeure Event continues for 30 days, then the Sellers have the right to extend the Delivery Period by a further 30 days. If the Force Majeure Event continues after the expiry of these further 30 days, then the Contract shall be terminated automatically, and neither party shall have a claim against the other for delay or non-performance, provided that satisfactory evidence justifying the existence of a Force Majeure Event and the consequent delay or non-performance is presented to the other party. Other: Where not in conflict with the above, all other terms as per GAFTA (Grain and Feed Trade Association, London) Contract No. 19, (including extension of shipment clause) and Arbitration Rule No. 125 apply. Buyer and Seller both agree with the familiarity of the text of the said contract. Rotation of discharge ports to be in Sellers option No restriction on performing vessel type or specifications. Vessel up to 30 years of Age acceptable. Overage Insurance Premium (OAP) for vessel over 15 years of age to be paid by seller as per Lloyds scale applicable at time of contract. THE VALIDITY OF THIS CONTRACT WILL BE UNAFFECTED BY NON-RETURN OF THE CONFIRMATION DULY SIGNED BY YOUR GOODSELVES Confirmed by Buyer Confirmed by Seller XXXXXX

6 Date: Date: XX st MONTH, 200X