Grain shipments to Turkey, Middle East and North Africa

Download Grain shipments to Turkey, Middle East and North Africa

Post on 22-Feb-2017

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By Andrey PerepelitsaSenior lawyer, ACIArbGrain shipments to Turkey, Middle East andNorth Africa

WHATMAYAFFECT?DISTANCE

CONFLICTS

PAYMENT DELAYS

LOCAL SPECIFICS

BLACK SEA EGYPT: 5-7 DAYS

BLACK SEA UAE: 12-14 DAYS

BLACK SEA IRAN: 14-16 DAYS

TURKEY: 2-3 DAYS

Goods:BarleyTerms: FOBLoading: Ukraine Discharge: UAEDemurrage: As per C/P(USD 8000 PDPR)

QUANTITYDISPUTE

WHAT IS CHEAPER?

ESCROW AGREEMENT

Goods:BarleyTerms: CIFLoading: Ukraine Discharge: IranPayment: 10% advance upon signature60% after loading30% against cargo docs

Where are the monies?

Payment arranged.SWIFT slip as confirmation.

NOT RECEIVED!

... Payment transaction is considered to be completed when the funds are at disposal of the recipient in accordance with the agreements of the receiving bank with the recipient or in accordance with normal practice in the bank of receiving countryRULES OF TRANSACTIONS

It seems you are in default!What we are going to do with this?

What are the options?

Default NoticeGoods sold to the 3rd partyCalculation of default price and expensesOfficial claimArbitrationEnforcementOPTION 1

OPTION 2Additional AgreementVessel shall not enter territorial waters of country of destination until full payment receivedAll expenses for the Buyers account

LOCAL SPECIFICSCUSTOMSSANITARYJUDICIARYBUSINESS STYLE

DISCOUNT?

DETENTION!

NO WAY!

CONFLICTSP&I ISSUESWAR CLAUSESINSURANCE ISSUESFORCE MAJEURE

TIPS & TRICKSFOREWARNED IS FOREARMEDGET ADVICEREAD THE CONTRACTSUSE THE TOOLS

24 / 7 / 365

PLAY YOUR GAME .You are not limited by the horizon