Grain shipments to Turkey, Middle East and North Africa
Post on 22-Feb-2017
By Andrey PerepelitsaSenior lawyer, ACIArbGrain shipments to Turkey, Middle East andNorth Africa
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)
WHAT IS CHEAPER?
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.
... 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
CONFLICTSP&I ISSUESWAR CLAUSESINSURANCE ISSUESFORCE MAJEURE
TIPS & TRICKSFOREWARNED IS FOREARMEDGET ADVICEREAD THE CONTRACTSUSE THE TOOLS
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