Arbitration

If there is a conflict related to the contract between the two companies, and both of them
could not find an agreement, the issue should be addressed to the arbitration under GAFTA
rules. The main issue is that both of the companies could not find a mutual solution that could
satisfy them both. The arbitration will decide upon them and its decision will be final, both
parties will abide by the decision and the party that lost the case will have to pay the
arbitration fees.

Inspection

The Phytosanitary Certificate should be taken into consideration as valid and final, along with
the quality/weight certificate.

Default

The following points should be applied if a default of fulfillment by either party happens:
After giving notice by any means of communication to the defaulter, the non-defaulter party
has the right to sell or purchase against the defaulter. The default price will be established by
the sale or purchase.
When the right of selling and buying against the defaulter is not done or both parties do not
appreciate the default price, the arbitration will assess the damages.
The fees resulting from the defaulters breach of contract should be included in the damages.
The computation of the damages should be made in relation to the quantity called for.
The amount of payable damages equals the default price subtracted from the contract price, or
we can replace the default price by the estimated actual value of goods by the arbitrator.

Force Major

This contract is executed under the force major practice.

Special conditions

Gafta governs this contract, port taxes, peage and droit de quai are directed to the buyers
account.
This contract is governed by GAFTA 30. Port taxes on cargo or freight, peage and droit de
quai are for the Buyers account. Overage premium is for the sellers account. (Vessel of
maximum 15 years).