Arbitration Cases, Default
In accordance with a contract , Seller, Buyer, Period of delivery, Quantity:
Seller executed the obligations after the giving of commodity in port of loading and to the grant of necessary documents, to what testifies:
- Invoice № for the amount of USD
- FCR - # dated ____ for the tonnage ____ MT.
Buyer partly paid as per invoice on ____ to the amount of ______ USD and on ______ to the amount of _________ USD
Coming from foregoing the Buyer did not execute the obligations in obedience to the terms of contract, namely:
- 100% contract value did not pay full amount within 3 days from the day of presentation of documents on _____. Delay of payment through fault of Customer from _____ till _______.
- did not pay fully charges for the transactions.
- did not present vessel for loading in contractual period of ________
- Did not inquiry for the extension of delivery as per FOSFA 53 point 12. EXTENSION: Buyers shall be entitled to an extension of the original contract delivery period not exceeding 15 days in which to provide suitable freight. Notice of such extension shall be given to Sellers as soon as possible but not later than the last business day of the original contract delivery period.