Gafta No.86 CONTRACT FOR FULL CONTAINER LOADS. We can prepare contract between Seller and Buyer via Broker based on own experience with GAFTA terms applied.
Gafta No.86. Effective 1st January 2006
CONTRACT FOR FULL CONTAINER LOADS
THE GRAIN AND FEED TRADE ASSOCIATION
delete/specify as applicable Date
INTERVENING AS BROKERS
have this day entered into a contract on the following terms and conditions.
1. GOODS- ___
2. QUANTITY- ___ full containers each estimated to contain __
3. PRICE AND DESTINATION - At __
FAS FREE ALONGSIDE SHIP (... named port of shipment)
Free Alongside Ship means that the seller delivers when the goods are placed alongside the vessel at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that moment.
The FAS term requires the seller to clear the goods for export.
THIS IS A REVERSAL FROM PREVIOUS INCOTERMSVERSIONS WHICH REQUIRED THE BUYER TO ARRANGE FOR EXPORT CLEARANCE.
However, if the parties wish the buyer to clear the goods for export, this should be made clear by adding explicit wording to this effect in the contract of sale.
This term can be used only for sea or inland waterway transport.