- Parent Category: Contacts
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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 on 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.
Coming from foregoing and also following the division of FOSFA 53 point 26 DEFAULT: In default of fulfilment of this contract by either party, the other party at his discretion shall, after giving notice, have the right either to cancel the contract, or the right to sell or purchase, as the case may be, against the defaulter who shall on demand make good the loss, if any, on such sale or purchase.