A contract is an exchange of promises between two or more parties to do or refrain from doing an act which is enforceable in a court of law. It is where an unqualified offer meets a qualified acceptance and the parties reach Consensus ad Idem. The parties must have the necessary capacity to contract and the contract must not be either trifling, indeterminate, impossible or illegal.
Foreign-economic activity. Execution of the contract. Logistics is the management of the flow of goods, information and other resources, including energy and people, between the point of origin and the point of consumption in order to meet the requirements of consumers (frequently, and originally, military organizations).
BILL OF LADING TO BE USED WITH CHARTER-PARTIES
CODE NAME: CONGENBILL. EDITION 1994. ADOPTED BY THE BALTIC AND INTERNATIONAL MARITIME CONFERENCE (BIMCO)
Conditions of Carriage.
1 All terms and conditions, liberties and exceptions of the Charter Party, dated as overleaf, are herewith incorporated. The Carrier shall in no case be responsible for loss of or damage to cargo arisen prior to loading and after discharging.
2 GENERAL PARAMOUNT CLAUSE.
The Hague Rules contained in the International Convention for the Unification of certain rules relating to Bills of Lading, dated Brussels the 25th August 1924 as enacted in the country of shipment shall apply to this contract. When no such enactment is in force in the country of shipment, the corresponding legislation of the country of destination shall apply, but in respect of shipments to which no such enactments are compulsorily applicable, the terms of the said Convention shall apply.
Trades where Hague-Visby Rules apply.
Charter Party (Lat. charta partita, a legal paper or instrument, divided, i.e. written in duplicate so that each party retains half), a written, or partly written and partly printed, contract between a shipowner and a merchant, by which a ship is let or hired for the conveyance of goods on a specified voyage, or for a defined period. A vessel might also be chartered to carry passengers on a journey. Also, a written contract between shipowner and charterer whereby a ship is hired; all terms, conditions and exceptions are stated in the contract or incorporated by reference.
A charter party is the contract between the owner of a vessel and the charterer for the use of a vessel. The charterer takes over the vessel for either a certain amount of time (a time charter) or for a certain point-to-point voyage (a voyage charter), giving rise to these two main types of charter agreement. There is a subtype of time charter called the demise or bareboat charter.
In a time charter, the vessel is hired for a specific amount of time. The owner still manages the vessel but the charterer givers orders for the employment of the vessel, and may sub-charter the vessel on a time charter or voyage charter basis.
The demise or bareboat charter is a subtype of time charter in which the charter takes responsibility for the crewing and maintenance of the ship during the time of the charter, assuming the legal responsibilities of the owner and is known as a disponent owner.
In a voyage charter, the charterer hires the vessel for a single voyage, and the vessel's owner (or disponent owner) provides the master, crew, bunkers and supplies.
US Law. (Note the US regime below can also be applied into charterparties or contracts of carriage subject to the laws of other jurisdictions.)
Contract of Transshipment ____. __th of ________ 201_.
__ Ukraine, represented by the director ___, acting on the basis of the Statute, hereinafter referred to as EXECUTOR, on the one part and ______. represented by ____________, acting on the basis of the ______________, hereinafter referred to as CLIENT, on the other part have signed the present Contract on the following:
1. SUBJECT OF CONTRACT
The subject of the Contract is handling and storage without forwarding and agency of a vessel the Client’s exporting and transit grain cargoes at the terminal ___, situated on address: ___, Ukraine , further referred to as TERMINAL.
2. CLIENT’S RIGHTS AND OBLIGATIONS
2.1. The Client is obliged to send the written instructions with indications of quality’s indexes about cargo which is being delivered to the Executor and give all necessary information about cargo, means of transport and conditions of its delivery to the Terminal.
Execution of the contract.
Logistics is the management of the flow of goods, information and other resources, including energy and people, between the point of origin and the point of consumption in order to meet the requirements of consumers (frequently, and originally, military organizations).
Logistics of flowing money during execution contracts of vessels’ shipments. (database MS Access).
Documentary logistics - Department
1 Contract of Purchase, GAFTA, FOSFA, B/G, L/C, CAD - Execution
2 Contract of Sale, GAFTA, FOSFA B/G, L/C, CAD - Execution
3 Nomination of the vessel/ Booking of containers. Execution
4.1 Containers/ Vessels data to Shippers, Execution
4.2 Containers/ Vessels data to Buyers. Execution
4.3 Containers/ Vessels data to Bank. Execution
4.4 Containers/ Vessels data to Bank’s Liberation. Execution
4.5 Containers/ Vessels data to Brokers. Execution
5 Payment to shippers
5.1 Invoices from Shippers/ Sellers. Account
5.2 Payments to Shippers/ Sellers. Account
6.1 Documentary instruction fm Buyer to Shippers. Execution
6.2 Documentary instruction fm Buyer to Forwarding agent. Execution
6.3 Documentary instruction fm Buyer to Customs broker. Execution
6.4 Nomination of surveyor (GAFTA, FOSFA, ISO, GOST, DSTU). Execution
VALIDATED by the Decree of the Cabinet of Ministers of Ukraine No.770
RULES of the execution of the transport service and freight forwarding during the transfer of foreign.trade.and transit cargoes.
These Rules define terms and conditions of the effecting of the transport service and freight forwarding of foreign trade and transit cargoes (hereinafter, as a rule-cargoes) and the procedure of their transportation and they are obligatory for all participants of transport and freight forwarding process.
Transport and freight forwarding activity
1. Transport service and freight forwarding, activity are being carried out by the subjects of business activities – by freight forwarders which have received the special permit (license) for this kind of activity in accordance with established procedure and act by order of consignors and consignees (hereinafter - cargo owners) Freight forwarders performs their functions without any interference to the economic activities of transport
2. Transport and freight forwarding services being provided by freight forwarders consist of complex of different services which arc connected with preparation and dispatch of cargoes, carrying out of mutual settlements, control for passing and receiving of cargoes.
3. The freight forwarders according to the order of cargo owners: organize transporting
Broker Article Count: 11
This Code of Practice is for the guidance of Brokers and their clients engaged Trades. It sets out the ideal procedures to follow and failure to comply with the Code does not in itself invalidate a contract or agreement between two contracting parties.
Carriage Article Count: 12
Contracts Article Count: 11
This section for negotiations and conclusions of contracts various commodities, Incoterms basis, standard contracts (GAFTA, FOSFA), way of payments (LC, BG, CAD) and etc., as it mentioned below in sections terms.
A contract is an exchange of promises between two or more parties to do or refrain from doing an act which is enforceable in a court of law.
Contract could be present for you based on specific condition of your commodity and terms. Section is for contracts on F basis as per Incoterms 2010 such as FOB, FAS, FCA.
Basic items in the short form contract are: Sellers; Buyers; Quantity; Description of goods; Quality of goods; Packing; Shipment date; Price; Payment; Other conditions.
FOSFA Article Count: 19
The Federation of Oils, Seeds and Fats Associations (FOSFA).
FOSFA is a professional international contract issuing and arbitral body concerned exclusively with the world trade in oilseeds, oils and fats with over 850 members in 75 countries (2009). These members include producers and processors, shippers and dealers, traders, brokers and agents, superintendents, analysts, shipowners, tank storage companies and others, providing services to traders.
FOSFA has an extensive range of standard forms of contracts covering goods shipped either CIF, C&F or FOB, for soybeans, sunflowerseeds, rapeseed, and others, vegetable and marine oils and fats, refined oils and fats, from all origins worldwide, for different methods of transportation and different terms of trade. Internationally, 85% of the global trade in oils and fats is traded under FOSFA contracts.
Futures Article Count: 7
There are Cereals (Corn, Barley, Wheat), Oilseeds (Rapeseeds, Soybeans), Soyoil and Soymeal Futures. Futures contracts are standardized except for the price, which is discovered via the supply (offers) and the demand (bids). We are have knowledge in fundamental and technical analyses of future commodities, forex markets. A futures contract is a commitment to make or take delivery of a specific quantity and quality of a given commodity at a specific delivery location and time in the future. This price discovery process occurs through an exchange’s electronic trading system or by open auction on the trading floor of a regulated commodity exchange.
GAFTA Article Count: 12
THE GRAIN AND FEED TRADE ASSOCIATION.
Incoterms Article Count: 11
Inspections Article Count: 6
Payment Article Count: 7
Price Article Count: 7
Commodity Price. There are always three prices while financial markets are open: the bid, the ask and the last price. The bid is the highest current order to buy, and the offer is the lowest current order to sell. To buy you can post a bid, or buy from the offer price. To sell you can post an offer, or sell to the bid price. When a buyer and seller meet the trade is recorded, with the most recent transaction being called the Last price.
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