grain shipments to turkey, middle east and north africa
TRANSCRIPT
By Andrey PerepelitsaSenior lawyer, ACIArb
Grain shipments to Turkey,
Middle East andNorth Africa
WHATMAY
AFFECT?DISTANCE
CONFLICTS
PAYMENT DELAYSLOCAL SPECIFICS
BLACK SEA – EGYPT: 5-7 DAYSBLACK SEA – UAE: 12-14 DAYSBLACK SEA – IRAN: 14-16 DAYS
TURKEY: 2-3 DAYS
Goods: BarleyTerms: FOBLoading: Ukraine Discharge: UAEDemurrage: As per C/P(USD 8000 PDPR)
QUANTITY
DISPUTE
WHAT IS CHEAPER?
ESCROW AGREEMENT
Goods: BarleyTerms: CIFLoading: Ukraine Discharge: IranPayment: 10% advance upon signature60% after loading30% against cargo docs
Where are the monies?
Payment arranged.SWIFT slip as confirmation.
NOT RECEIVED!
... Payment transaction is considered to be completed when the funds are at disposal of the recipient in accordance with the agreements of the receiving bank with the recipient or in accordance with normal practice in the bank of receiving country
RULES OF TRANSACTIONS
It seems you are in default!What we are going to do with this…?
What are the options?
• Default Notice• Goods sold to the 3rd party• Calculation of default price and expenses• Official claim• Arbitration• Enforcement
OPTION 1
OPTION 2• Additional Agreement• Vessel shall not enter territorial waters of
country of destination until full payment received
• All expenses for the Buyers’ account
LOCAL SPECIFICSCUSTOMSSANITARYJUDICIARY
BUSINESS STYLE
DISCOUNT?
DETENTION!
NO WAY!
CONFLICTSP&I ISSUES
WAR CLAUSESINSURANCE ISSUES
FORCE MAJEURE
TIPS & TRICKS
FOREWARNED IS FOREARMED
GET ADVICEREAD THE CONTRACTS
USE THE TOOLS
24 / 7 / 365
PLAY YOUR GAME .
You are not limited by the horizon