A reader asks “what happens if Sellers do not take the bait. If they fail to respond or, perhaps, do so and maintain their previous position.”
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The issue – Have Sellers jumped the gun + placed Buyers in default before a default has occurred.
The Relevant Facts. Sellers sell + Buyers buy 15,000 mts of Cottonseed Expellers at USD300 per metric ton (pmt) for shipment March/April 2021 CIF Rotterdam.
I concluded #162 on 20 August with the words “We are all in the grip of our working norms”. Human beings tend to repeat.
In episode 2 I highlighted the legal principles that come into play in commodity trade + shipping arbitrations.
I concluded yesterday – “The trade excels in trade matters but the arbitrators have to acquire experience of legal issues
Arbitration in the UK operates in many different sectors – some commercial + some social.
Mr Graham Perry M.A. Cantab FCIArb
Experienced Arbitration Lawyer | China & Chinese Business Affairs | Public Speaker/Lecturer