General Trade Terms

Draft General Trade Terms
Quality and condition are final at load as per a certificate issued by a GAFTA/FOSFA registered surveyor at Seller’s cost and choice.
Weight is final at load as per a certificate issued by a GAFTA/FOSFA registered surveyor at Seller’s cost and choice.
The accepted tolerance of quantity is plus/minus 10% at Seller’s option.
Buyer has the right to nominate a GAFTA/FOSFA registered surveyor at his own costs for co-jointed inspection at time of loading.
Payment terms to be mutually agreed between Seller and Buyer.
Standard package of shipping documents:
  • Commercial Invoice;
  • Full set original Bills of Lading marked “Shipped on board”;
  • Weight and Quality Certificates issued by a GAFTA/FOSFA registered surveyor;
  • Certificate of Origin or EUR.1 Certificate issued by the respective authorities;
  • Phytosanitary Certificate issued by the official authorities in the country of origin;
  • Other documents mutually agreed between Seller and Buyer.
In case of shipments by bulk vessels the respective vessel shall be loaded or discharged, depending on the exact condition of delivery, at the rate of mutually agreed tonnage per WWD of 24 consecutive hours, Saturdays, Sundays (or local equivalents) and official holidays (as per BIMCO) excluded even if used. N.O.R. to be given within ordinary office working hours, WIPON, WIBON, WICCON, WIFPON. Laytime to start to count at 14:00 hours if N.O.R. is given before noon respectively at 08:00 hours next working day if N.O.R. is given after noon.
All other terms, conditions and rules, not in contradiction with the present General Trade Terms, are as per the sale-purchase contract and respective GAFTA/FOSFA contracts.
Arbitration in accordance with the respective actual rules of arbitration and appeal of GAFTA/ FOSFA. English Law to apply.

For your convenience, and in addition to present General Trade Terms, please check below links to GAFTA and FOSFA websites where you can find detailed information about the respective contract models: