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Sales Contract
Sales Contract
Kelas : AB 5 B
SALES CONTRACT
No. 007/USA/2019
Date: 01/10/2019
Between: Name: Khellogg’s Company
Address: Jl. Raya Bogor KM 5 Pasar Rebo, Kota Jakarta Timur, DKI Jakarta
It has been mutually agreed to the sale and purchase of rice on the terms and conditions
as follows:
2. Specification:
- Broken: 5% max
- Moisture:
- Foreign matter:
In words: One million three hundred ninety five thousand US Dollar only
5. Packaging: Milk to be packed in single new jute bags of 50 kgs net each, about 50.6
kgs gross each, hand-sewn at mouth with jute twine thread suitable for rough, handling
and sea transportation. The Seller will supply 0.2% of new jute bags, free of charge, out
of quantity of bags shipped.
Loading condition: 800MT per weather working day of 24 consecutive hours, Sundays,
holidays excepted even if used, base on the use of at least four to five normal working
hatches/ holds and all cranes/derricks and winches available in good order, if less than
prorate
Demurrage/ Dispatch: if any, to be as per C/P rate, but maximum of 4,000/2,000 USD
per day or prorate and to be settled directly between Seller and Buyer within 90 days after
B/L date.
Loading term: Lay time to commence at 1PM if N.O.R given before noon and at 8AM
next working day if N.O.R given in the afternoon during office hours, in case of vessel
waiting for berth due to congestion, time commences to count 72 hours after N.O.R
submitted.
8. Payment:
a. After signing the contract, the Buyer or the Buyer's nominee (America (USA)
MANUFACTURING CO,. LTD or other nominee) shall telex asking the Seller to open
P.B of 1% of total L/C amount at Bank Negara Indonesia, Jakarta within two days
thereof. The Seller shall open P.B and inform the Buyer; then, four days after receiving
Bank Negara Indonesia’s confirmation; the Buyer shall open a telegraphic, irrevocable
and confirmed L/C which is in conformity with this contract by an international first class
bank at sight with T.T.R acceptable for 40,000 MT in favor of Frisian Flag, Jakarta
through the Bank Negara Indonesia. For 60,000 MT the Buyer of Buyer's nominee shall
open a telegraphic, irrevocable and transferable at sight L/C which is in conformity with
this contract with TTR acceptable. In this case, the Seller requests the confirmation of
L/C, the L/C shall be confirmed for Seller's account. In the event that the Buyer fails to
open L/C four days after receiving confirmation from Bank Negara Indonesia then Seller
shall collect P.B from the Bank Negara Indonesia and then the contract is automatically
canceled. The Seller will collect the P.B against presentation of shipping documents at
Bank Negara Indonesia.
- Full set of "Clean on board" B/L – in three (3) originals marked "Freight to collect"
- Certificates of quality, weight and packing issued by the Frisian Flag to be final at
loading port in six (6) folds.
- Phytosanitary certificate issued by the competent authority of Indonesia in six (6) folds.
- Cable/ fax/ Telex advertising shipment Particulars within 24 hours after completion of
loading.
9. Force Majeure:
The Force Majeure (exemption) clause of the International Chamber of Commerce (ICC
publication No 421) is hereby incorporated in this contract.
Force Majeure circumstances must be notified by each party to other within 7 days and
confirmed by writing within 10 days together. Beyond this time Force Majeure
circumstances shall not be taken into consideration.
12. Arbitration:
All disputes arising in connection with this contract shall be finally settled by
International Arbitration Center of Indonesia under International Commercial Law. The
place of arbitration shall be the capital of seller’s country. The language of arbitration
shall be in English. The parties agree that any award made in accordance with the
provisions of this clause is final and binding on both of them. Arbitration charge and any
other charges will be borne by the losing party.
This contract is made in 06 originals in English language, three for each party
This contract is subject to the Buyer's final confirmation by telex (November 10th, 2019
latest).