Arbitration practice: Interlegal experts initiated proceedings at GAFTA Arbitration.
The dispute arose between the Swiss company (the Seller) and the Turkish company (the Buyer) due to non-fulfillment of the Buyer’s obligations under the Contract on FOB supply of 5000 MT of the Ukrainian grain to the Turkish port at the Buyer’s option.
The dispute arose due to the Buyer’s denial to nominate the vessel within the period set forth in the Contract. The Buyer motivated its denial to fulfill contractual obligations by the current dispute with the Seller under another unrelated contract.
Having studied case materials, Interlegal experts qualified the Buyer’s actions as default, thus the claim on the Buyer’s default and damage recovery was filed to GAFTA Arbitration.