Welcome to annual training << English Contract Law in Сommodity Trading >>

Annual practical training course 

ONLINE 

February 25-26

English Contract Law in Сommodity Trading  

Simultaneous translation will be provided

On the 25-26th of February Interlegal invites you to join our traditional practical training course «English Contract Law in Сommodity Trading” for the trading and logistics companies.

The peculiarity of the training course is in perfect combination of theoretical knowledge and practical skills from experienced lawyers and international arbitrators.

Training content is based on: 
- English Contract Law in commodity trading; 
- examples and cases of the execution of grain trading contracts; 
- overview of current trends in dispute resolution and settlement of disputes. 

Speakers will share the current trends on international arbitration institutions and deliver how to avoid the most common mistakes in trading contract performance. 

Every day, in the field of international trade and shipping, thousands of contracts are concluded between persons speaking different languages, working in different legal systems, and often having different understandings of the same terms of the contract. That is why the vast majority of market participants use standard forms, developed by specialized associations, when drawing up contracts.

International trade in grains is performed using standard forms of GAFTA and FOSFA contracts. The Grain and Feed Trade Association (GAFTA) and the Federation of Oils, Seeds and Fats Associations (FOSFA) are non-governmental international associations and arbitration bodies, whose main aim is to promote international trade in grain, feed, oils and fats.

Traders and Brokers should be aware that English law plays a dominant part in the international sale of commodities, especially for dry commodities. This is so even where the parties and the cargoes traded have no physical connection with England.  English law has a rich history of case law which provides guidance to trading companies when dealing with sales on FOB, CIF and similar terms.

The course will examine and lead participants through the obligations and rights in such contracts and will cover the allied contracts, required in documentary sales, such as Contracts of Carriage (Bills of Lading and Charter Parties), Insurance and Letters of Credit and other documents required by such sale contracts.

We will also cover Dispute Resolution and the value to Traders of being members of Trade associations when it comes to using the various Arbitration Services such Trade Associations provide

Common causes of disputes in the execution of contracts in the Black Sea basin:
- different understanding of the moment from which the obligation to pay for the goods is considered fulfilled,
- delays or loss of payments,
- action of insurmountable circumstances,
- compliance with the default procedure, etc.

Entering into an international commodities contract, a simple rule should be observed: know and understand the provisions and procedure to be included in a contract. And what to do if something goes wrong.

"English Contract Law in Сommodity Trading" training commenced by International Law Firm "Interlegal" (hereinafter - Interlegal) is unique intellectual product of Interlegal based on our legal experience from 1995 and is not supported by any international associations or government bodies. 

The event will happen online via Zoom platform

Start – February 25, 11.00 (Ukrainian time)

Preliminary Program:

Moderator: Arthur Nitsevych, partner, Interlegal

February, 25

Day 1. Business as usual under English Law

11.00 - 11.10 Welcoming participants, technical check

11.10 - 13.10 English law: common principles and mistakes

- What is a contract & how it is formed – importance of consideration.
- No doctrine of good faith in English law “Caveat Emptor” and all that.
- Nomination/Appropriation
- Passing of title – what sellers need to do to get paid promptly
- Destination Restriction Clauses- an update with COVID-19 in mind precautions that should be taken.

- Common mistakes at the contractual correspondence  
- Breach of condition, as a right to walk away from the contract & claim damages  
- Difference between English common law & civil law jurisdictions  
- Bill of Lading, Contract and Charter Party: correlation and impact. 
- Demurrage under the Charter Party and commercial contract: main differences

Speaker: Richard Faint, LMAA arbitrator, GAFTA ex-arbitrator, FOSFA arbitrator, United Kingdom

13.10 - 14.10 Q&A Session 

February, 26

Day 2. "If something goes wrong"

Arbitration in London: useful tips

Speaker: Andrey Perepelitsa, maritime and arbitration expert

Contract execution issues in container transportation of grain & oilseeds

Karyna Gorovaya, senior associate, Interlegal

 

Recent Black Sea practice case study (TOP 5 high importance cases on contract execution, dispute settlements and claims handling procedures)

Speakers: Alexey Remeslo, partner, Interlegal; Igor Kostov, associate attorney, Interlegal; Mykola Kozachenko, lawyer, Interlegal

Q&A Session 

 

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