Interlegal settled successfully the commercial dispute
11 January, 2018
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The Client, large foreign trader, filed a request to Interlegal on application to the GAFTA arbitration on demurrage recovery under the FOB trade contract. Vessel nominated by the Client arrived at the loading port within the delivery period prescribed by the contract, but loading commenced with delay.
For a long period, the Client tried to settle with the Seller the dispute upon demurrage, but the Seller rejected demurrage calculation and lawfulness of its accrual. Due to absence of the counteragent’s constructive approach, the Client decided to apply to arbitration for defending its interests.
Trade contract provides a clause on dispute settlement at the GAFTA arbitration. Interlegal senior lawyer Ekaterina Gadetskaya and junior lawyer Igor Derus initiated arbitration proceeding. At the same time Interlegal lawyers held negotiations with the Seller, stated their legal opinion and justified lawfulness of demurrage accrual. The Seller recognized arguments of the Buyer’s lawyers and paid the debt under the amicable agreement.
