TERMS OF DELIVERY
Terms of Shipment;
For CFR Terms: The Sellers shall ship the goods within the time as stipulated in Clause (9) of this Contract by a direct vessel sailing from the port of loading to China Port. Transhipment enroute is not allowed without the Buyers' consent.The goods should not be carried by vessels flying of the countries not acceptable to the Buyers.
For FOB Terms:
The shipping space for the contracted goods shall be booked by the Buyers or the Buyers'shipping agent,China National Chartering Corporation (Address: Er LiGou Beijing Cable Address:ZHOUGZU PEKING).The Sellers shall undertake to load the contracted goods on board the vessel nominated by the Buyers on any date notified by the Buyers, within the time of shipment stipulated in the Clause (9) of this Contract.
10—15 days prior to the date of shipment,the Buyers shall inform the Sellers by cable if the contract number,name of vessel, ETA of vessel, quantity to be loaded and the name of shipping agent, so as to enable the latter to contact the shipping agent directly and arrange the shipment of the goods. The Sellers shall cable in time the Buyers of the result thereof. Should,for certain reasons,it become necessary for the Buyers to replace the named vessel with another one, or should the named vessel arrive at the port of shipment earlier or later than the date of arrival as previously notified to the Sellers, the Buyers or their shipping agent shall advise the Sellers to this effect in due time. The Sellers shall also keep close contact with the agent of Zhougzu.
Should the Sellers fail to load the goods,within the time as notified by the Buyers, on board the vessel booked by the Buyers after its arrival at the port of shipment, all expenses such as dead freight, demurrage, etc.,and consequences thereof shall be borne by the Sellers. Should the vessel be withdraw or replaced or delayed eventually or the cargo be shut out,etc.,and the Sellers be not informed in good time to stop delivery of the cargo, the calculation of the loss for storage expenses and insurance premium thus sustained at the loading port should be based on the loading date notified by the agent to the Sellers(or based on the date of the arrival of the cargo at the loading port in case port in case the cargo should arrive there later than the notified loading date).The abo