Article 23. Notice of shipment:

a) On completion of loading, the Seller shall serve the Buyer a formal Notice of Loading within 72 hours of such completion and by means of a e-mail providing one copy of the shipping advice including the vessel’s name and other identification and registration particulars; B/L number and date; B/L weight; the Contract number and Transaction Code, name of commodity; invoice value; ETA port of the discharge.

b) After giving Notice of Loading, Seller shall e-mail to the Buyer a copy of the complete set of documents covering the shipment no later than three (3) working days after giving such Notice and shall in any event send a set of the said documents to the Buyer by DHL or similar courier service within the next four (4) working days after shipment.

ARTICLE 24. ADVICE OF ETA:

The Seller or the Vessel’s Master shall give notice of the vessel’s expected time of arrival (“ETA”) by fax to the Buyer, 5 days, 72 hours, and 24 hours respectively before ETA at the discharging port.

ARTICLE 25. INSURANCE:

a) The Buyer shall be responsible for effecting insurance cover on the goods whilst in transit.

b) In the event Buyer shall bear the expenses of procure the issue of a policy with a first class Insurance Institute to cover one hundred and ten percent (110%) of the value of the cargo. The insurance policy will cover all risks or loss or damages to the said cargo, including war, hijacking, explosion, etc, from the moment the cargo has passed the ship's manifold flanges at the loading port.

c) Marine insurance shall be required to cover all risks of loss or damage to the said cargo, including war, hijacking, explosion, etc. until discharge of the cargo commences at the discharge port.

ARTICLE 26. SHIPMENT:

Shipment of goods must be completed under this contract and Trans-shipment should not be permitted, unless both parties agreed in the course of shipment processes in this contract.

ARTICLE 27. PARTIAL SHIPMENT :

shall be permitted under this agreement subject to full notice of intention to proceed by such means being given by the Seller to the Buyer with explanation should this ever be necessary for Partial shipments to be allowed.

ARTICLE 28. NOMINATION OF THE CARRYING VESSEL:

a) The carrying loose bulk vessels being seaworthy and in good technical condition or any other approved vessel.

b) In the event, overage premium, if any, shall be for the account of Seller.

c) Prior to shipment, the Seller shall give full Notice of the Particulars of the Carrying Vessel to the Buyer by e-mail or fax and such detailed particulars shall include its name, nationality, age, LOA, beam, laden draft, the number of hatches, expected date of loading, contract number and the quantity to be loaded, copy of the registration details of the vessel.

d) The Buyer shall acknowledge receipt of the Notice of the Particulars of the Vessel within 48 hours after receipt of the Seller’s Notice and nomination. In the event that the Buyer does not respond with a Notice giving details of objections to the vessel nomination within 48 hours after receipt of the Seller’s Notice and nomination, the vessel shall be deemed to be acceptable to the Buyer for the purposes of the execution of shipment required under this contract.

ARTICLE 29. TITLE AND RISK:

a) Title with respect to each specific shipment shall pass from the Seller to Buyer upon Sellers bankers’ receipt of the full payment transfer due against the specific payment.

b) All risks with respect to a shipment shall pass to the Buyer at the place of loading port and at the time of loading of Goods from the loading devices into the Vessel.

ARTICLE 30. FORCE MAJEURE:

a) The current standard International Chamber of Commerce (ICC) terms on force majeure shall apply to this contract and the Force Majeure Clauses of the ICC shall be deemed to be incorporated in this contract

b) Neither Party shall be held responsible for the settlement of loss or damage arising through the failure of performance of obligations under this Contract.

c) In the event of the occurrence of an event amounting to force majeure and being one affecting the execution of obligations under this contract notice of such event together with a certificate confirming the same and issued by the government authorities or local chamber of Commerce of the Party concerned shall be deemed to adequate evidence of the event.

d) In the event of the occurrence of an event properly defined as amounting to force majeure such notice of the same shall be deemed to be adequately served if given immediately by facsimile/email and by delivery to the Seller/Buyer by registered mail, and/or courier service,

e) Should the delay caused by a force majeure event last for more than 1 (one) month, the Parties shall fully attempt to agree measures to allow Contract to continue. Should such an agreement not be reached within 30 (thirty) days from the date of the certified force majeure event, the Parties are entitled to terminate the Contract.

f) A force majeure event does not exonerate the Buyer from paying for any goods already delivered under the contract.