Quantity Adjustments. (i) Where the Product delivered under this Agreement is a part cargo, the overall losses or gains in transit (as revealed from the discharged quantity) shall be pro-rated amongst the various receivers in proportion to their respective entitlements under their bills of lading and the Buyer shall pay the Seller or the Seller shall pay the Buyer as necessary to effect this arrangement. (ii) In cases where the nominated vessel delivers cargo to two or more receivers (including the Buyer) at more than one discharge berth, and/or more than one discharge port and this involves a discharge at a port outside Japan, the Seller is obliged to appoint a mutually acceptable international independent inspector to ascertain the discharged quantity at all discharge ports and berths and his findings shall be binding on the Seller and all receivers. The inspection costs shall be divided equally between the Seller and the Buyer. (Iii) The Seller and the Buyer shall use their best endeavours to quantify, calculate and settle any quantity adjustments promptly.
Appears in 1 contract
Sources: Naphtha Agreement
Quantity Adjustments. (i) Where the Product delivered under this Agreement is a part cargo, the overall losses or gains in transit (as revealed from the discharged quantity) shall be pro-rated amongst the various receivers in proportion to their respective entitlements under their bills of lading and the Buyer shall pay the Seller or the Seller shall pay the Buyer as necessary to effect this arrangement.
(ii) In cases where the nominated vessel delivers cargo to two or more receivers (including the Buyer) at more than one discharge berth, and/or more than one discharge port and this involves a discharge at a port outside Japan, the Seller is obliged to appoint a mutually acceptable international independent inspector to ascertain the discharged quantity at all discharge ports and berths and his findings shall be binding on the Seller and all receivers. The inspection costs shall be divided equally between the Seller and the Buyer.
(Iii) The Seller and the Buyer shall use their best endeavours to quantify, calculate and settle any quantity adjustments promptly.
Appears in 1 contract
Sources: Open Specification Naphtha Contract