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Surprise: claims for unpaid bunkers under bunker supply contracts are straightforward claims in debt where the passing of property is not required...
Also: be specific in tripartite agreements; the right to rely on refund guarantees; and more.
GAFTA default clause and assessment of damages: Supreme Court hands sellers a golden victory download
The Supreme Court has recently ruled that the buyers under a sale contract on GAFTA 49 terms could only recover nominal damages for the sellers’ wrongful cancellation of the contract.
Claimants with contractual claims against a Korean ship operator can go through London courts.
A Dutch ship operating company, SBV, brought claims against a Chinese bank, BOC, for payment under two refund guarantees governed by English law.
The Admiralty Court has reaffirmed the test for deciding whether to grant a time extension.
A tripartite agreement reached between the owners, the shippers and the receivers provided that demurrage be paid to the owners in the event that the owners were found not liable for cargo contamination by an arbitration tribunal.
The Commercial Court has recently ruled on preliminary issues in a cargo claim. The Court held that the ultimate buyer at the bottom of the chain of contracts had obtained good title to the cargo as a good faith purchaser for value.
Contracts often give you free rein to take a decision about something. Braganza looks again at how you decide what is reasonable. The ruling of the Supreme Court indicates a tougher attitude.
The English Commercial Court has confirmed that, when assessing damages for breach of contract, credit must be given for any monetary benefit, whether chosen or not, which a claimant has received, or will receive, as a result of taking reasonable steps to mitigate its loss.