DOCUMENTS BY PASS (STRING Sample Clauses

The "Documents by Pass (String)" clause establishes the requirement for certain documents to be provided or exchanged upon the occurrence of a specific event or milestone, often referred to as a "pass." In practice, this could mean that when a particular stage in a project is completed, the responsible party must deliver relevant documents, such as certificates, reports, or approvals, to the other party. This clause ensures that documentation is systematically transferred at key points, promoting transparency and enabling the receiving party to verify compliance or progress before proceeding further.
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DOCUMENTS BY PASS (STRING. In case of resales in string, any party may propose a documents bypass whereby 334 one Seller involved in the string presents documents to any subsequent buyer at an agreed price. 335 A. Such proposal is to be made in good time, preferably prior to commencement of loading of the nominated vessel, 336 and to contain names of sellers and buyers in the string, their individual prices and the suggested settlement of 337 price differentials.
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DOCUMENTS BY PASS (STRING. In case of resales in string, any party may propose a documents bypass whereby one Seller involved in the string presents documents to any subsequent buyer at an agreed price. (A) Such proposal is to be made in good time, preferably prior to commencement of loading of the nominated vessel, and to contain names of sellers and buyers in the string, their individual prices and the suggested settlement of price differentials.
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DOCUMENTS BY PASS (STRING. In case of resales in string, any party may propose a documents bypass whereby 357 one Seller involved in the string presents documents to any subsequent buyer at an agreed price. 358 A. Such proposal is to be made in good time, preferably prior to commencement of loading of the nominated vessel, 359 and to contain names of sellers and buyers in the string, their individual prices and the suggested settlement of 360 price differentials. 361 B. All parties in the string may, at their own absolute discretion, refuse or agree without prejudice to their rights and 362 obligations under their own contract, and the proposal will be declared in force only if all parties in the string have 363 confirmed their agreement, otherwise it will be declared failed. Agreement by each party shall include their express 364 acceptance of the Arbitration Clause and of the Insolvency Clause of GAFTA 64. Either declaration, in force or failed, 365 shall be notified without delay to all parties involved by the party that made the original proposal. 366 C. If such declaration is not received by the time the vessel has started to load, the first seller may withdraw its 367 agreement and present document to its own buyer or, at its option, charge interest at the rate stipulated in this 368 contract for any time lost in presentation of documents. 369 D. When a string proposal is declared in force, each party shall be deemed to have entered into a contract with all 370 other parties in the string (who are also trading on the same terms), including express agreement by all parties to 371 arbitration and to the application of the Insolvency clause. It shall also be deemed to have transferred automatically 372 from the first to the last buyers the obligation to pay for the goods and to cover insurance in accordance with the 373 Insurance clause. Likewise, the acceptance of a string proposal by parties other than the first sellers and the last 374 buyers shall constitute their firm commitment to pay any price differentials and other monies due. 375 E. Should the nominated vessel for a string already in force be substituted, totally or in part, the first seller is under 376 no obligation to commence loading the substitute vessel prior to the receipt of the substitution from its own 377 counterparty. 378 F. Despite agreeing without prejudice to a document bypass proposal, all the parties’ rights and obligations under 379 their individual contracts, save as amended by operation of the agreed...
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Related to DOCUMENTS BY PASS (STRING

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