Common use of Laycan Clause in Contracts

Laycan. Buyer shall give written notice to Seller of the proposed 15 (fifteen) day laycan for each shipment at least 10 (ten) calendar days prior to the first day of the laycan. Seller shall confirm the proposed laycan within 2 (two) Business Days, otherwise Seller shall be deemed to have accepted such proposed laycan. Buyer shall nominate the vessel 5 (five) calendar days prior to the vessel’s Estimated Time of Arrival (“ETA”) at the load port. Buyer shall notify the Seller of the following details in writing:

Appears in 2 contracts

Sources: Purchase Contract (Iron Mining Group, Inc.), Purchase Contract (Iron Mining Group, Inc.)