Any remedy available to a buyer of oil against a Russian seller?
Posted in the Banking Forum
Since: Oct 13
#1 Oct 3, 2013
We are an established trade & finance house with a global clientele
that includes governments, oil refineries, airlines, oil trading companies, majors, resellers, high net worth individuals, etc.
We are currently working with a few Russian oil refineries through their mandates who have received our buyer-signed Draft contracts and are now required to provide notarized contracts along with partial POP documents & NCNDAs/IMFPAs in order for the buyers to ask their banks to issue MT103/23 as payment instrument. However, despite five weeks the sellers are not moving forward by providing the long overdue documents.
Is there any remedy, legal or otherwise, available to us and our
#2 Oct 3, 2013
Dear Sabeehk, Did you put penalty caluse in the contract if either party fails to perform then they have to pay the some percentage as PBG, PERFORMANCE BANG GURANTEE. IF YOU DIDNT PUT THIS CONDITIOIN THEN IT IS USELESS TO MOVE INTERNAIOANL COURT TO CLAIM PENALTY.
THAT IS FOR MONETARY PURPOSE BUT YOU CAN PUT THAT SUPPLIER NAME IN THE BLACK LIST OF INTERNATIONAL COMMUNITY.
Add your comments below
|Trump And Family Committed A Fraudulent Crime T...||14 min||Ghost Cheever||7|
|Don't Be Liars Trying To Cheat and Fool Locals ...||9 hr||David Cheever||2|
|When Fools Live In Expensive Neighborhood, They...||9 hr||David Cheever||2|
|The All-Out Trade Will Place US As The Second P...||Tue||New World Order||1|
|Kim Of N. Korea Will Visit Beijing Today, The T...||Mon||What Summit||1|
|Watch Out, The All-Out Trade War Announced By D...||Mon||Trade War||1|
|The Recession Is Coming... It Will Be The Worst...||Mon||Recession||1|
Find what you want!
Search Banking Forum Now
Copyright © 2018 Topix LLC