BEST ENDEAVOURS TO SEND BUYER TRADE CALCULATIONS PROMPTLY UPON COMPLETION OF PRICING WITH INVOICES TO FOLLOW SOON AFTER
(B) CERTIFICATE OF QUALITY AND/OR THE INDEPENDENT INSPECTOR'S QUALITY REPORT AT THE DISCHARGE PORT (TELEX/FAX ACCEPTABLE).
(C) CERTIFICATE OF QUALITY AND/OR THE INDEPENDENT INSPECTOR'S QUANTITY REPORT AT THE LOADPORT (TELEX/FAX ACCEPTABLE).
(D) 3/3 ORIGINAL BILLS OF LADING ISSUED TO OR ENDORSED TO THE ORDER OF THE BUYER PLUS THE ORIGINAL MASTER'S/AGENTS/VESSEL OWNER'S RECEIPT FOR THE MISSING 1/3 OPRIGINAL BILL OF LADING.
(E) ORIGINAL CERTIFICATE OR ORIGIN
(F) ORIGINAL CERTIFICATE OF INSURANCE
IF ANY OR ALL OF THE DOCUMENTS ARE NOT AVAILABLE AT THE PAYMENT DATE, THE SELLER SHALL PRESENT AND THE BUYER SHALL PAY AGAINST:
A. THE SELLER'S ORIGINAL (TELEX/FAX) COMMERCIAL INVOICE
B. THE SELLER'S (TELEX/FAX)LETTER OF INDEMNITY (TELEX OR FAX ACCEPTABLE) IN THE FOLLOWING FORM:...
...
WITHOUT PREJUDICE TO ANY OF THE SELLER'S OTHER REMEDIES, IF THE SELLER DOES NOT RECEIVE IN FULL PAYMENT INTO ITS NOMINATED BANK ACCOUNT ON THE PAYMENT DATE, THE BUYER SHALL PAY INTEREST ON ANY/ALL OUTSTANDING BALANCES (AT THE ONE WEEK LIBOR RATE AS QUOTED BY THE ROYAL BANK OF SCOTLAND ON THE PAYMENT DATE PLUS 1 PERCENT) UNTIL THE DATE PAYMENT IS RECEIVED INTO SELLER'S NOMINATED BANK ACCOUNT. SUCH INTEREST SHALL ACCRUE AND BECOME DUE ON A DAILY BASIS. THE FOREGOING SHALL NOT BE CONSTRUED BY THE BUYER AS AN INDICATED OF THE SELLER'S WILLINGNESS TO PROVIDE EXTENDED CREDIT AS A MATTER OF COURSE.
THE BUYER SHALL PROVIDE TO THE SELLER SECURITY IN RESPECT OF ITS PAYMENT OBLIGATIONS BY MEANS OF A PAYMENT UNDERTAKING IN THE FOLLOWING FORMAT SENT BY THE BUYER TO THE SELLER'S NOMINATED BANK LATEST 7 CALENDAR DAYS PRIOR TO THE FIRST DAY OF THE ESTIMATED ARRIVAL PERIOD AND TIME SHALL BE OF THE ESSENCE IN THIS RESPECT:...
11. INSPECTION
THE SELLER SHALL APPOINT AND INSTRUCT AN INTERNATIONALLY RECOGNISED INDEPENDENT INSPECTOR TO DETERMINE QUANTITY AT THE LOADPORT AND QUALITY AT THE DISCHARGE PORT IN ACCORDANCE WITH THE DETERMINATION OF QUANTITY AND QUALITY CLAUSE (THE 'INDEPENDENT INSPECTOR').
THE INDEPENDENT INSPECTOR SHALL BE ACCEPTABLE TO BOTH PARTIES, SUCH ACCEPTANCE NOT TO BE UNREASONABLY WITHHELD. ALL INSPECTION COSTS SHALL BE SHARED EQUALLY BETWEEN THE SELLER AND THE BUYER.
12. DETERMINATION OF QUANTITY AND QUALITY
THE INDEPENDENT INSPECTOR SHALL DETERMINE:
(A) THE QUALITY OF THE PRODUCT AT THE DISCHARGE PORT USING THE CUSTOMARY METHODS, PRACTICE AND PROCEDURE AT THE DISCHARGE PORT AND BASED UPON FULLY REPRESENTATIVE COMPOSITE SAMPLES DRAWN FROM THE TANKS OF THE PERFORMING VESSEL;
AND
(B) THE QUANTITY OF THE PRODUCT AT THE LOADPORT USING THE CUMSTOMARY METHODS, PRACTICE AND PROCEDURE AT THE LOADPORT.
SUCH DETERMINATIONS SHALL BE REPORTED ON THE CERTIFICATES OF QUALITY AND QUANTITY RESPECTIVELY, WHICH SHALL BE FINAL AND BINDING ON THE PARTIES FOR ALL PURPOSES SAVE FOR FRAUD OR MANIFEST ERROR.
THE BUYER SHALL SUBMIT TO THE SELLER ANY CLAIM AGAINST THE SELLER REGARDING THE QUALITY OR QUANTITY OF ANY PRODUCTS DELIVERED IN WRITING, TOGETHER WITH SUPPORTING DOCUMENTATION AND REASONABLE DETAILS OF THE FACTS ON WHICH THE CLAIM IS BASED,