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Tag: shipping contract

  • GAFTA updates standard FOB terms for global rice trade

    GAFTA updates standard FOB terms for global rice trade

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    by

    kanika Neelay
    in ,

    GAFTA Contract defines key FOB terms for international rice trade. The contract outlines shipment, payment, risk, force majeure, and dispute resolution procedures. The Grain and Feed Trade Association (GAFTA) Contract No. 120 is a standard Free on Board (FOB) contract used for international rice trade. Effective from 1 July 2026, the contract establishes the responsibilities…