Commodities
We provide an unparalleled insight into the law of commodities trade. Whether you work with energy, metals and mining or agriculture, we offer access to best practices relied upon by household names in the marketSupporting spot deals, building from ground up a new trading operation or helping busy in-house teams through retainer arrangements – please rest assured we have the relevant experience and product in place
Our team lives with the commodities market and shines when working in fast-paced, high stress environment. We have extensive experience covering a multitude of scenarios – from urgent off-takes to complex miner restructurings – and are ready to deal with most challenging circumstances
All commodities
We advise on all types of commodity, energy, mining & metals and agriculture
We advise on all types of commodity, energy, mining & metals and agriculture
Awareness
We need no introduction to the business: AHK, GAFTA 124, 3/3 OBL, QP, NoR, SSHEXUU, WSMD – these (and many others) are part of our native language
We need no introduction to the business: AHK, GAFTA 124, 3/3 OBL, QP, NoR, SSHEXUU, WSMD – these (and many others) are part of our native language
Geography
We cover Africa, the Americas, Asia, Australia, the CIS and, of course, Europe
We cover Africa, the Americas, Asia, Australia, the CIS and, of course, Europe
Ready for challenges
Difficult negotiation? Unorthodox deal structure? Non-performing supplier? Force-majeure? We are well prepared to advise in each event
Difficult negotiation? Unorthodox deal structure? Non-performing supplier? Force-majeure? We are well prepared to advise in each event
Services
01
Energy, metals and softs
01
Energy, metals and softs
We cover crude oil, petroleum products, coal, base and precious metals, grains, seeds and oils
02
Commercial agreements
02
Commercial agreements
Off-takes, consignment, distribution and marketing agreements – each commercial arrangement for the flow of commodities has its place, its advantages and shortcomings. We can help chose the right structure and implement it
03
CIF, FOB andother Incoterms
03
CIF, FOB andother Incoterms basis
A common occurrence is where the Incoterm first considered turns out not to fit well with the transaction. The resulting upset – should a dispute arise – could be quite significant. In addition, sellers and buyers may not quite expect the terms implied at law into fob and cif contracts
04
Storage and throughput agreements
04
Storage and throughput agreements
Are scheduling obligations clearly set out? Must the terminal accept your vessel on time? Is the storage operator liable for any resulting demurrage or idle time? Are loss and shrinkage ratios acceptable? A well negotiating agreement can make all the difference between a trade being a horribilis casus and a transaction with a steady profit
05
Force Majeure
05
Force Majeure
Often misunderstood and neglected, force majeure clauses have recently received much prominence due to pandemic or armed conflict. And almost equally as often such clauses failed to meet parties’ expectations. Our view: force majeure sections are almost always worth the attention
06
Shipping, logistics and demurrage
06
Shipping, logistics and demurrage
Disputes and claims in the logistics chain arise far more frequently than in any other area of the commodities trade. Having sound arrangements as to carrier’s, shipper’s and receiver’s rights, obligations and liabilities is paramount to a successful trading operation
07
Import and Export
07
Import and Export
Robust import and export operations can be critical. Does your shipment fall within a quota? Is your customs broker liable for non-compliant declaration? Must final assays be presented within 60 days to the customs? Is the exporter liable for failure to obtain a licence?
08
Bills of lading and holding certificates
08
Bills of lading and holding certificates
Documents of title play a vital role in international trade. Is a bill of lading with a master’s notation acceptable under a letter of credit? Does a holding certificate provide the buyer with any real comfort? Can a carrier rely on charterparty terms as defence against a receiver? We will can guide clients through these complex matters
09
GAFTA, FOSFA, SCoTA and other industry templates
09
GAFTA, FOSFA, SCoTA and other
There is no doubt that industry templates are beneficial for the market; however, they are rarely suitable for significant trades and often need adapting or must work in conjunction with bespoke contracts.