Common use of Cargo Confirmation Clause in Contracts

Cargo Confirmation. Whether a Cargo is purchased under the Execution Method or the Supply Point Method above, Seller shall promptly complete and communicate to Buyer a notice in the format set forth in Appendix 10 (a “Cargo Confirmation Notice”) after a Cargo has been purchased. At any point where a transaction relevant to that Cargo is agreed to between the Parties thereafter, the Cargo Confirmation Notice and / or relevant Cargo Table (Appendix 15) shall be updated accordingly. For example, if a freight cost is negotiated and established at a time after the Cargo was purchased under the Execution Method, that freight cost shall be added to the Cargo Table. If there is a material change to the original deal, such as a change in delivery method, then the Cargo Confirmation Notice shall be updated. This process shall continue until the entire price of the Cargo is built up and fully agreed and finalized.

Cargo Confirmation. Whether a Cargo is purchased under the Execution Method or the Supply Point Method above, Seller shall promptly complete and communicate to Buyer a notice in the format set forth in Appendix 10 (a “Cargo Confirmation Notice”) after a Cargo has been purchased. At any point where a transaction relevant to that Cargo is agreed to between the Parties thereafter, the Cargo Confirmation Notice and / or relevant Cargo Table (Appendix 15) shall be updated accordingly. For example, if a freight cost is negotiated and established at a time after the Cargo was purchased under the Execution Method, that freight cost shall be added to the Cargo Table. If there is a material change to the original deal, such as a change in delivery method, then the Cargo Confirmation Notice shall be updatedNotice. This process shall continue until the entire price of the Cargo is built up and fully agreed and finalized.