CIRCLE. Where a Seller repurchases from its Buyer, or from any subsequent Buyer, the same goods or part thereof, a circle shall be considered to exist as regards the particular goods so repurchased, and the provisions of the Default Clause of FOSFA 53 shall not apply. (For the purpose of this clause, the same goods shall mean goods of the same description, of the same country of origin, same currency, of the same quality and, where applicable, of the same analysis warranty for delivery to the same port(s) of loading during the same period of delivery.)
(A) If the goods are not delivered or, having been delivered, documents are not presented as a result of a circle having been established, invoices based on the mean contract quantity shall be settled between each Buyer and its Seller in the circle by payment by each Buyer to its Seller of the excess of the Seller’s invoice amount over the lowest invoice amount in the circle.
(B) Such settlement shall be due for payment no later than 15 consecutive days after the last day of the Delivery Period or, should the circle not be established before this time expires, then settlement shall be due for payment no later than 7 days after the circle is established. No circle shall be considered to exist if its existence is not established within 45 days after the last day of the contract Delivery Period.
(C) All Sellers and Buyers shall give every assistance to the establishment of the circle and where a circle shall have been established same shall be binding on all parties to the circle. Should any party in the circle commit, prior to the due date for payment, to any act comprehended in the Bankruptcy/Insolvency Clause of FOSFA 53, the invoice amount for the goods calculated at the closing-out price, as provided for in the Bankruptcy/Insolvency Clause, shall be taken as the basis for settlement instead of the lowest invoice amount in the circle, and in this event each Buyer shall make payment to its Seller or each Seller shall make payment to its Buyer the difference between the closing-out price and the contract price, as the case may be.
(D) In the event of a claim under the Force Majeure Clause or Prohibition Clause of FOSFA 53, the date for settlement shall be deferred until the expiry of the extended delivery period. Thereafter, if the contract is cancelled under the terms of the Force Majeure Clause or Prohibition Clause of FOSFA 53, this clause is not applicable.
(E) When a circle is established as provided for in this...
CIRCLE. Where a Seller repurchases from its Buyer, or from any subsequent Buyer, the same goods or part thereof, a circle shall be considered to exist as regards the particular goods so repurchased, and the provisions of the Default Clause of GAFTA 64 shall not apply. (For the purpose of this clause, the same goods shall mean goods of the same description, of the same country of origin, same currency, of the same quality and, where applicable, of the same analysis warranty for delivery to the same port(s) of loading during the same period of delivery.)
(A) If the goods are not delivered or, having been delivered, documents are not presented as a result of a circle having been established, invoices based on the mean contract quantity shall be settled between each Buyer and its Seller in the circle by payment by each Buyer to its Seller of the excess of the Seller’s invoice amount over the lowest invoice amount in the circle. 217218219220221222223224225226227228229230231232233234235236237238239240241242243244245246247248249250251252253254255256257258259260261262263264265266267268269270271272273274275276277278279280281282283284285286287288289290291292293
(B) Such settlement shall be due for payment no later than 15 consecutive days after the last day of the Delivery Period or, should the circle not be established before this time expires, then settlement shall be due for payment no later than 7 days after the circle is established. No circle shall be considered to exist if its existence is not established within 45 days after the last day of the contract Delivery Period.
(C) All Sellers and Buyers shall give every assistance to the establishment of the circle and where a circle shall have been established same shall be binding on all parties to the circle. Should any party in the circle commit, prior to the due date for payment, to any act comprehended in the Bankruptcy/Insolvency Clause of GAFTA 64, the invoice amount for the goods calculated at the closing- out price, as provided for in the Bankruptcy/Insolvency Clause, shall be taken as the basis for settlement instead of the lowest invoice amount in the circle, and in this event each Buyer shall make payment to its Seller or each Seller shall make payment to its Buyer the difference between the closing-out price and the contract price, as the case may be.
(D) In the event of a claim under the Prevention of Delivery Clause of GAFTA 64, the date for settlement shall be deferred until the expiry of the extended deli...
CIRCLE. 19.1. Where Sellers re-purchase from their Buyers or from any subsequent Buyers the same goods or part thereof, a circle shall be considered to exist as regards to the particular goods so re-purchased, and the provisions of GTA Rule 17 [Default] shall not apply. For the purpose of this clause the term ”the same goods” shall be construed as meaning goods of the same description, from the same country of origin, of the same quality, and, where applicable, the same analysis warranty, for delivery or shipment from the same port or ports of origin during the same period of delivery or shipment. Different currencies shall not invalidate the circle.
19.2. All Sellers and Buyers shall give every assistance to ascertain the circle and when a circle shall have been ascertained in accordance with this clause, the same shall be binding on all parties to the circle.
19.3. As between Xxxxxx and Sellers in the circle, the non-presentation of documents by Sellers to their Buyers shall not be considered a breach of contract. Subject to the terms of the GTA Trade Rules, if the goods are not appropriated, or, having been appropriated documents are not presented, settlement by all parties in the circle shall be calculated on the mean contract quantity and shall be settled over the agreed market price on the first day for contractual shipment and invoices shall be settled between each Buyer and his Seller in the circle by payment of the differences between the agreed market price and the relative contract price.
19.4. Payment shall be as per contract terms as if the day for appropriation was on the mean date of the established delivery or shipment period, or, should the circle not be ascertained before the expiry of this time, then payment shall be as if day for appropriation was on the last date of the established delivery or shipment period, but not later than thirty [30] consecutive days after the circle is ascertained.
19.5. Should any party in the circle prior to the due date of payment commit any act comprehended in GTA Trade Rule 17.6 [Default Due To Insolvency], settlement by all parties in the circle shall be calculated at the closing out price as provided for in GTA Trade Rule 17.6 [Default Due To Insolvency] which shall be taken as a basis for settlement. In this event respective Buyers shall make payment to their Sellers or respective Sellers shall make payment to their Buyers of the difference between the closing out price and the contract price.
CIRCLE. Define the center of the circle by left-clicking. Move the mouse until a circle of the desired size is obtained. Left-click there again to determine the area.
CIRCLE. A “Circle” is an organizational construct which (a) is organized around a specific purpose and certain broad Accountabilities given to it by a Super-Circle (its “Scope”);
CIRCLE. The Circle Tool allows for the creation of an oval or circle. Holding down the Shift key on your keyboard while drawing will create a circle, while holding down the Alt key on your keyboard will make the initial cursor point where your image is started as the exact center of your object.
CIRCLE. Where a Seller repurchases from its Buyer, or from any subsequent Buyer, the same goods or part thereof, 331 a circle shall be considered to exist as regards the particular goods so repurchased, and the provisions of the Default 332 Clause of GAFTA 64 shall not apply. (For the purpose of this clause, the same goods shall mean goods of the same 333 description, of the same country of origin, same currency, of the same quality and, where applicable, of the same 334 analysis warranty for delivery to the same port(s) of loading during the same period of delivery.)
335 A. If the goods are not delivered or, having been delivered, documents are not presented as a result of a circle having 336 been established, invoices based on the mean contract quantity shall be settled between each Buyer and its Seller 337 in the circle by payment by each Buyer to its Seller of the excess of the Seller’s invoice amount over the lowest 338 invoice amount in the circle. 339 B. Such settlement shall be due for payment no later than 15 consecutive days after the last day of the Delivery Period 340 or, should the circle not be established before this time expires, then settlement shall be due for payment no later 341 than 7 days after the circle is established. No circle shall be considered to exist if its existence is not established 342 within 45 days after the last day of the contract Delivery Period.
