Shrinkage, Dust & Outturn Entitlement. (a) The Client acknowledges and agrees that Bulk Wheat will always suffer Shrinkage and loss from Dust. (b) The Company is entitled to deduct from the Client’s Bulk Wheat a percentage of wheat on account of Shrinkage and Dust. The net quantity of the Client’s Bulk wheat remaining after such deductions is called the Client’s Outturn Entitlement (“Outturn Entitlement”). (c) The quantum and method of calculation of the deductions for Shrinkage and Dust is specified in the Reference Prices. (d) The Company will own and be at liberty to sell or otherwise deal in the quantity of wheat deducted from the Client’s Bulk Wheat for Shrinkage and Dust at any time following receival of the wheat at a Port Terminal.
Appears in 4 contracts
Samples: Port Terminal Services Agreement, Port Terminal Services Agreement, Port Terminal Services Agreement
