Standard Contracts
CFR FAR EAST OPEN SPECIFICATION FORM NAPHTHA AGREEMENTCFR Far East Open Specification Form Naphtha Agreement • August 7th, 2017
CLAUSE 1 SELLER AND BUYER 4 CLAUSE 2 PRODUCT SPECIFICATIONS AND ORIGIN 4 2.1 (A) Product specification 4 2.1 (B) Excepted Product specification 4 2.1 (C) Additional specification requirements 5 2.2 Product loaded from an Independent Commercial Tank2.3 Cargoes from Independent Commercial Tanks on the Gulf Coast(“USGC Tanks”) of the USA 5 5 2.4 Product from New Refineries 7 2.5 Transhipped cargoes 7 2.6 Excluded cargoes 7 CLAUSE 3 QUANTITY AND QUANTITY ADJUSTMENTS 7 3.1 Quantity 7 3.2 Quantity adjustments 7 CLAUSE 4 PRICE 8 CLAUSE 5 DELIVERY 8 5.1 The Place of Delivery 8 5.2 The Delivery Period 8 5.3 The Terms of Delivery 8 5.4 Multiple port/berth discharge option 8 5.5 Delivery outside Japan or South Korea 8 5.6 Option to change the Delivery Period5.7 Absence of Buyer’s voyage and discharge instructions andnomination of port 8 9 5.8 The International Ship and Port Facility Security Code (ISPS) 9 CLAUSE 6 VESSEL REGULATIONS 9 6.1 Remeasurement of Vessel
