Another proceedings at the GAFTA arbitration, in which AGA Partners Law Firm represented interests of the Client's company, have successfully ended.

According to the Senior lawyer of the company, Ivan Kasynyuk, who participated in the arbitration proceedings: "This dispute was the traditional and very widespread regarding execution of FOB contracts. Client's company being the buyer, performed all necessary actions for the fulfillment of its obligations, including providing vessel for the loading. However, company-seller refused to execute the contract refering to the force-majeure clause in connection with the drought in the state of the commodities origin, namely in Russia in the last year».

Notwithstanding mentioned circumstances lawyers of AGA Partners successfully represented the Client's company interests, receiving the GAFTA award in the amount of 261.000 USD, calculated upon the difference between the contractual price and alternate purchase price.