The Client, large agricultural product trader, filed a request to Interlegal upon filing a lawsuit to the GAFTA arbitration in order to charge payment for goods supply under the DAP commercial contract.
The contract prescribed the goods supply in batches, against advance payment and balance cost payment for actual goods supply.
The Buyer interpreted the contract provisions incorrectly, stating that under the contract it should pay balance cost upon receiving the full contractual amount of goods but should not pay for partial supply.
Due to ineffective negotiations aimed at dispute settlement, the Client applied to Interlegal in order to defend its interests at the GAFTA arbitration.
Interlegal lawyers Dmitriy Chirkin, Anna Averina and Elena Pashkova, under the general supervision of senior lawyer Ekaterina Gadetskaya, initiated GAFTA arbitration proceedings. Following filing the claim with the Client’s justified legal opinion, the Buyer proposed amicable settlement of dispute under the terms, profitable for the Client.