On October, 13, Interlegal held a practical training course “All about GAFTA/FOSFA Contracts and Charter Parties: 5-in-1” at the Gagarinn Hotel (Odessa). At the training course, Interlegal lawyers and invited foreign experts shared with participants their practical skills in five industries: GAFTA/FOSFA Contracts, Freight and Logistics, Ports and Terminals, Insurance and Offshore Companies in Trade Schemes.
Special guest was Richard Faint (the United Kingdom) – GAFTA, FOSFA, LCIA arbitrator, the International Arbitration Chamberof Paris member and the London Maritime Arbitrators Association (LMAA) associated member.
Richard Faint provided training course based on case study from legal practice where he highlighted basic rules of concluding contracts and shared his recommendations upon applying best practices of the English law.
The British expert also highlighted basic innovations in GAFTA contract proformas reviewed by the Grain and Feed Trade Association in September 2017.
The Latvian guest Andrejs Radionovs, Director of Marine Insurance Services, Interlegal partners and lawyers Natalya Myroshnychenko, Artem Skorobogatov, Karyna Gorovaya, Alexey Remeslo, Andrey Perepelitsa, Ekaterina Gadetskaya and Viktoria Ruseva performed other important parts of training.
At the training course, participants gained knowledge in freedom of contracts, discussed the principles of concluding contracts, types and essence of certain clauses, types and effects of contract breach.
Experts studied in details, from the practical aspect, GAFTA, FOSFA, LCIA, LMAA arbitration procedures, peculiarities of sea carriage contracts – bills of lading and charter parties.
Themes included the following: chartering, calculation of demurrage and other payments, cooperation of port activity players, cargo and carrier’s liability insurance, de-offshoring, sharing tax information and reveal of corporation beneficiaries.
Interlegal expresses gratitude to participants for fruitful cooperation and believes that the gained knowledge will strengthen position of their companies in international trade.