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Contract Details

All contracts concluded through Amberwood Trading Ltd are closed under CENTA (Combined Edible Nut Trade Association) of London or AFI terms and conditions. Unfortunately, while the AFI covers all aspects of quality in considerable detail they do not have specific contractual terms and conditions for Cashew and Brazil Nut contracts.
The "contractual terms" referred to here are in respect of the Buyer and Seller's contractual obligations, in respect of all aspects of the fulfilment of the contract. This includes, but is not limited to:
- When the Buyer should open the Letter of Credit
- How soon after shipment should the Seller tender his shipping declaration
- What happens if the documents arrive after the vessel
- What the meaning of the words "PROMPT", "IMMEDIATE" are in respect of shipment periods.
- etc.
In the event that a dispute arises between the Buyers and Sellers, the matter is generally submitted to arbitration if they are unable to come to a mutual agreement. In the case of CENTA, or any of the other European Trade bodies, arbitrations are relatively simple to process, since the arbitrators follow the rules expressly laid out in the contract. Arbitration in the USA is a more complex business, since great value is given to "custom of the trade" and the results are far more dependent on the discretion of the individual arbitrators.
It should be noted that the arbitration fees are considerably cheaper if you are a member of the respective Trade Organisation.

Contracts issued by Amberwood Trading Ltd will always have the wording "All other terms and conditions as per the respective trade organisation" as the last clause of the contract. It is therefore incumbent on the Buyers and Sellers to make themselves aware of the specific general contract terms before entering into any contract.
CENTA terms and conditions are available on payment of a small fee from the association at:

Combined Edible Nut Trade Association,
Couch, Chapman and Company
62 Wilson Street
London
EC2A 2BU
United Kingdom
and the AFI terms and conditions are available from:

Association of Food Industries
177 Main Street
P.O. Box 776
Matawan
NJ 07747
USA

As each contract is concluded, the Buyers and Sellers must agree any specific contract conditions. The terms of an offer consist of the following parts:
- Grade (type of product, i.e. Brazilian cashews W1 320
- Quantity (number of cartons)
- Price
- Shipment terms
- Payment terms
Prior to closing the deal the Buyers and Sellers have the right to refuse their counter party's name. However, once Amberwood Trading Ltd's contract has been issued, such contract is legally binding on both parties. Contracts concluded under CENTA are binding under the jurisprudence of the English Courts, and contracts concluded under AFI under the jurisprudence of the US Courts (specifically allowing for arbitration and legal action in the New York courts).