58
Seilers to cover rlsk of fire (to the extent of Contract value only) to the
prompt day or day of payment, or delivery of Warrants, or Order for delivery,
whichever may first happen, and in the event of non-delivery by loss by fire after
tender, the Contract to be void for the quantity so lost.
The Cloves must be sampled at the time of first tender by the first sellers,
and sealcd samples sent to the first selling brokers. When arbitration has been
held on any parcel, the original sample, re-sealed by Arbitrators, may be tendered
as long as the award holds good.
Arbitration must be held on each 100 bales, and awards to hold good for
one year, the fees being paid by the first sellers, and to be £1 1 s. for 100 bales,
and 10s. 6d. for each further 100 bales of same Contract. Arbitrators to be
appointed by first sellers and last buyers within 10 days from the date of first
tender, last buyers to communicate direct with first sellers.
Awards to be given in triplicate, and a copy to be handed by the arbi-
trators to the Secretary of The General Produce Brokers’ Association, to
be registered by him for reference.
Prompt three months from date of original tender. A pile of 20 bales or
less may be placed on one warrant and Weight-Note. Deposit £‘20 per Cent,
and/or less difference, payable on presentation of Weight-Notes, which are to
be issued within twenty-one days from date of first tender, and to be issued by
original seller not later than Tuesday at 12 o'clock, and by any subsequent seller
with due despatcb, but not later than 12 o’clock Friday. Interest to be allowed
at the rate of 5 per cent. per annum to the prompt on all pre-payments. Rent
for seller’s account to the prompt day, if incurred, and to be written up on face
of all Warrants. No Weight-Notes to be tenderable unless rent has been paid
up to the date of tender.
Any dispute arising out of this Contract to be settled by arbitration in
accordance with the Rules of The Generat. Produce Brokers’ Association
of London.
Brokerage per cent.
Brokers.
