1. Shipment or delivery
The obligation of Seller to ship or deliver the goods specified on the face of this Contract (“Goods”) by the time or within the period specified on the face of this Contract shall be subject to the availability of the vessel or the vessel’s space
If, under the terms of this Contract, Buyer is to secure or arrange for the vessel or vessel’s space, Buyer shall secure or arrange for the necessary vessel or vessel’s space on berth terms basis and give Seller shipping instructions within a reasonable time prior to shipment, including but not limited to the name and detailed schedule of the vessel. If Buyer fails to give such instructions within a reasonable time prior to shipment, Seller may, at its sole discretion and for Buyer’s risk and account, arrange for the vessel’s space and make shipment of the Goods, without prejudice and in addition to any other rights and remedies Seller may have under this Contract or at law or in equity or otherwise.
In case of shipment or delivery in installments, any delay or failure in shipment of one installment shall not be deemed a breach of this Contract giving rise to a right of Buyer to cancel this Contract or refuse to accept performance with respect to other installments.
If payment for the Goods shall be made by a letter of credit, Buyer shall establish in favor of Seller an irrevocable letter of credit through a prime bank of good international repute immediately after the conclusion of this Contract in a form and upon terms satisfactory to Seller.
If Buyer’s failure to make payment, to establish a letter of credit or otherwise to perform its obligations hereunder is reasonably anticipated, Seller may demand that Buyer provide, within a reasonable time, adequate assurance satisfactory to Seller of the due performance of this Contract and may withhold shipment or delivery of the undelivered Goods until such assurance if given
Buyer shall pay the price specified on the face of...