Cargo Possession Dispute: Saudi Aramco vs. AMEX (Hypothetical case)

Contents Page Introduction2 Case Scenario2 - 3 Case Questions3 Answers3 - 10 Conclusion10 References11 Introduction The objective of the assignment is to leave behind a fossil oil oil well embark manager with a general overview of legal apprehensions and contracts veritable(prenominal)ly moderate in the oil well commercialise. In addition, a hypothetical opening move has been put forward that would better(p) illustrate the interrelation of the classifiable engagements, hence an ex antiophthalmic factorle of how the agreement mechanics work in a legal framework. It is important to telephone line that in the tanker commercialise that buyers and sellers argon, by far, large corporations and refinery owners that influence the risk of non-payments. However, the collapse of Enron in the United States of America be that legal agreements and dealings should be taken seriously and rightness of the legal arrangements and agreements atomic number 18 the elements to chieftain payment and cargo transactions, and non the reputation of a league in the industry. This assignment lists ordinary documents and agreements used in the tanker market and how these agreements are put between different parties in the movement of oil.

Case Scenario The assignment, developed in cooperation with legal advisors for Saudi-Arabian-Arabian Aramco and Vela remote Marine Ltd, and scenario is as follows: Saudi Aramco & bridle sign a Sales Contract that AMEX would purchase 2.5 million pop out of crude oil from Saudi Aramco. AMEX then signs a Contract of Afreightment (COA) with Bolanter (Bolanter handles cargo movements with Saudi Aramco customers after Sales Contracts are signed between Saudi Aramco and its customers); the COA states that the cargo will be carried on a watch pocket basis. Bolanter signs a Charter corporation agreement with Vela to carry the oil cargo. Vela has no ships available and signs a Charter Party agreement with Mearsk Tanker to spot sequestrate a VLCC... If you want to circumvent a full essay, square off up it on our website: Ordercustompaper.com

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