Amendment to Tallow Export Rule #31 in Effect December 1, 2015

Tallow Export Rule 31 Amendment:  

RESOLVED, that the second paragraph of Rule 31 of this Association’s Trading Rules for Animal Tallow and Grease: Export Contract be, and it hereby is, amended to read as follows, effective December 1, 2015.

“Should shipment be delayed by fire, strike, lockout, riot, revolution, prohibition to export or any executive or legislative act done by or on behalf of the government of the territory where the port or ports of shipment or destination named in the contract is or are situated or by any cause generally understood in the industry to constitute force majeure other than those reasons given in the preceding paragraph, then the time of shipment shall be extended by thirty calendar days after the termination of the occasion preventing shipment, but not more than sixty days from the end of the shipping period set forth in the contract.  Should shipment not be possible within those sixty days, the contract shall be cancelled with no liability on the part of either party to the other.

For the purposes of this rule, the term “shipment” shall mean the completion of the loading on the ship of the material which is the subject of the contract.

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