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Course Level
Intermediate
Delivery Method
Classroom Instructor-Led Course
Professional Development Credit Hours
32
Pre-requisites
Recommended: International Oil Supply, Transportation, Refining and Trading, or equivalent knowledge.

"All of the lectures were of a very high standard. They clarified particular points and explained issues in every day terms." Morgan Stanley


Faculty

Dr. Ian Holdaway is a consultant to the downstream oil industry and has provided expert opinion on more than 70 disputes involving the International Trading and Supply of crudes oil and petroleum products and the planning and economics of refinery operations. Dr Holdaway currently acts a consultant to Minton Treharne & Davies Co Ltd. After graduating with a PhD in industrial chemistry, Dr Holdaway joined Esso working in Research, Marketing and Corporate Planning before transferring to Refining, where he was responsible for Refinery Operations Planning and subsequently Supply Logistics After 11 years he joined J Aron, the commodity trading division of Goldman Sachs, where, as Trading Operations Director, he was responsible for all aspects of J Aron's International Trading Operations within the European and Far Eastern Offices markets.


Accreditations

NASBA: Mennta Energy Solutions is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org

CPD Certification Services: The CPD Certification Service works with Mennta Energy Solutions to ensure valuable knowledge is structured to complement the universal guidelines of Continuing Professional Development. Mennta Energy Solutions courses are approved by CPD at one credit per training hour.

BAC: Mennta Energy Solutions is pleased to be endorsed by the BAC for Independent Further Education as a Short Course Provider. Endorsement covers courses delivered in the UK only.

GARP: Mennta Energy Solutions is registered with GARP as an Approved Provider of Continuing Professional Development (CPD) credits.

International Oil Trading: Approach to the Legal Issues for Management of Claims and Disputes (CLASSROOM) - TRL


Course Schedule

Date Time Location Price* Registration Deadline**

*Prices do not include VAT, GST, or any other local taxes. All applicable taxes will be added to the invoice.
**Please register by the deadline to help us ensure sufficient attendance and avoid postponing the course.


Course Summary

This course covers areas of dispute that may arise in the performance of international shipping and trading contracts. Using a mixture of current practice supported by legal interpretation and precedent, delegates will learn to avoid many of the pitfalls that may occur. Real case studies and exercises will provide hands-on experience to enable delegates to draft, interpret and operate oil trading contracts to minimise the risk of dispute. An on-going case study will simulate events taking place in an arbitration.

What you will learn

  • How to draft and interpret an oil contract and charter party terms
  • How to review and amend documents and letters of credit and documents
  • How to understand the responsibilities involved in contract performance/nomination
  • How to identify and react to a breach of contract
  • How to assess and present quantity and quality claims
  • How to assess and present demurrage claims
  • How insurance is affected ? the need to mitigate
  • How to manage and successfully resolve disputes

Who Should Attend?

In-house lawyers, trading, operations and chartering managers, personnel involved with administration of contracts and letters of credit, personnel involved in the handling of demurrage, quantity and quality claims, insurance personnel and experienced operational personnel.


Course Content

Contracts

  • The process of entering into a contract
  • Verbal and written agreement
  • Confirmation process and written agreement
  • Contract structure and terms
  • General terms and conditions
  • The Vienna Convention vs UK Sale of Goods Act

Quantity and Quality

  • Methodology - internal standards vs terminal practice
  • Description of the oil
  • Specifications and test methods
  • The obligations of the inspector
  • "Final and Binding"
  • Reproducibility vs. repeatability

Nomination

  • The "Nominations Procedure"
  • Substitution
  • Failure to nominate
  • Frustration and remedies
  • Documentary instructions

Documents

  • The purpose of the Bill of Lading
  • Rights of the Bill of Lading holder/right to sue
  • Tanker, ocean, charter party Bills of Lading
  • Clean, dirty, clausing, Note of Protest and markings
  • Shipper, consignee, endorsement, "to the order"
  • Accomplishment
  • The role of the LOI
  • The rights and obligations, bank co-signature

Letters of Credit

  • Types of credit, documentary and standby
  • Role of the banks opening, confirming and advising
  • Obligations, rights of the bank
  • UPC5000
  • Doctrine of Strict Compliance
  • Stale Bills of Lading
  • Presentation and expiration

Breach of Contract

  • Frustration
  • Repudiation/cancellation
  • Force Majeure

Shipping

  • ISPS code and practice
  • Safe port / safe berth provisions

The Charter Party

  • The process of chartering
  • Chart party terms and standard C/Ps
  • The obligations of the charterer and the owner/master
  • Special clauses
  • Carriage of Goods at Sea Act
  • Hamburg and Hague-Visby Rules
  • General average and implications
  • Remedies for non performance, "Freight is Sacrosanct"
  • Pollution and OPA

Insurance, Claims and Damages

  • P&I Clubs
  • Bulk oil clauses
  • Underwriters
  • Claims
  • Inherent vice
  • The assessment of damages
  • Consequential or remote damages
  • The obligation to mitigate
  • Tort

Dispute resolution

  • ADR
  • Arbitration
  • Litigation
  • Jurisdiction
  • Costs/appeal

Preparation of Operations of Storage Contracts  

Case Studies and Exercises Include

  • Contract negotiation
  • Disputes over quantity and quality
  • Nomination issues
  • Damaged bills of lading
  • Letters of credit acceptability
  • Breach of contract
  • Charter parties
  • Demurrage

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