Broking terms often appear in charterparty recaps, sometimes these short phrases or sets of letters have vital importance in our client's matters, determining the transfer of certain liabilities between parties. 

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Naturally this has caused great commercial uncertainty, and those associations dealing with agricultural products, such as Gafta and Fosfa may be particularly concerned with how UK’s exit from the EU will affect the production and import/export of agricultural commodities to and from the UK.

From 1st September 2016 the new version of the Gafta 125 Rules of Arbitration takes effect in all sale contracts referencing or incorporating the rules. The changes, having been drawn up by a committee representing the trade, highlight the benefits of a trade organisation which draws on the practical experience of its members.