Griffon Shipping LLC (the “Sellers”) v Firodi Shipping Limied (the “Buyers”)
This was an appeal from an arbitration award pursuant to section 69 of the Arbitration Act 1996. The case concerned a Memorandum of Agreement (the “MOA”) dated 1 May 2010, concluded upon the Norwegian Saleform 1993 (“NSF 1993”). According to clause 2 of the MOA, a deposit of 10% was payable within three banking days…
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