Changes

Case note contributed by Jim Leighton, LLM (Maritime Law), LLB (Hons), BSc (Hons), Solicitor of England & Wales, and International Contributor to DMC’s Case Notes

Gunvor International BV (“Gunvor”) agreed to sell about 17,000 MT of gasoil to United Infrastructure Development Corporation (“UIDC”) on CIF Takoradi terms in April 2010. UIDC purchased the gasoil to meet a sale contract for a similar quantity to Cirrus Oil Services Ltd (“Cirrus”) in March 2010. Both contracts required payment by letter of credit.