NIOP TRADING RULES Effective July 2013 Minor changes and corrections (approved by the NIOP Technical Committee) have been included as of July 29, 2013 APPLICATION OF RULES INCORPORATION OF THESE RULES OR ANY PORTION THEREOF IS NOT MANDATORY BUT IS OPTIONAL BETWEEN PARTIES TO CONTRACTS. Published by the National Institute of Oilseed Products 750 National Press Building, 529 14th St NW Washington, D.C. 20045 TEL: (202) 591-2438 FAX: (202) 591-2445 e-mail:
[email protected] Internet: www.niop.org ©2013 by the National Institute of Oilseed Products NIOP TRADING RULES TABLE OF CONTENTS CHAPTER 1 - TYPES OF SALES RULE 1.1 TRADE PRACTICE 1 -1 1.2 PLACE OF CONTRACT 1 -1 1.3 C.I.F. (COST, INSURANCE AND FREIGHT) 1 -1 LISTING OF DOCUMENTS 1 -2 1.4 C.& F. (COST AND FREIGHT) 1 -3 1.5 F.O.B. VESSEL (FREE ON BOARD VESSEL) 1 -3 1.6 F.A.S. VESSEL (FREE ALONGSIDE) -NAMED PORT OF SHIPMENT 1 -5 1.7 EX DOCK (NAMED PORT OF IMPORTATION) 1 -6 1.8 EX WAREHOUSE 1 -7 1.9 MISCELLANEOUS TYPES OF SALES 1 -7 1.10 VESSEL CLASSIFICATION 1 -7 1.11 PUBLIC HEALTH SECURITY AND BIOTERRORISM PREPAREDNESS 1 -7 CHAPTER 2 - SHIPMENT RULE 2.1 TIME 2 -1 2.2 DAYS OR HOURS 2 -1 2.3 NOTICE 2 -1 2.4 TENDERS 2 -1 2.5 EXTENSION OF SHIPMENT 2 -1 2.6 PROOF OF ORIGIN 2 -3 2.7 TRANSHIPMENT 2 -3 2.8 SHIPPING INSTRUCTIONS 2 -3 2.9 VESSEL NOMINATION AND DECLARATION OF DESTINATION 2 -3 2.10 BILL OF LADING-EVIDENCE OF DATE OF SHIPMENT 2 -3 CHAPTER 3 - TANK CARS, TRUCKS, BARGES AND CONTAINERS RULE 3.1 DATE OF SHIPMENT 3 -1 3.2 TIME OF SHIPMENT 3 -1 3.3 SPREAD (SCATTERED) DELIVERIES OF SHIPMENTS 3 -1 3.4 F.O.B.