1 March 2022: Gafta announce change to Gafta Arbitration Rules Nos. 125 and 126.

“Gafta Arbitration Rules Changes 1 March 2022

Following careful consideration at Gafta’s International Contracts Committee, Gafta Council has approved the following changes to Gafta 125 and 126 Rules. The changes will become effective for contracts entered into on or after 1 March 2022. The new Rules can be found on Gafta’s website.

Gafta 125 Rules – Notices Clause:

The Notices clause in Gafta 125 Rules was amended to reflect the changes made to the Notice Clause in Gafta contracts from 01 January 2022 to read as follows:

“21.1 Service on parties

All notices to be served on the parties pursuant to these Rules shall be in legible form by E-mail, or by other mutually recognised electronic method of rapid communication. For the purposes of time limits, the date of despatch shall, unless otherwise stated, be deemed to be the date of service.

Service on the brokers or agents named in the contract shall be deemed proper service under these Rules. So far as concerns such notices, this Rule over-rides any other provisions of the contract.

21.2  Service on Tribunals and Boards of Appeal

Unless the tribunal or board of appeal otherwise directs, all notices, proceedings and documents to be served on arbitrators and members of a board of appeal pursuant to these Rules shall be served in legible form by E-mail, or by other mutually recognised electronic method of rapid communication  on the Secretary of Gafta at the offices of Gafta. For the purposes of any time limits receipt of such notices by Gafta shall be deemed to be the date of service.”

Gafta 125 Rules – 3.9a:

Rule 3.9a of Gafta 125 Rules was amended to read as follows:

“3.9 (a) If an arbitrator dies, refuses to act, resigns, or becomes incapable of acting, and/or refuses to stand down in circumstances where, in Gafta’s reasonable opinion, it would be appropriate for him to do so, or if he fails to proceed with the arbitration, or is found to be ineligible, or his authority is revoked by the Gafta pursuant to the Gafta Rules and Regulations and Code of Conduct for Qualified Arbitrators, the party, or Gafta as the case maybe, who originally appointed that arbitrator shall forthwith appoint a substitute and serve notice thereof on the other party.”

Gafta 125 Rules – 11.2:

Rule 11.2 of Gafta 125 Rules was amended to read as follows:

“11.2 If a member of the board of appeal dies, refuses to act, resigns, or becomes incapable of acting, and/or refuses to stand down in circumstances where, in Gafta’s reasonable opinion, it would be appropriate for him to do so, or if he fails to proceed with the appeal, or is found to be ineligible, or his authority is revoked by Gafta pursuant to the Gafta Rules and Regulations Gafta will appoint a substitute.”

Gafta 126 Rules – Notices Clause:

The Notices clause in Gafta 126 Rules was amended to reflect the changes made to the Notice Clause in Gafta contracts from 01 January 2022 to read as follows:

“8.1 All notices to be served on the parties pursuant to these Rules shall be served in legible form by E-mail, or by other mutually recognised electronic method of rapid communication. For the purposes of time limits, the date of despatch shall, unless otherwise stated, be deemed to be the date of service.  Service on the brokers or agents named in the contract shall be deemed proper service under these Rules. So far as concerns such notices, this Rule over-rides any other provisions of the contract.”

Gafta 126 Rules – 3.7a:

Rule 3.7a of Gafta 126 Rules was amended to read as follows:

“3.7 (a) If an Arbitrator dies, refuses to act, resigns, or becomes incapable of acting, and/or refuses to stand down in circumstances where, in Gafta’s reasonable opinion, it would be appropriate for him to do so, or if he fails to proceed with the arbitration, or is found to be ineligible, or his authority is revoked by Gafta pursuant to the Gafta Rules and Regulations and Code of Conduct for Qualified Arbitrators, the parties, or Gafta as the case may be, may appoint a substitute arbitrator.” “