Page 73 - MEOMA Handbook

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23.
24.
25.
26.
DEFAULT
DOMICIL E
B ANKRUPTCY
ARBITRATION
If
at
In
he
be
act
the
by
the
the
shall
with
The
shall
Any
other
the
of
Prior
have
party
which
Where
Should
has
Should
petition
action
duration
contract
default
be
validity
deemed
calendar
the
to
before
Neither
between
contract
convene,
loss,
consider
other
preceding
damages
default
damages
business
end
liquidation
purchase,
after
closed,
is
or
fails
discretion,
no
arbitration.
or
the
to
of
if
Arbitration
party
default
determined
Secretariat
connection
if
the
the
of
shall
the
Buyer/Seller
and
of
of
Malaysia/The
call
the
contract
dispute
reconstruction
as
to
the
price
either
arbitration.
be
party
price
days.
by
any
the
party,
occurred,
allowed
or
any,
of
or
and
the
shall
last
other
of
such
either
date
giving
either
If
a
any,
the
bankruptcy,
such
award
or
at
end
fulfil
have
presented
and
suspended
on
awarded
(except
his
and
shall
be
at
a
party
of
fulfilment
after
then
the
day
hold
contract
arising
fulfilment
such
fulfilment
his
legal
for
hereto,
for
case
Price
therewith,
a
be
shall,
Malayan
parties
the
Appeal
the
shall
of
the
notify
notice,
such
be
of
resale
the
the
agreed
without
a
of
unfulfilled
disabling
price
of
performance
out
to
force
sale
elsewhere
nor
against
inability
price
extended
entitled
be
additional
the
or
may
to
any
exclusive
day
sale
the
shall
circumstances
this
or
of
the
payments
his
have
if
failing
to
to
part
winding
the
contract
Edible
of
be
market
of
in force
market
meeting
70
any
deemed
or
making
be,
and
or
of
so
the
be
amalgamation)
extended
between
this
Settlement
thereof
voluntary
at
a
his
to
period.
treated
Oil
the
up
majeure
proceedings
dissatisfied
claim
termination
and
contract
price
or
price
the
such
thereof
contract
either
contract
that
the
or
the
contract
right
as
is
or
damages.
of
against
repurchase
purchase,
shall
jurisdiction
amicable
persons
defaulter
agreement
on
have
of
so
circumstances
not
with
period,
he
by
event
then
purchase.
default
referred
ship/receive
winding
the
date
or
agreed),
shall
may
ascertained
of
be
creditors
the
shall
shall
contract,
is
his
against
If
be
being
either
if
either
the
paties
of
nomination
to
the
Committee
shall
default
but
up
in
been
be
then
by
takes
but
be
at
to
declared
ends
either
the
force
shall,
or
that
the
of
of
or
a
of
the
be
closing-out
day
have
current
claiming
apply
affected
either
party
the
not
Manufacturers'
wherever
about
a
to
settlement
he
neither
price,
a
of
defaulter
liable
made
justify
The
governed
creditors
for
for
to
possible
party
be
is
including
cancel
place,
within
party,
default
other
failing
of
the
shall
price
to
date
further
be
in
shall
limited
party.
or
in
under
the
the
arbitration
in
majeure
it,
an
become.
initiation
of
solvent
who
the
of
the
repurchase
the
be
accordance
the
to
shipment,
to
If,
Palm
any
liable
and
all
in
within
of
similar
shall
unable
or
exceeding
subsequently
twenty
Receiver
to
they
for
twenty
Oil
suspend
the
either
such
shall
Association
the
them
event.
matter
account
default
the
to
default
be
with
amicable
other
pass
domicile,
the
official
a
suspend
above
Malaysia
of
a
one
in
contract
any
on
pay,
one
for
determined
deemed
by
as
goods
resale
the
company
but
may
respects
the
found
question
or
meet
to
and
notice
Malaysia
party
right
if
closing-out
by
or,
the
(21)
should
the
for
at
(21)
contract
Refiners
them
Seller/Buyer
by
period
by
shall
of
and
payment
other
is
be
at
the
his
at
appointed,
under
the
differences
extended
(at
the
respect
arbitration.
be
shall
demand
of
payment,
residence
the
be
of
settlement,
the
resolution
amount
his
law
price
other
null
shall
their
shall
case
the
may
this
he
of
moratorium,
right
PORAM
the
or
to
not
debts
be
his
to
calendar
calendar
sixty
reason,
make
and
or
arbitration.
period,
any
go
which
Malaysian
may
exercised,
shall
shall
commit
party
between
bring
purpose
Association
notify
referred
option
Arbitrator(s)
have
sell
Rules
arising
place
days
(60)
void
that
days
the
contract.
difference
an
debts,
into
forthwith
of
discretion
dissatisfied
be
the
a
of
be.
to
Arbitrator(s)
of
be
construction,
absolute
the
The
or
good
the
become
his
either
to
decided
and
of
of
such
in
law,
PORAM
any
2'