ARTICLE 15
TITLE AND RISK
15.1. The shipment of the Coal shall be deemed to have been sold and delivered to the Buyer, if the unloading at the receiver port is finished. All Coal shall be deemed sold and delivered to the Buyer and the title, risk of loss or damage there to or destruction thereof shall pass to the Buyer.
15.2. In the event that a shipment of Coal is rejected, in accordance with Article 6 and 8, then the title and risk of loss or damage of that Coal shall pass back to the Seller upon the Buyer’s notice.
15.3. The Parties may, without prejudice to any other remedy for breach of the Contract, by written notice of default sent to the other party, terminate the Contract in whole or in part, if;
15.3.1. The Seller fails to deliver any or all of the goods within the time limit specified in the Contract or within any extended period granted by the Buyer, or
15.3.2. The Buyer fails to upkeep any of the commitment/s related to the Contract, such as opening of Letter of Credit within the time limit specified in the Contract or within any extended period thereof by the Seller, or
15.3.3. If any of the Parties fails to perform any other obligation/s under this Contract.
15.4. In the event either Party terminates the Contract in whole or in part, according to the foregoing paragraph ,then the other party may procure/ sell with such terms and manner as deemed proper, goods similar to those undelivered or not lifted.
15.5. The terminating party as per foregoing paragraph 15.4. shall be liable to the other party for any extra cost/s incurred for such similar goods. However, the Parties shall endeavour for continuation of remaining Contract to the extent not terminated.
ARTICLE 16
CONFIDENTIALITY
The Parties shall keep this Contract in strict confidentiality and neither party shall disclose the terms without prior written consent from the other party, except to the extent required to carry out the obligations or to remedy any breach in the Contract, or as otherwise required by Laws, rules, regulations and/or directions for the Government of the Republic of Indonesia, and/or for the Government of China.
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