The Peanut kernel case China Arbitration award of

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The “Peanut kernel” case China, Arbitration award of June 1999 The presentation was prepared by Vasileyva Maria Alen Moiseev

Case Table of Presentation: Case identification UNCITRAL abstract Case note

Case identification: ● DATE OF DECISION: 19990600 [June 1999] ● SELLER'S COUNTRY: Peoples' Republic of China (claimant) ● BUYER'S COUNTRY: Netherlands (respondent) ● GOODS INVOLVED: Peanut kernels

UNCITRAL abstract: ● PRC: China International Economic & Trade Arbitration Commission, Peanut kernel case of June 1999 ● The Case law on UNCITRAL texts (CLOUT) abstract no. 685 Reproduced with permission of UNCITRAL Abstract prepared by Jean Ho( Professor Zhang)

Case Note 1)CAUSE OF ACTION: Dispute on payment in international sale of goods 2)PARTIES: Claimant: A company registered in P. R. China [Seller]. Respondent: A company registered in Netherlands [Buyer] 3)FACTS: Plaintiff and Defendаnt entered into a contract for the purchase and sale of peanut kernels on the 23 March 1994. They agreed that the defendant would purchase 5, 000 ton of peanut kernels (hereinafter: the "goods") from Plaintiff and that the peanut kernels should be 40/50 standard grains per ounce, at the price of US $715 per ton, FOB Tian Jin [People's Republic of China]. The total price was US $3, 575, 000, to be paid by irrevocable and negotiable Letter of Credit [L/C] within 15 days prior to the time of shipment. The time of shipment was from April to May 1994. 4)Procedural history: The trial court found for the plaintiff. The defendant would compensated for the plaintiff reasonable losses US $52, 200. The plaintiff’s other claims were dismissed

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