I CONTRATTI DI "COUNTERTRADE"

Accordo di "buy-back" - 2° caso

Sesto di nove articoli pubblicati sulla "Gazzetta Valutaria e del Commercio Internazionale nel 1991

cod.: GV.91.02.COM.6

Nell'articolo precedente era stato presentato uno schema di accordo di buy-back che per la sua estrema stringatezza e per le circostanze che l'avevano originato trascurava molti aspetti operativi e lasciava aperte le porte ad ogni possibile successiva "negoziazione" fra le parti. Nell'esempio che viene proposto in questo elaborato si noterà, invece, una maggiore attenzione alla definizione dei dettagli operativi tendenti ad una più esatta determinazione dei criteri di fissazione dei prezzi e ad una maggiore salvaguardia della qualità dei prodotti di ritorno. Anche nel caso del countertrade si può verificare il caso in cui la "forma" contrattuale è spesso condizionata dall'entità dell'operazione, dalla tipologia del prodotto trattato, dalla forza negoziale delle parti e, non ultimo, dagli usi delle "piazze" coinvolte nella transazione. D'altro canto, la fattispecie in esame riguarda un bene di ritorno che per ragioni di immagine e di marchio (si tratta, in realtà, di un prodotto alimentare destinato prevalentemente all'infanzia), nonchè per necessità di rispetto di precise normative sanitarie, deve sottostare a determinati requisiti dai quali sarebbe pericoloso derogare. L'operazione, come di consueto, si manifesta attraverso la stipula di due contratti distinti: il primo (qui omesso) che riguarda la fornitura dell'impianto di produzione ed il secondo che contempla il ritiro dei prodotti finiti, fino alla concorrenza del valore dell'impianto stesso. Nel testo dell'accordo di buy-back (che è stato stipulato da un nominativo occidentale differente dall'esportatore dell'impianto) viene più volte citato il contratto di cessione del bene primario e, soprattutto, viene fatto riferimento alle specifiche tecniche incluse nel "Plant Production List". In aggiunta ai due contratti menzionati vi sarà quindi un sottostante accordo, fra l'esportatore dell'impianto e l'importatore dei prodotti finiti, per la definizione dei rispettivi compiti e responsabilità. A differenza di quanto visto nell'esempio di cui al precedente articolo (allorquando il pagamento dell'impianto avveniva compensandone il valore attraverso uno "sconto" sui prodotti di ritorno), nel caso in esame i pagamenti avvengono in valuta ed in forma distinta: l'impianto viene regolato in base ai termini previsti nello specifico contratto ed i prodotti di ritorno vengono pagati secondo le modalità di seguito specificate. Non sono previste "penali" per eventuali inadempienze che, ove ricorrenti, verrebbero demandate ad un giudizio arbitrale. L'accuratezza con cui è stato formulato il contratto di buy-back e la dettagliata elencazione degli obblighi delle parti ridurrà al minimo la necessità di aggiungere ulteriori commenti.

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Schema di contratto di buy-back concluso fra un Ente di Stato sovietico (Sellers) ed un importatore occidentale (Buyers), per il regolamento compensativo di un impianto per la trasformazione di un prodotto alimentare (P). L'impianto è stato fornito da un ente occidentale differente dal "Buyers" (Company).

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Note Testo

.............. , hereinafter referred to as "the Sellers"

and

............... , hereinafter referred to as "the Buyers",

have concluded this Contract whereby the Sellers sell and the Buyers buy for resale on the terms and conditions stated herein.

1. 0 - Definitions and quality of goods

1.1- (a) "Contract No. ......" means the contract dated ..... , entered into between .....(Company).... and ....... (Ente sovietico).......

(b) "Plant" means the plant to be construed in the USSR for the production of .......... based on ......(Company)'s technology in accordance with Contract No. .................

(c) .....(P).... means the ......... produced at the Plant, mainly.......... in accordance with para. 1.4 and 1.6 hereunder out of the Plant Product List attached hereto as Exhibit A and made a part hereof.

1.2 - The quality of (P) is to be in accordance with the quality and specifications provided for in the Plant Product List.

USSR State standards for (P) are only acceptable to the Buyers if they can be directly related or interchanged with the applicable ......(Company)'s standards and specifications.

1.3 - The Sellers shall promptly advise the Buyers when (P) produced at the Plant meets the quality standards and specifications as per the Plant Product List. In the case that, after start up of the Plant and after completion of the test-run, the guaranteed quality parameters of (P) provided for in the Plant Product List are not reached at least for one of the quality parameters, then the quality parameters of (P) supplied under this Contract are to be amended accordingly after agreement between the parties hereto.

1.4 - The estimated grade requirements of (P) shall be advises by the Buyers not later than six months prior to the beginning of each year of delivery; the final settlement of the assortment of (P) grades, taking into consideration possibilities of the Sellers, shall be completed not later than three months prior to the beginning of each year of delivery.

1 1.5 - If, during the term of this Contract, market conditions and technology progress in ..... require changes in the quality of (P) as presently specified in the Plant Product List, then the Buyers and the Sellers shall mutually agree on a different (P) product list, taking into consideration possibilities of the Sellers subject to its compatibility with the (P) technology supplied by ..(Company).

1.6 - The Buyers shall make all efforts to limit the number of different grades of (P) supplied hereunder considering market conditions and the Plant's production program during any given year.

2. 0 - Quantities

2 2.1 - The Sellers shall deliver to the Buyers for resale, primarily into EC countries, over a period of eight years certain quantities of (P) from the Plant for a total purchase value of not more than ........ million US dollars to cover the hard currency expenditures for the equipment and the (P) Plant with spare parts for this equipment, technical documentation, licence, technological process, interest for credit facilities and advanced payment under Contract No. .....

2.2 - Such quantities of (P) are presently estimated to reach a total amount between ..... and .... metric tons, according to the following schedule: .............................................

Actual quantities of (P) to be delivered by the Sellers during each year will be negotiated between the parties in compliance with provisions made under para. 2.1, considering the Buyers' remaining purchase commitment and prevailing market conditions for ..... in the EC countries. It is however understood that the quantity of (P) to be sold and purchased hereunder during each calendar year shall reach a minimum value of .... million US dollars per full calendar year up to the total purchase value of this Contract of not more than .....million US dollars.

3 2.3 - During the term of this Contract, the Buyers will have a first option to purchase from the Sellers, upon the terms and conditions of this Contract, any additional quantities of (P) which would be available for export sale from the Plant.

2.4 - If at any time during the term of this Contract the market conditions of (P) substantially change for any reason whatsoever in a part of or in the whole territory of the EC so as to affect the Buyers' possibilities of resale, then the parties shall find by mutual agreement a solution which will reflect the Buyers' new resale possibilities, taking into consideration the Sellers' interests.

3. 0 - Deliveries

3.1 - The delivery period of (P) shall commence six months after the successful completion of the constructor's guaranteed performance test, presently scheduled for .....19.. , to be run at the Plant according to the provisions of Contract No. .... The Sellers shall immediately notify the Buyers of the date of the successful completion of the above test.

3.2 - Deliveries of (P) shall be equally spread over the year in maximum increments of .... metric tons.

3.3 - Three months prior to the beginning of each calendar year, the Buyers shall indicate to the Sellers:

(i) the total quantities of each grade of (P) to be delivered during each calendar quarter of the following year, subject to para. 2.5 hereabove;

(ii) the port or ports of destination for each shipment, subject to changes at the Buyers' request and considering the possibilities of the Sellers, however not later than two months prior to the beginning of the calendar quarter in which the shipment is to be made.

3.4 - Deliveries of (P) purchased by the Buyers from the Sellers in accordance with para. 2.4 hereabove shall be arranged by mutual agreement between the Buyers and the Sellers.

4. 0 - Delivery terms

(omissis)

5. 0 - Price

5.1 - The parties hereby agree to accept as the price basis for (P) the current price for ...... in the Western Europe market.

5.2 - When determining the CIF main European ports price, the parties shall consider the following factors and documents:

(a) The prices of the transaction for ........ concluded by the Sellers and the Buyers during the calendar year preceding the year of delivery on CIF and FOB European ports, free delivered customers, franco-border or other terms, it being understood that such prices shall be adjusted to CIF main European ports basis.

(b) Offers and bids made by other companies in the Western European market to either party.

(c) Customs export/import statistics of the Western European market, publications and other documents from generally recognized sources in Western Europe for the purpose of determining the trends of the (P) price in the Western European market.

5.3 - Four months prior to the beginning of each calendar year, the parties shall meet in order to establish the CIF main European ports price to be applicable during the next following calendar year whereby the parties, when calculating such CIF main European ports price, shall take due account of the above mentioned factors and documents as well as of other conditions which are usually taken into account between sellers and buyers when making price in sale and purchase agreements for resale. The parties shall make their best efforts to resolve any differences on the CIF main European ports price for the following calendar year, prior to ...........

5.4 - In case of serious changes in the market situation of ..... resulting in price fluctuations, either party may, not later than two months prior to the second half of any calendar year, request a revision of the CIF main European ports price for the second half of said year. These price negotiations shall follow the same procedure as for the yearly price negotiations.

6. 0 - Payment terms

6.1 - Payment for (P) delivered under this Contract shall be effected in US dollars.

6.2 - After shipment of each lot of (P) has been done, the Sellers shall present the following set of documents to the Buyers' Bank:

(a) the Sellers' invoice in ....fold;

(b) two signed originals out of three signed original clean on board Bills of Lading issued at any Soviet port and duly stamped "freight paid", and the ship's Captain receipt for the third original clean on board Bill of Lading;

(c) weight certificate in ....fold;

(d) the Sellers' or Works' Quality Certificate in ... fold;

(e) Insurance Policy or Certificate of the ........ , by delivery on CIF terms.

6.3 - The number of days of payment granted by the Sellers to the Buyers shall be negotiated each year according to para. 5.3 of this Contract. Such numbers of days shall be those then currently extended to customers of ..... in the Western European market.

7. 0 - Contract duration

7.1 - This Contract shall commence on ........ and shall be terminated when (P) will have been sold and purchased hereunder for a total value of .... million US dollars as provided for in para 2.1

7.2 - Prior to the termination of this Contract, the parties hereto will inform each other about their mutual interests in an eventual extension of their commercial relationship with respect to (P).

7.3 - If the commencement of deliveries of (P), meeting the quality standards and specifications referred to in Art. 1 hereabove at commercial rates, which is estimated to occur during 19.... , is delayed for any reason whatsoever, the parties will discuss an eventual revision of para. 2.2 of this Contract. Such commencement of deliveries is scheduled to occur during 19... However, if it does not occur prior to the end of 19..., both parties shall endeavour to find a solution to overcome the problems caused by the Sellers' deferred deliveries of (P).

8. 0 - Packaging

(omissis)

9. 0 - Markings

9.1 - All (P) packages (........., as the case may be) shall be marked as follows, unless otherside stipulated by the Buyers: ....................

9.2 - It is expressly understood that, under this Contract, except as hereabove provided for, the Sellers are granted no right nor licence whether expressed or implied to use any trademark or proprietary terms owned by ........... or its affiliates. Moreover, the Sellers undertake to cease any use of the above trademark upon termination of this Contract.

10.0 -Claims

10.1 -Claims concerning the quality of (P) may be presented by the Buyers to the Sellers only if quality of (P) actually supplied against this Contract does not correspond to the requirements of Art. 1 hereabove as a result of production defects. In case of such claims, four samples are to be drawn from the rejected lot for the Buyers' account in the presence of the representatives of the Sellers, if requested by the Sellers, and of the Buyers, and to be jointly sealed by them. The drawing of samples should be effected with the rules existing in the Sellers' country, which rules are attached hereto as Exhibit C. Two of the samples thus drawn are to accompany the Buyers' claim or to be given to the Sellers' representative and two are to be left with the Buyers. The Buyers shall cable or telex to the Sellers the date in which such samples are mailed to them. Out of the two samples received by them, the Sellers should refer one for control testing to the corresponding State Institute of the USSR specialized in this particular line for their own sole purpose. As soon as possible, but not later than thirty days from the date the Buyers have sent the samples to the Sellers, the Sellers shall telex, fax or cable to the Buyers whether they accept or refuse the claim. In case the Buyers do not receive an answer from the Sellers after thirty days have passed from the date the Buyers have sent the samples, the claim shall be considered by the Buyers as being refused by the Sellers. The Buyers shall then submit a sample to the independent surveyor mentioned under para. 10.3 for final resolution of the claim, and inform the Sellers accordingly.

10.2 - In case the results of the analysis made by the Sellers and the Buyers do not conform, the Buyers shall send one sample to a neutral competent organization, namely ......, or to any other organization agreed upon between the parties hereto. The results of the control testing obtained by the latter organization shall be final and binding upon both parties.

10.3 -If, according to the results of the control testing made by the said neutral competent organization or as otherwise accepted by the Sellers, the rejected lot or lots of (P) do not conform to the quality standards and specifications referred to Art. 1 hereabove, the claim shall be settled between the Buyers and the customers, it being understood that:

(a) the Buyers shall make their best efforts to sell the defective (P) to the said customer or to any other customer with a discount;

(b) as requested by the Buyers, the Sellers shall promptly ship (P) in replacement of the defective lot or lots;

(c) the Sellers shall reimburse the Buyers for the discount granted to the customer, if any, as well as for costs and expenses incurred to the Buyers in connection with the settlement of such claim, such as costs related to transportation and storage.

10.4 - Claims concerning the quantity of (P) may be presented by the Buyers to the Sellers only if any shortage is found inside the intact original producer's containers, bearing no traces of having been tampered with and which arrived at the destination point with intact control bands and seals of the manufacturing works. Adequate report made up with the participation of the representative of the Sellers, if requested by the Sellers, or of official surveyors of the Buyers' country or other neutral competent bodies of the Buyers' country, must accompany such claims.

10.5 - Any claims may be presented to the Sellers by telex, fax or cable only within four months as from the date of arrival of (P) at the port of destination. Not later than two weeks following the date of the above telex, fax or cable, the Buyers shall send to the Sellers details about the technical aspects of the claim with supporting documents.

10.6 - No claim may be made on account of any indirect or consequential damages if such damages are caused solely by the wrongful processing of (P) in the installations and equipment owned by the Buyers or third parties.

10.7 -The costs of the independent surveyor shall be borne by the party at fault.

11.0 -Force Majeure

(omissis)

12.0 -Arbitration

(omissis)

13.0 -Miscellaneous

13.1- Any amendments and/or additions to this Contract shall be valid only if made in writing and signed by duly authorized representatives of both parties concerned.

13.2- After this Contract has been signed, all and any previous negotiations and correspondences pertaining thereto shall be considered null and void.

13.3- Neither of the parties hereto has the right to assign its rights and obligations under this Contract to any third party without the written consent of the other party, which consent shall not be withheld without due cause.

13.4- Each shipment and/or delivery of (P) is to be considered as a separate contract.

13.5- The Buyers undertake to present to the Sellers quarterly information about the overall supply and demand of ....... in Western Europe.

13.6- Notices may be given by telex, fax or cable and shall be confirmed by registered letter in cases of force majeure, assignment, date of constructors' guaranteed performance test, arbitration, claims and other important matters under this Contract.

IN WITNESS WHEREOF,

..........................

...........................

...........................

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Note:

1 - Mantenimento della qualità del prodotto di ritorno

Le parti si sono giustamente preoccupate di salvaguardare il mantenimento della qualità del prodotto in caso di futuri mutamenti della domanda del mercato o di miglioramenti nella tecnologia di produzione.

2 - Limitazione territoriale e quantità da ritirare

La limitazione alla rivendita del prodotto nei Paesi della Comunità Europea è espressa in forma "morbida", tale da consentire una eventuale estensione ad altri mercati extra-comunitari. La quantità, ed il conseguente valore, dei prodotti da ritirare dovrà coprire non solo il valore dell'impianto, bensì anche il costo delle parti di ricambio, dei diritti di licenza (il bene finale verrà distribuito anche nel mercato di produzione per il soddisfacimento della domanda interna), nonchè gli interessi pagati dall'Ente sovietico sulle dilazioni di pagamento concesse dall'esportatore primario. In questo modo tutti gli esborsi in valuta effettuati dall'URSS verranno compensati dagli introiti in valuta ricavati dall'esportazione del prodotto finale.

3 - Estensione della possibilità di acquisto dei prodotti di ritorno

A richiesta dell'importatore, e compatibilmente con le disponibilità esistenti, le quantità di prodotto da ritirare potranno essere aumentate oltre il limite fissato per il solo regolamento compensativo del valore dell'impianto.