Sharp Corporation Ltd v Viterra BV – QBD (Comm Ct) (Cockerill J) [2022] EWHC 354 (Comm) – 18 February 2022

Saleof goods – Contracts for sale of pulses – Buyer failing to make payment – Seller reselling goods and claiming damages for default – Assessment of market value of goods on date of default – GAFTA default clause – GAFTA 24

By two contracts dated 20 January 2017 the defendant (Viterra) sold a quantity of lentils at US$600 per mt, and a quantity of yellow peas at US$339 per mt to the defendant (Sharp) on c&f free out Mundra terms. The contracts incorporate GAFTA form 24, and also a bespoke term (the Non-Payment Clause) entitling Viterra to resell the goods if Sharp failed to make payment before the goods arrived at the discharge port.