Oon & Bazul secures a win in GAFTA Arbitration

Published On: April 24, 20230.6 min read

Oon & Bazul LLP successfully represents a Singapore-based commodity trader in a GAFTA Arbitration to defend a multi-million dollar claim brought by its trading counterparty.

The dispute revolved around an alleged failure to open a letter of credit under the sale contract. After hearing parties’ submissions, the GAFTA Tribunal dismissed the opponents’ claim in its entirety. We are pleased to have secured this favourable outcome on behalf of the client.

The matter was handled by our Partner and Head of Shipping, Prakaash Silvam and Senior Associate, Guang Yi Ng.

Our team of commodities lawyers are geared towards the needs of the global trading industry and includes experts in all areas of International Trade. If you have any queries, please do not hesitate to get in touch with us.