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Remedies To Missing Shipping
REMEDIES TO MISSING SHIPPING INSTRUCTIONS-TYPE 1
At least business days before the date each shipment is required to be made, buyer shall furnish to seller written shipping instructions. On the failure of buyer to furnish shipping instructions when due, seller may, on notice to buyer by telegram or letter addressed to the last known place of business of buyer, exercise the following options:
(1) Terminate that portion of the agreement on which there has been default, and buyer shall pay to seller any loss, damage, and expense that may arise through the failure of buyer to carry out the provisions of this agreement. The measure of the loss, damage and expense of seller shall be the difference between the agreement price, less any freight included in the agreement price, and the cost of replacement to seller at dates of cancellation. For purposes of this agreement, the cost of replacement to seller shall be determined at the option of seller by either of the following methods: (a) The cost to seller of manufacturing and preparing for shipment an equal quantity of the goods covered by this agreement, or (b) the price at which seller could purchase an equal quantity of the goods covered by this agreement.
(2) Extend the shipping period for days, invoicing to buyer as a carrying charge $ [Carrying Charge] Dollars per [unit] each [Period in days] days or a fraction thereof in which buyer is in default. Demand draft covering any invoice provided for in this agreement may be made on buyer when shipping instructions are due, and any extension of the shipping period is not to be effective until buyer has honored the draft for carrying charges as provided in this section.
(3) Sell the goods for the buyers account.
This is a UCC-buying and selling provision. It is designed to supplement UCC buying and selling forms found in this category.