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Bunge SA v Nidera BV
is a landmark decision of the United Kingdom Supreme Court in the area of commercial law, providing guidance on the assessment of damages arising out of a wrongful repudiation of a contract for the sale of goods.
==Background==
The parties entered into a contract for the supply of 25,000 metric tonnes of Russian milling wheat, which was to be shipped in the latter part of August 2010. It incorporated GAFTA Form 49,〔(【引用サイトリンク】url = http://www.agroam.ru/download/contract_gafta_49.pdf )〕 which provided procedures for termination and default damages.
When Russia introduced a legislative embargo on exports of wheat from its territory (which ran from 15 August to 31 December 2010), Bunge (the "Seller") notified the Buyer of the embargo and purported to declare the contract cancelled. Nidera (the "Buyer") did not accept that the Seller was entitled to cancel the contract and treated the purported cancellation as a repudiation, which it accepted on 11 August 2010. The following day the Seller offered to reinstate the contract on the same terms, but the Buyer would not agree. Instead, it began arbitration proceedings under the GAFTA rules in support of a claim for damages of US$3,062,500.
GAFTA's first-tier tribunal held that the contract had been repudiated, and its ruling was upheld by the GAFTA Appeal Panel, which awarded the Buyer its claim in full. The ruling was subsequently upheld by the Commercial Court and the Court of Appeal of England and Wales.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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