Trans Trade RK SA v State Food and Grain Corporation of Ukraine [2025] EWHC 1803 (Comm) - King's Bench Division, Commercial Court (Mr Justice Andrew Baker) -17 July 2025

Sale of goods - Action for the price - Arbitration - Error of law - Sale of Goods Act 1979, section 49 - Arbitration Act 1996, section 69

Under three contracts of sale entered into in May and June 2021, the claimant buyer agreed to buy from the defendant seller a number of cargoes of Ukrainian corn. Each of the contracts was subject to GAFTA Form 49 for the delivery of goods in central and eastern Europe in bulk or in bags on FOB terms. The contracts included an Amended Payment clause under which 100 per cent of the value of the goods delivered was to be paid by the buyer via bank transfer against the shipping documents as listed in the clause (including clean bills of lading marked "to order") and that time of payment was of the essence.