Bunge SA v Nibulon Trading BV

Under rule 4.10 of GAFTA Arbitration Rules No. 125 a claim lapses if neither party submits documentary evidence or submissions within the prescribed period, but a tribunal retains a discretion under rule 21(a) to admit an otherwise time-barred claim; a GAFTA board errs in law if it treats itself as obliged to dismiss without considering the merits where that discretion is engaged.