Terms
Payment Terms
- Cash Upfront - Cash Upfront by TT (MT103).
- CaD - Cash against Documents - Bank Confirmation Letter or Blocked Funds (MT799) as proof of funds and payment by wired transfer (TT, MT103) against shipping document or warehouse receipt (such offers NOT available on regular basis).
Please note, that Cash Upfront are SPECIAL OFFERS TO EXISTING CUSTOMERS ONLY. Cash against Documents is ONLY available as SPECIAL OFFERS.
- SBLC/BG+TT - Standby Letter of Credit or Bank Guarantee (SBLC/BG MT760) as guarantee and wired transfer (TT, MT103) for payment. The SBLC is usually for the amount of one month shipment value.
- (R)DLC - Non-transferable (Revolving) Documentary Letter of Credit (DLC, MT700 or MT710) as guarantee and payment. If revolving, the revolving value will be for one month's shipment value.
Performance Bond (PB, MT760) as counter guarantee to Cash Upfront, SBLC+TT, BG+TT and DLC - both annual contract and SPOT. The Performance Bond is 2% of one month's value - regardless of the total value of the SBLC etc.
Shipping
Shipping terms
- CIF Only - Cost, Insurance and Freight (CIF) to Any Safe World Port (ASWP), cf. INCOTERM 2010.
CIF includes all costs related to the acquisition of the goods, the transport to the port of loading, the loading of the vessel, all export duties and port fees, the transport from port of loading to port of destination, expenses to anchoring, approaching and mooring at the port of destination. All expenses related to unloading the vessel at the port of destination, terminal handling charges, import fees etc. are to be paid by the consignee/buyer.
- Containers
- Full 12,500 MT Vessel
- Full 25,000 MT Vessel
One contract may have multiple destinations as long as each shipment is divisible by the available vessel sizes of 12,500 MT and 25,000 MT.
Contract Type
- SPOT - one time only
- Annual Contract - shipping every month in one year
- Ready to go - on loaded vessel. SPECIAL OFFERS ONLY
- Fast Track - from warehouse: Loading in 5-7 days. SPECIAL OFFERS ONLY
- Futures - from refinery: Loading in 15-45 days depending on quantity
Shipping time depends on port of destination but will typically be 10-25 days.
Inspection
- Certificate of Analysis & Weight issued by SGS
- Phytosanitary Certificate issued by SGS
The inspection by SGS is taking place at port of loading - unless agreed differently. Buyer is ALWAYS entitled to be present when SGS inspects the shipment and take samples. The Certificate of Quality is based upon samples taking by SGS and analysis conducted by SGS contracted laboratory.