Standard Commercial Terms & Conditions of Sale
Defining legal responsibilities, trade contracts, and operational terms governing global transactions.
Commercial Contracts and Quotation Validity
All price quotations, formal Proforma Invoices, and trade offers issued by the company remain valid for 7 calendar days from issuance unless explicitly stated otherwise in writing. A binding international sales contract is established upon receipt of a countersigned Proforma Invoice and confirmation of agreed advance funds or receipt of an operable Letter of Credit (L/C).
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Product specifications detailed in executed contracts—including physical grades, moisture limits, chemical active percentages, and packaging standards—supersede all pre-contractual negotiations, informal emails, or verbal representations.
Incoterms, Title, and Risk Transfer
Commercial transactions are governed by Incoterms 2020 definitions as designated in individual sales contracts. For FOB shipments, risk of loss or damage transfers to the buyer as goods pass the vessel's rail at the named port of loading. For CIF/CFR shipments, seller risk transfers upon loading, while freight/insurance obligations extend to the named port of destination.
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Title and ownership of exported commodities remain with the seller until full payment is received, or until an irrevocable, confirmed L/C is opened and accepted by the negotiating bank.
Payment Terms, Force Majeure, and Arbitration
Approved payment methods include Telegraphic Transfer (T/T) with an agreed advance deposit, or 100% Irrevocable Letter of Credit (L/C) at Sight issued by a prime international bank. Late payments accrue interest at 1.5% per month on outstanding balances.
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Neither party shall be held liable for failure or delay in fulfilling contractual obligations caused by Force Majeure events beyond reasonable control, including natural disasters, ocean freight disruptions, export embargoes, or sudden statutory changes. Unresolved trade disputes shall be submitted to binding arbitration under the rules of the International Chamber of Commerce (ICC).