TRADE TERMS
How we contract.
Standard terms below. Anything here is negotiable against volume and tenure, and everything agreed is confirmed in the sales contract rather than by correspondence.
01
Incoterms
The port of loading is selected on the sourcing region for each lot and is named in the quotation and the sales contract. EXW is not offered. CIF quotations are valid for 7 days from issue given freight volatility.
02
Payment
LC must be workable and opened through a bank acceptable to us. Discrepancy charges are to the buyer account.
03
Quality basis
The approved sample is sealed and retained in three sets. Where destination limits are stricter than the Indian standard, the destination limit governs. Specification sheets are issued on enquiry. A certificate of analysis is issued per lot and travels with the shipment.
04
Inspection and sampling
Where an independent surveyor is appointed, the surveyor certificate is final as to quality at load port.
05
Claims
Claims raised after the window, or without reference to the sealed retention sample, cannot be assessed.
06
Arbitration
Disputes not settled by negotiation are referred to arbitration under the rules of the Indian Council of Arbitration.
07
Force majeure
Covers crop failure, export restriction, port closure and comparable events outside reasonable control.
These terms are indicative and do not constitute an offer. The executed sales contract governs.