GENERAL TERMS AND CONDITIONS FOR EXPORT (FOB) - [Click to View]

Trade Terms

To interpret all commercial terms and abbreviations used herein and which have not been otherwise defined, the rules of 'INCOTERMS 2000' shall be applied.

Prices

Price(s) as agreed between the Seller and the Buyer are inclusive of the labour charges
The Buyer shall arrange at his own costs and expenses to provide to the Master of the vessel at the LOAD PORT.
The Seller shall under no circumstances be liable for any costs, charges, liabilities of whatsoever nature arising subsequent to the delivery / loading of the Goods/Items s on board the vessel on the basis of FOB (Stowed) Load Port, such as ocean freight, insurance charges, port dues, taxes including income tax, customs duties, unloading and handling charges, levies and fees, if any, of whatsoever nature and kind, payable or leviable at the time of or by reason of importation of the Goods/Items s in the country of import.
 Inspection

The Goods/Items will be inspected at the load port prior to loading by a Pre-shipment Inspection Agency, mutually acceptable to the Seller and the Buyer. The Inspection Certificate shall certify :

That the Goods/Items were inspected at the load port prior to loading and the markings were as per the requirements of the Agreement between the Seller and the Buyer

Total number of pieces / bundles/ packets and weight in respective measures of the Item.

That the Goods/Items loaded on board the vessel are without apparent damage, properly lashed and secured inside the hatches/ holds of the vessel.

              The cost of such Pre-shipment Inspection at the load port shall be borne and paid for by

              the Seller.

Delivery/ Shipment

The shipment schedule will be subject to the condition that

Within 15 Days after receipt of full payment thru Telegraphic Transfer in the favour of Seller.
                                                                        Or

The Seller is in possession of the Letter of Credit satisfactory in all respects to the Seller, within the time schedule.
                                                             Or

Subject to acceptance by the Seller of vessel(s) nominated by the Buyer and subject to the arrival of such vessel(s) at the load port within the agreed lay can with such extensions as may be mutually agreed upon in writing (in which event the validity of the Letter of Credit for shipment and negotiation shall be promptly extended by the Buyer), the Seller shall deliver the Goods/Items s on FOB load port terms.

                      *Shall be decided as per terms of Contract between the Seller & Buyer.

 Risk and Title

With respect to each shipment, the risk shall pass from the Seller to the Buyer as soon as the Goods/Items cross the ship’s rails at the LOAD PORT.

The title to the Goods/Items s shall pass from the Seller to the Buyer only after the Seller has negotiated the documents and has received payment of the full invoice value of the Goods/Items.

Right of Transfer

Neither the Buyer nor the Seller shall be entitled to assign or transfer contract resulting from this Agreement except to its successor or permitted assignee(s) and in the case of any such assignment or transfer, the contract shall be binding upon such successor or transferee.

Modification of the Contract

This Agreement cancels all previous negotiations/ agreements between the parties hereto. There are no understanding(s) or agreement between the Buyer and the Seller which are not fully expressed herein and no statement or agreement, oral or written, made prior to or at the signing hereof shall affect or modify the terms hereof or otherwise be binding on the parties hereto. No change in respect of the contract covered by this Agreement shall be valid unless the same is agreed to in writing by both the parties hereto specifically stating the same to be an amendment to this Agreement.

Red Clause

In the event of:

The failure of the Buyer to nominate a suitable vessel within the specified laydays, as mentioned in the Seller’s Notice of Readiness (NOR)
                                                                                   Or

The vessel nominated by the Buyer and accepted by the Seller failing to arrive at the designated load port within the agreed laycan for reasons other than Force Majeure, as defined herein below.
                                                                                   Or

The vessel (nominated by the Buyer and accepted by the Seller) being found unsuitable after its arrival at the designated load port, as certified by independent marine surveyor(s),

the seller shall be entitled to negotiate their Commercial Invoice against the L/C opened by the Buyer and realize 100% of the value of the Goods/Items ready for shipment on the basis of certificate issued by the Pre- shipment Inspection agency certifying that the contracted Goods/Items and quantity are ready for shipment and also that the Goods/Items s are in good condition.

The following points shall be considerable:

The title having already passed on to the buyer, the Goods/Items s will thereafter be held in custody by the seller at the risk and responsibility of the buyer at the storage yard of the seller. The Goods/Items s will be covered by tarpaulin at the buyer’s request and cost at the storage yard of the seller.

The cost of holding Goods/Items shall be as follows till the date of acceptance of vessel’s NOR, when the vessel finally calls at the load port : Buyer to ensure that payment towards Ground Rent and/or Tarpaulin cost is remitted and remittance instruction duly forwarded by SWIFT message, before actual shipment, against the debit invoice.

The Buyer shall however nominate [another] suitable vessel within reasonable time from the date of realization of payment, as mentioned above, for taking delivery of the cargo and subject to such vessel arriving at the designated load port, the seller shall at his cost deliver the Goods/Items s FOB [SLSD] in terms of Contract.

The Letter of Credit * established by the buyer in favour of the seller shall make specific and unconditional provision to the above effect.

* L/C to be opened with First Class International Bank having Correspondent relationship with State Bank of India. Name of the Banks can be obtained by the buyer from us.

Waiver

Failure to enforce any condition herein contained shall not operate as a waiver of the condition itself or any subsequent breach thereof.

Force Majeure

If the Seller and/ or the Buyer be prevented from discharging its or their obligation under this Agreement by reason of arrests or restraints of Princes or Rulers , Government of People , War, Blockade, Revolution, Insurrection, Mobilization, Strikes, Riots, Civil Commotion, Lock Outs , Accidents, Acts of God, Plague or other epidemics, destruction of the Goods/Items s by fire or flood or other natural calamity or on account of any other cause beyond the Seller’s or the Buyer’s control and interfering with the production and/or delivery of the Goods/Items s as herein above contemplated, the time for delivery shall be postponed by the time or times during which production and/or delivery is prevented by any such causes as herein above mentioned, provided that in the event of such delay exceeding ninety days , the party other than the party which invokes the force majeure may at their option, cancel this Agreement by Notice in writing to the other party in respect of the undelivered quantity of the Goods/Items s without , however, any right against or being responsible to the other party for such cancellation. The party invoking force majeure shall within 15 days of the occurrence of force majeure causes, put the other party on notice, supported by certificate from the Chamber of Commerce or concerned governmental authority and shall likewise intimate the cessation of such causes. If the force majeure condition continues beyond a period of six months, the Seller or the Buyer may at his option cancel this Agreement by notice in writing to the other party in respect of the undelivered quantity of the Goods/Items s without, however, any right against or being responsible to the other party for such cancellation.

Legal Interpretation

This contract shall be governed and construed in accordance with the Laws of India for the time being in force.

Settlement of Disputes

All disputes or differences whatsoever between the parties hereto arising out of or relating to the construction, meaning or operation or effect of this contract or the breach thereof shall unless amicably settled between the parties hereto, be settled by arbitration in accordance with the Rules of Arbitration of the Indian Council of Arbitration (ICA) ,New Delhi, India by a sole Arbitrator appointed by the Arbitration Committee of the Indian Council of Arbitration, New Delhi, India and the Award made in pursuance thereof shall be binding on both the parties. The venue for the arbitration proceedings shall be New Delhi, India.

Import/ Export License

It shall be the responsibility of the Seller to arrange export license(s), if any, required and it shall be the responsibility of the Buyer to arrange for the import license(s) , if required, in the country into which the Goods/Items s are intended to be imported.

General Clause

It is expressly understood and agreed by and between the Buyer and the Seller that the Seller is entering into this Agreement solely on its own behalf and not on behalf of any other person or entity. In particular, it is expressly understood and agreed that the Government of India is not a party to this Agreement and has no liabilities, obligations or rights hereunder. It is expressly understood and agreed that the Seller is an independent legal entity with power and authority to enter this contract solely in its own behalf under the applicable laws of India and general principles of Contract Law. The Buyer expressly agrees, acknowledges and understands that the Seller is not an agent, representative or delegate of the Government of India. It is further understood and agreed that the Government of India is not and shall not be liable for any acts, omission(s), commission(s), breaches or other wrong(s) arising out of the contract. Accordingly, the Buyer hereby expressly waives, releases and foregoes any and all actions or claims including cross claims, impleader claims or counter claims against the Government of India arising out of this contract and covenants not to sue the Government of India as to any manner, claim, and cause of action or thing whatsoever arising out of or under this Agreement.

Change in Destination

The contracted cargo has to be taken to the designated station only. Any change in destination shall be made through a formal agreement to this Agreement and on the mutually agreed terms and conditions.

FOR AND ON BEHALF OF THE SELLER

M/S LEVANTAR TRADE PRIVATE LIMITED

47, Adchini Village

South Delhi 110017

SIGNATURE

NAME

DESIGNATION

PLACE

DATE

FOR AND ON BEHALF OF THE BUYER

M/S_____________________________

SIGNATURE

NAME

DESIGNATION

PLACE

DATE

GENERAL TERMS AND CONDITIONS FOR EXPORT (CFR) - [Click to View]

Trade Terms

To interpret all commercial terms and abbreviations used herein and which have not been otherwise defined, the rules of 'INCOTERMS 2000' shall be applied.

Prices

Price(s) as agreed between the Seller and the Buyer are inclusive of the labour charges

The Seller shall under no circumstances be liable for any costs, charges, and liabilities of whatsoever nature arising subsequent to the delivery /loading of the Goods/Items on board the vessel on the basis of CFR Port, such as port dues, taxes including income tax, customs duties, unloading and handling charges, levies and fees, if any, of whatsoever nature and kind payable or leviable at the time of or by reason of importation of the Goods/Items in the country of import.

Inspection

The Goods/Items will be inspected at the load port prior to loading by a Pre-shipment Inspection Agency, mutually acceptable to the Seller and the Buyer. The Inspection Certificate shall certify

(a) That the Goods/Items were inspected at the load port prior to loading and the markings were as per the requirements of the Agreement between the Seller and the Buyer

(b) Total number of pieces / bundles/ packets and weight in respective measures of the Item.

(c) That the Goods/Items loaded on board the vessel are without apparent damage, properly lashed and secured inside the hatches/ holds of the vessel.

The cost of such Pre-shipment Inspection at the load port shall be borne and paid for by the

Seller.

Delivery/Shipment

The shipment schedule will be subject to the condition that

Within 15 Days after receipt of full payment thru Telegraphic Transfer in the favour of Seller.
Or

The Seller is in possession of the Letter of Credit satisfactory in all respects to the Seller, within the time schedule.

*Shall be decided as per terms of Contract between the Seller & Buyer.

Risk and Title

With respect to each shipment, the risk shall pass from the Seller to the Buyer as soon as the Goods/Items cross the ship's rails at the port of loading and the title to the Goods/Items shall pass from the Seller to the Buyer only after the Seller has negotiated the documents and has received payment of the full invoice value of the Goods/Items shipped.

Right of Transfer

Neither the Buyer nor the Seller shall be entitled to assign or transfer contract resulting from

this Agreement except to its successor or permitted assignee/ s and in the case of any such assignment or transfer, the contract shall be binding upon such successor or transferee.

Modification of the Contract

This Agreement cancels/ supersedes all previous negotiations/ agreements between the parties hereto. There are no understandings or agreement between the Buyer and the Seller which are not fully expressed herein and no statement or agreement, oral or written, made prior to or at the signing hereof shall affect or modify the terms hereof or otherwise be binding on the parties hereto. No change in respect of the contract covered by this Agreement shall be valid unless the same is agreed to in writing by both the parties hereto specifically stating the same to be an amendment to this Agreement.

Waiver

Failure to enforce any condition herein contained shall not operate as a waiver of the condition itself or any subsequent breach thereof.

Force Majeure

If the Seller and/or the Buyer be prevented from discharging its or their obligation under this Agreement by reason of arrests or restraints of Princes or Rulers, Government of People , War, Blockade, Revolution, Insurrection, Mobilization, Strikes, Riots, Civil Commotion, Lock Outs, Accidents, Acts of God, Plague or other epidemics, destruction of the Goods/Items by fire or flood or other natural calamity or on account of any other cause beyond the Seller's or the Buyer's control and interfering with the production and/or delivery of the Goods/Items as herein above contemplated, the time for delivery shall be postponed by the time or times during which production and/or delivery is prevented by any such causes as herein above mentioned, provided that in the event of such delay exceeding ninety days, the party other than the party which invokes the force majeure may at their option, cancel this Agreement by Notice in writing to the other party in respect of the undelivered quantity of the Goods/Items without, however, any right against or being responsible to the other party for such cancellation. The party invoking force majeure shall within 15 days of the occurrence of force majeure causes, put the other party on notice, supported by certificate from the Chamber of Commerce or concerned governmental authority and shall likewise intimate the cessation of such causes. If the force majeure condition continues beyond a period of six months, the Seller or the Buyer may at his option cancel this Agreement by notice in writing to the other party in respect of the undelivered quantity of the Goods/Items without, however, any right against or being responsible to the other party for such cancellation.

Legal Interpretation

This contract shall be governed and construed in accordance with the Laws of India for the time being in force.

Settlement of Disputes

All disputes or differences whatsoever between the parties hereto arising out of or relating to the construction, meaning or operation or effect of this contract or the breach thereof shall unless amicably settled between the parties hereto, be settled by arbitration in accordance with the Rules of Arbitration of the Indian Council of Arbitration (lCA) ,New Delhi, India by a sole Arbitrator appointed by the Arbitration Committee of the Indian Council of Arbitration, New Delhi, India and the Award made in pursuance thereof shall be binding on both the parties. The venue for the arbitration proceedings shall be New Delhi, India.

Import/ Export License

It shall be the responsibility of the Seller to arrange export license(s), if any, required and it shall be the responsibility of the Buyer to arrange for the import license(s), if required, in the country into which the Goods/Items are intended to be imported.

General Clause

It is expressly understood and agreed by and between the Buyer and the Seller that the Seller is

entering into this Agreement solely on its own behalf and not on behalf of any other person or entity. In particular, it is expressly understood and agreed that the Government of India is not a party to this Agreement and has no liabilities, obligations or rights hereunder. It is expressly understood and agreed that the Seller is an independent legal entity with power and authority to enter this contract solely in its own behalf under the applicable laws of India and general principles of Contract Law. The Buyer expressly agrees, acknowledges and understands that the Seller is not an agent, representative or delegate of the Government of India. It is further understood and agreed that the Government of India is not and shall not be liable for any acts, omissions, commissions, breaches or other wrongs arising out of the contract.

Accordingly, the Buyer hereby expressly waives, releases and foregoes any and all actions or claims including cross claims, impleader claims or counter claims against the Government of India arising out of this contract and covenants not to sue the Government of India as to any manner, claim, and cause of action or thing whatsoever arising out of or under this Agreement.

Change in Destination

The contracted cargo has to be taken to the designated station only. Any change in destination shall be made through a formal agreement to this Agreement and on the mutually agreed terms and conditions.

FOR AND ON BEHALF OF THE SELLER

M/S LEVANTAR TRADE PRIVATE LIMITED

47, Adchini Village

South Delhi 110017

SIGNATURE

NAME

DESIGNATION

PLACE

DATE

FOR AND ON BEHALF OF THE BUYER

M/S_____________________________

SIGNATURE

NAME

DESIGNATION

PLACE

DATE