PAYMENT TERMS, PRICE CONDITIONS & LIABILITY
Last Updated: 10 December 2023
1. PRICE VALIDITY
The quoted price is valid for three (3) days from the date of issuance. After this period, prices are subject to change without prior notice based on market conditions.
2. PRICE CONFIRMATION
Price will only be fixed upon receipt of the agreed advance payment. Until payment is received, all prices remain indicative and subject to change.
3. PAYMENT TERMS
Payment terms are strictly as indicated in this Proforma Invoice. No order will be confirmed, processed, or shipped unless the buyer complies fully with the payment structure stated herein. Any deviation or delay in the agreed payment terms shall result in suspension of the order and may lead to additional costs or cancellation without liability to the seller.
4. PAYMENT CONFIRMATION
Any proof of payment, including a SWIFT copy, screenshot, or bank advice, shall not be considered as confirmation until funds are credited to the seller’s bank account.
5. DOCUMENT RELEASE
No shipment documents, including the Bill of Lading, will be released under any circumstances until full payment is received and confirmed.
6. PRICE ADJUSTMENT
Due to market volatility of fresh produce, the final price may be adjusted at the time of loading. Any increase in price shall be borne by the buyer.
7. PRICE FAIRNESS
In case of a market decrease, the seller may, at its sole discretion, adjust the price.
8. FINAL INVOICE
The final commercial invoice shall prevail and may reflect any price adjustments, market variations, or additional costs incurred at the time of loading.
9. OWNERSHIP OF GOODS
Ownership of goods shall remain with the seller until full payment has been received.
10. PAYMENT DELAYS
Any delay in payment entitles the seller to charge all resulting costs, including but not limited to:
- Demurrage
- Storage
- Container detention
- Booking amendments or cancellation fees
11. PRODUCTION & LOGISTICS COSTS
Once the order is confirmed, all resources are committed. The buyer shall bear the costs of cartons, packaging materials, plastic, farm allocation, labor, and operations if payment is delayed or the order is not fulfilled.
12. PRICE DIFFERENCE
Any increase in market price caused by payment delay shall be fully borne by the buyer.
13. ANNUAL CONTRACT DEFAULT
For buyers under annual contracts, failure to comply with weekly payment obligations, especially during periods of high market prices, shall result in automatic cancellation of the contract price. The applicable price shall revert to the prevailing spot market price.
14. ABANDONMENT OF CARGO
If the buyer fails to complete payment or collect the cargo, the seller reserves the right to resell the cargo without notice. All losses and additional costs shall be invoiced to the buyer. The seller shall not be held responsible for cargo abandoned at destination.
15. ADDITIONAL CHARGES
The seller reserves the right to invoice any administrative, operational, or handling costs resulting from delays, changes, or cancellations caused by the buyer.
16. ADDITIONAL INVOICING
All penalties, losses, and additional costs will be invoiced separately and must be paid immediately.
17. BANK CHARGES
All bank charges, including intermediary fees, are to be borne by the buyer.
18. FRAUD PREVENTION
The seller is not responsible for payments made to incorrect bank accounts. Only payments made to officially confirmed accounts are valid.
19. SHIPMENT CONDITION
The seller reserves the right to delay or cancel shipment if payment is not received on time, without liability.
20. HOLIDAYS & PAYMENT OBLIGATIONS
The seller shall not be responsible for public holidays in the buyer’s country. In such cases, payment must be made in advance, with a minimum of one week or as formally agreed.
21. DESTINATION CHANGE
Any request to change the destination after shipment shall result in all related costs being fully charged to the buyer. Such payments are non-refundable.
22. INTERMEDIARY DISPUTES
The seller shall not be held responsible for any disputes arising between the buyer and any intermediary, agent, or third party.
23. NO LIABILITY
The seller shall not be responsible for delays caused by banking systems, suppliers, logistics issues, or any circumstances beyond the seller’s control.
24. LEGAL ENFORCEMENT
All obligations are legally binding. The seller reserves the right to involve international credit insurance entities, such as Coface, to recover outstanding amounts.
25. OPERATIONAL PRINCIPLE
No Payment → No Production → No Shipment → No Document Release.