Terms & Conditions
As per INCOTERMS (International Commercial Terms) GLOBADYN CORPORATION as an exporter of Indian Vegetables have the following pricing options:
A. FOB (Free On Board):
Under this contract, the responsibility and liability of our Company do not end until the goods have actually passed the ship's rail. The obligations of GLOBADYN CORPORATION and buyers under this type of contract are as under:
Obligations of GLOBADYN CORPORATION under FOB:
1. We deliver the goods on board to the vessel named by the buyer at the named port of shipment. The delivery must be in the manner, customary at that port and on the date or within the period that is stipulated.
2. We provide expenses for the customary preparation and packing suitable to the nature of the goods and to their carriage by sea or air.
3. We bear all costs payable on or for the goods until they have effectively passed the ship's rail at the port of shipment.
4. We give the buyer a proper notice of shipment of the goods so that the buyer can insure them.
5. We provide expense the customary "clear" document in proof of delivery of goods abroad.
6. We bear the cost of checking operations (ie. checking the quality, measure, weight or quantity) which are necessary for the purpose of loading the goods on board at the port of the shipment.
7. We bear the cost of all dues and taxes payable on the goods for the purpose of loading them on board.
8. We bear all risks of the goods until such time as they shall have effectively passed the ship's rail.
9. We provide the buyer the certificate of origin and other documents as per contract.
10. We render the buyer every assistance in obtaining a bill of lading and any documents or equivalent electronic messages, issued in the country of shipment or origin and which the buyer may require, to import the goods into the country of destination. The assistance will be rendered at the request, risk and expense of the buyer.
Buyer's Obligations under FOB:
1. He should charter a vessel or reserve the necessary space on board a vessel. He should also give the seller due notice of the name, and date of delivery of the goods to the vessel.
2. He must bear all costs and risks of the goods from the time when they shall have passed the ship's rail effectively at the named port of shipment. He must pay the price of the goods as provided in the contract.
3. The buyer must bear any additional costs incurred. Such costs might due to (a) failure of the vessel to arrive on the stipulated date or by the end of the period specified or (b) the buyer was unable to take the goods, or (c) closed for cargo earlier than the stipulated date or end of the period specified. In addition he has to take all the risks of the goods from the date of expiration of the period specified.
4. The buyer must pay the cost of any pre-shipment inspection except when such inspection is mandated by the authorities of the country of export.
B. CIF (Cost, Insurance & Freight):
Under this contract the duties and responsibilities seller and the buyer as mentioned below:
Obligations of GLOBADYN CORPORATION under CIF:
1. We supply the goods in conformity with the contract of sale. He must provide the necessary evidence of conformity as may be required by the contract.
2. We arrange clearance of the goods for exports.
3. We enter into contract on usual terms for carriage of the goods to the agreed port of destination in the usual route in a sea-going vessel of the type normally used for the transport of goods of the contract description. He must pay freight charges and any charges like port congestion charges, valuation charges etc. which may be levied by the shipping line at the time and port of shipment.
4. We obtain an export license or the Government authorization if necessary for the export of goods, at his own risk and expenses.
5. We load the goods at our own expense on board the ship. This must be done on the date or within the period fixed. We also notify the buyer without delay that the goods have been loaded on board the ship.
6. We bear all risks of the goods until such time as they shall have effectively passed the ship's rail at the port of shipment.
7. We furnish to the buyer a clean negotiable bill of lading for the agreed port of destination. He should also furnish the invoice of the goods shipped. The seller has to furnish these documents at his own expense.
8. We provide at own expense the customary packaging of the goods unless it is the custom of the trade to ship the goods unpacked.
9. We pay the costs of checking operations (ie. quality, measuring, weighing, counting) which shall be necessary for the purpose of loading the goods.
10. We pay the dues and taxes incurred in respect of the goods up to the time of their loading. These may also include any taxes, fees or charges levied because of exportation as well as the costs of any formalities which he shall have to fulfill in order to load the goods on board.
11. We provide the buyer, with the certificate of origin and other documents prescribed in the contract.
12. We provide the buyer on the latter's request, every assistance in obtaining any documents issued in the country of shipment which the buyer may require for the importation of the goods into the country of destination.
13. We provide insurance cover for the goods upto the destination point prescribed in the contract, We also provide the insurance certificate to the buyer.
14. We pay the costs of customs formalities and also duties and taxes on the goods for their transit through any country,
Buyer's Obligations under CIF:
1. He must accept the documents when tendered by seller if they are in conformity with the contract of sale.
2. He must receive the goods at the agreed port of destination. He should bear all costs and charges (excepting the freight and marine insurance) incurred in respect of the goods in the course of their transit by sea until arrival at the port of destination. He must also bear the expenses of unloading costs unless such costs have been included in the freight.
3. The buyer must bear all risks of the goods from the time when they shall have effectively passed the ship's rail at the port of shipment.
4. The buyer must pay all customs duties as well as other duties and taxes payable at the time of or by reason of the importation.
5. The buyer must procure and provide any import licence or permit or the like which he may require for the importation of the goods at destination. This is to be done at his own risk and expense.
6. The buyer must pay the cost of any pre-shipment inspection except when such inspection is mandated by authorities of the country of export.
We believe in Bank to Bank transfer of payment as per Reserve Bank of India (RBI) Guidelines. Other mode transfers are not entertained by us.
Advance Payment (T/T/ Wire Transfer) and
Letter of Credit (L/C) at Sight or Usance )
All payments should made to our company's Nominated Bank Account where we submit the shipping documents within 21 days from the shipment by Air or by Sea in case of all types of payment terms and conditions.
Minimum Ordering Quantity (MOQ):
Some specific Indian Vegetables are available for shipment by Air to pay an extra shipping charges of USD 100.00 per Kilogram. The MOQ in case of Air Shipment is Two Metric Tons.
One Day, Every day by Air Shipment