Export Shipping & Packing Procedures
PACKING AND SHIPPING
Documentation
Proforma Invoice - to facilitate remittance of funds
Purchase Order - to be issued by the Buyer
Tax Invoice - together with the delivery
Delivery Order - together with the delivery
Bill of Lading - after shipping of goods.
Payment
30 % advance along with the Purchase order ( TT )
70% against delivery at the Loading Port ( TT or L/C )
Notes for Letter of Credit
L/C shall be at sight, irrevocable and transferable to be opened upon confirmation.
Payable 100% at the counter of the seller’s bank in Singapore against documents immediately after inspection at the port of Loading.
L/C confirmation, amendment charges if any shall be borne by the buyer
Partial Negotiation of documents is acceptable.
TT reimbursement is allowed.
Third party documents, if any, shall be acceptable.
L/C shall not call for any draft issuance. Simple receipts shall be presented
L/C negotiation validity shall be 30 days from the B/L date.
Partial Shipment and transshipment are allowed
Duties and Taxes
Customs/ Import Duty, VAT, Octroi and other taxes at the port of discharge to the account of buyer
Shipping
Buyers can arrange their own forwarders Incoterms 2000 applies.
Port of Loading to be advised after confirmation
Partial Shipment and transshipment are allowed.
Shipments in 20 foot containers
Inspection
SGS / Geochem / Equivalent Inspection Agencies can be arranged at Cost.
The goods inspected at the loading port shall be final and binding on both parties.
Delivery
FOB, CFR, CIF or As Agreed
Lead Time 30-45 days for after the receipt of final L/C OR TT
Delivery At the Port of Discharge
Terminal handling charges levied shall be borne by the buyer at the discharge port.
Any demurrage charges due to the delay in taking delivery /return to shipping company, by buyer.
Buyer shall be responsible for container mis-handling, damage or pollution at the discharge port
Insurance
For CFR Sales, Freight Insurance shall be arranged by the buyer.
Title and Risk
Title to the Goods shall pass from the seller to the buyer upon receipt of payment at the port of loading
The risk of loss or damage shall pass to the Buyer after the inspection in the Port of Loading.
Delay in Delivery ( Force Majeure )
|