[TERMS & CONDITIONS] [NCNDA] [DRAFT LOI/BCL] [DRAFT FCO] [DRAFT CONTRACT] [DRAFT FPA] [INCOTERMS]


WFB World Food Business

TERMS & CONDITIONS OF APPOINTMENT - TRADING PROCEDURES

You agree:  To provide true, accurate, current and complete information which you are required to provide when you use our services.   You agree to notify us immediately of any changes to the User Information. You agree not to impersonate any other person or entity or to use a false name or a name that you are not authorised to use.

Your Obligations:   You will supply to us in writing the full information regarding the service that you require us to represent on your behalf, this will include but not be limited to, full specifications, pricing structures, market trends, addresses, phone numbers, contact names, your company details, your billing details, product images, public liability insurance cover, indemnities, stock availability, copy invoices, brochures, written agreement as to our charges and any other documentation relevant to the assignment.

You Will:  Settle us invoice within a maximum of 7 days after the date that you have delivered your product/service and been paid by the client or within a maximum of 7 days after the completion of any project for the agreed amount as set out in writing between us at the commencement of the project.  Payment to be by way of Telex Transfer into our bank account.  The common currency to be used for all transactions is $US unless otherwise agreed in writing.

You Will:  Not do anything to bring either us or our client Company into disrepute or leave us open to any form of legal process, you will indemnify us against all and any such possibilities.

You Will: Never portray this agreement to be anymore than an agreement for us to act as your representative in any one given project and never permit this agreement to be seen as a partnership of any form.

You Acknowledge:  That the responsibility for arranging payment by the client Company to yourselves is yours and that short of assistance in collating information to enable you to make the necessary arrangements for receiving payment, our input in this area will be minimal.

----------------------------------------------------------

We  Agree:  To provide true, accurate, current and complete information which you would require to provide us with information when you use our services.   I agree to notify you immediately of any changes to the User Information. I agree not to impersonate any other person or entity or to use a false name or a name that I am not authorised to use.

Our Obligations:  I will supply to you in writing the full information regarding the service that you require us to represent on your behalf, this will include but not be limited to, full specifications, pricing structures, market trends, addresses, phone numbers, contact names, or company details, our billing details, product images, public liability insurance cover, indemnities, stock availability, copy invoices, brochures, written agreement as to our charges and any other documentation relevant to the assignment.

We Will:  Invoice you on the date that you have delivered your product/service and been paid by the client to enable you to pay us within a maximum of 7 days after the completion of any project for the agreed amount as set out in writing between us at the commencement of each project.   Payment to be by way of Telex Transfer into our bank account.  The common currency to be used for all transactions is $US unless otherwise agreed in writing.

We Will:  Not do anything to bring either you, your client or Company into disrepute or leave you open to any form of legal process, I will indemnify you against all and any such possibilities.

We Will: Never portray this agreement to be anymore than an agreement for us to act as your representative in any one given project and never permit this agreement to be seen as a partnership of any form.   When corresponding with other Clients, I will always refer to yourselves as 'Our Client Company'.

We  Acknowledge:  That the responsibility for arranging payment by the Client Company to yourselves is yours and that short of assistance in collating information to enable you to make the necessary arrangements for receiving payment, our input in this area will be minimal.

We Guarantee: That I will always represent you and your Company in a professional, signified and diligent manner and that I will never commit you or your Company to any financial expenditure for whatsoever reason.  I further Guarantee that, I will when representing you or your Company not accept another assignment from any other source where it is shown that their product or service conflicts or competes with yours.

----------------------------------------------------------

WFB Trading Procedures

WFB follows United Nations International Trade Procedures for the Sale of Goods. The following is a summary:

1. Sales quotation request by fax or e-mail to
WFB If price and terms are accepted by the Buyer, WFB will sign an NCND Agreement to protect the business and your commissions.

2. The Buyer issues a signed and a stamped
LOI (Letter of Intent) on the Buyers letterhead and (if required by the Seller) BCL - (Proof of funds) on Buyer's Bank’s letterhead which must be faxed to WFB for further negotiations. Pre Fee Agreement for a prospective contract ( draft contract ) with the Buyer can be sent for signature to WFB.

3. The Seller will then issue a
FCO (Full corporate offer).

4. The Buyer returns the signed
FCO to the Seller.

5. The Seller then issues a contract with full banking details.

6. The Buyer returns the contract to the Seller.

7. After confirmation of funds and product, Buyer's Bank opens Non- Operative or Pre-advise Letter of Credit. Seller's Bank activates Letter of Credit by posting Performance Bond in favour of the Buyer. (Only applicable to large shipments, this is to be advised)

After opening the Letter of Credit by the Buyers' Bank all intermediary commissions will be protected by Agent Fee Agreement.

8. Shipments commence as per contract.

9. Seller usually pays for Inspection at loading port.

NOTE: These procedures may vary depending on the product, quantities and/or the Suppliers.

----------------------------------------------------------

INCOTERMS

BELOW YOU WILL FIND SOME OF THE MOST COMMON ONES THAT YOU MAY COME ACROSS

WHAT DO THEY MEAN ?

EXW - Ex Works

A delivery term where the Seller's only responsibility is to make goods available at his own premises.

He has no responsibility for loading the goods.

The Buyer bears the full cost and risk in transporting the goods from there to the final destination.

FAS - Free Alongside Ship

The Seller's obligations are filled as soon as the goods have been placed alongside the ship on the quay.

The Buyer bears all the costs and risks from then on.

FCA - Free Carrier ( Named Place )

The seller's obligation is met when the goods are transferred into the custody of the Carrier.

The risk transfers from the Seller to the Buyer at this point.

" CARRIER" is defined as "any person by whom or in whose name a contract of carriage by road, rail, air, sea or a combination of modes has been made".

FOB - Free on board

The Seller puts the goods on board the ship, at the port of shipment named in the contract.

The risk transfers to the Buyer as the goods pass over the ship's rail at the Port of Loading.

CFR ( CNF/CXF/C&F ) - Cost & Freight

The Seller pays the Cost & Freight of the goods to the named Port of Destination.

The risks are the Buyer's responsibility from when the goods pass over the ship's rail at the Port of Loading.

CIF - Cost Insurance & Freight

Similar to CFR but here it is the Seller's duty to arrange all the insurance on behalf of the Buyer and pay the premium.

CIP - Carriage & Insurance Paid To ( Named Destination )

The Seller now has to obtain Insurance to cover all risks to the Named Destination.

CPT Carriage Paid To

The Seller pays the freight for the carriage of the goods to the Named Destination.

The risk transfers to the Buyer when the goods are in the custody of the first carrier.

DAF - Delivery At Frontier ( To Named Place)

The Seller's obligation end when the goods have arrived at the Frontier but before entering the Customs process at the Country named in the contract.

DDP - Delivered Duty Paid

The Seller's obligation is to pay ALL charges involved in delivering the goods to the buyer.

DDU - Delivered Duty Unpaid

The Seller pays all costs involved in delivering the goods to the Buyer, with the exception of import duty, taxes and any other official charges levied at importation.

DES - Delivered Ex Ship

The Seller is responsible for all charges to deliver the goods to the Port of Destination named in the contract.

The risk transfers to the Buyer on board ship.

DEQ - Delivered Ex Quay ( Duty Paid )

The Seller makes the goods available to the Buyer on the quay at the Port of Destination named in the contract,then the risk transfers to the Buyer.

WWWD/PWWD - Weather Working Week Day

This variation is one that is used to describe the discharge rate at the destination port. The daily discharge rate is entered in the contract.

----------------------------------------------------------

Back to main HomePage

Hosted by www.Geocities.ws

1