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| Our Terms and Conditions |
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| 1. Letter of Credit Negotiations - Letter of credit documents (for payment negotiation) will be submitted by the Company to any advising bank where the original letter of credit states negotiation is restricted. If the original letter of credit states negotiation of documents is “freely negotiable” (or otherwise states the negotiation is not restricted to the advising bank) the Company will submit documents to the advising bank or any negotiating bank that offers better services and reasonable bank fees, unless Customer gives prior notice otherwise directing the negotiation of documents. This notice will be kept on file for all negotiations. |
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| 2. Quotations - All fees charged by the Company are printed and available upon request. The fees are subject to change without notice. |
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| 3. Duty to Furnish Information - The Company assists with bank transaction payments, such as letters of credit and direct collections (sight drafts/ cash against documents) by way of document preparation and assisting with communication between the Customer, forwarding agent, buyer (applicant) and the bank. It is the Customer’s responsibility to provide information required to complete bank documentation in compliance with all current bank regulations, export regulations and with import regulations of destination country. If the information or documents furnished by the Customer are inaccurate or incomplete, the Company shall be obligated only to use its best judgment in connection with the transaction and in no instance shall be charged with the knowledge by the Customer of the true circumstance to which such inaccurate, incomplete or omitted information of documents pertains. Payment negotiation cannot be completed by the Company on behalf of the Customer until such inaccurate, incomplete or omitted information or documents have been resolved by the Customer. The Customer shall indemnify and hold the Company harmless for any consequence caused by inaccurate, incomplete or omitted information or documents provided by the Customer to the Company. The Customer shall be bound by and warrant the accuracy of all information and documents furnished to the Company for the purpose of assisting with bank transaction negotiations. The Customer agrees to indemnify and hold harmless the Company against any increased bank fees, fines, penalties or expense including attorney’s fees resulting from any inaccurate, incomplete or omitted information or documents provided by Customer to Company, including failure to make timely presentations to negotiating bank, even if not due to any negligence of the Customer. Customer is requested to sign a limited power of attorney (click here for power of attorney). If the customer chooses to send documentation by fax, email or courier to Company, without signing this document, the customer has given same permissions and abilities as if the power of attorney has been signed. |
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| 4. Limitations of Liability - (a) The Customer agrees the Company shall only be liable for any delay in payment caused by Company type error. Company shall not be held liable for negligence or fault due to any delay caused by third party (such as forwarding agent/ consulate/ inspection company/ bank). Liability shall be limited to the amount charged by courier to correct the type error or amount charged by negotiating bank for discrepancy, upon request. (b) Buyer (applicant) is ultimately responsible for payment of goods received. Customer agrees the Company shall, in no event, be liable for consequential, punitive, statutory or special damages in excess of the monetary limit provided for in (a) above. |
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| 5. Presenting Claims - Company shall not be liable under paragraph four (4) for any claims not presented to it in writing within ninety (90) days of date of negotiated documents giving rise to the claim. No suit to recover for any claim or demand hereunder shall be maintained against the Company unless instituted within six (6) months after the presentation of the said claim or such longer period provided for under stature(s) of the state having jurisdiction of the matter. |
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| 6. Advancing Money - The Company shall not be obliged to incur any expense, guarantee payment or advance any money in connection with services rendered by the Company on behalf of the Customer. |
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| 7. Compensation of the Company - The compensation of the Company for services rendered may include, besides regular processing fees, other fees pertinent to the referenced transaction. |
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| 8. The Responsibility for Government Requirements - It is the responsibility of the Customer to know and comply with all requirements (including marking) of U.S. Customs and Border Protection, the regulations of the U.S. Food and Drug Administration, any other pertinent U.S. Government agency, U.S. export regulations, import regulations of the destination country and all other requirements pertaining to the merchandise. The Company shall not be responsible for action taken or fines or penalties assessed by any government agency against the shipment (or shipment documents) because of the failure of the Customer to comply with the law or requirements or regulations of any government agency or with a notification issued by any such agency.
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| 9. Loss, Damage or Expense Due to Delay - Unless the services to be performed by the Company on behalf of the Customer are delayed by reason of negligence or other fault of the Company, the Company shall not be responsible for any loss or expense incurred by the Customer because of such delay. In the event the Company is at fault, as aforesaid, its liability is limited in accordance with the provisions of paragraphs 4-5 above. |
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| 10. Construction of Terms and Venue - The foregoing terms and conditions shall be construed according to laws of the state(s) where Customer and Company reside. Unless otherwise consented to in writing by the Company, no legal proceeding against the Company may be instituted by the Customer, or its assigns, accept in the City shown on the reverse side hereof.. |
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