Latest Updates
X

General Contract Terms

  • Contracts are normally made on FOB or CIF basis.
  • Pricing is in US Dollars per MT. Current and forward price quotations in US $ and other currencies are available on request directly from member exporters of the Council.
  • Business is done on an offer and acceptance basis between buyers and sellers by telephone, email, telex or cable, since the prices are subject to fluctuations.
  • The cost of insurance is borne by the buyer.
  • At the time of contract, the month of shipment, grade, price etc., are to be clearly indicated. Sometimes, exporters offer commodity for shipments up to six months in advance.
  • Export dealings are usually finalized on the basis of the opening of 100% irrevocable Letter of Credit payable at sight, by the buyer in favor of the shipper. The LC is opened immediately on execution of contract or one month prior to shipment

CONTACT US

captcha