Terms of Service
Standard International B2B trade parameters for seafood sourcing.
1. Contractual Basis (CIF / FOB / CFR)
All quotations generated through our Sourcing Quote Wizard represent indicative pricing. Binding contractual agreements are formalized exclusively via a signed Proforma Invoice (PI) detailing specific Incoterms 2020 parameters (such as CIF Port of Shanghai, FOB Kolkata, or CFR Port of Singapore).
2. Letter of Credit & Payment Schedules
Unless explicitly negotiated otherwise, standard payment terms require either:
- 30% telegraphic transfer (T/T) deposit with 70% payable against a clean Bill of Lading scan.
- 100% Irrevocable Confirmed Letter of Credit (L/C) at sight issued by an approved top-tier international bank.
3. Product Tolerances & Inspection Disputes
Due to the biological nature of marine catches, standard industry weight tolerances apply: +/- 5.0% on net weight, +/- 2.0% on glazing percentage, and +/- 10% on sizing piece count calibration. Any quality disputes must be lodged with third-party inspection certificates (e.g. SGS, Bureau Veritas) inside 14 calendar days from vessel discharge.
4. Force Majeure & Port Demurrage
BASU is not liable for transport delays associated with vessel blank sailings, container roll-overs, or extreme weather conditions along the maritime route. Buyers are solely responsible for local port customs processing and demurrage charges incurred after cargo landing.