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Payment Condition |
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(A) By an irrevocable letter of credit at sight. And/or
(B) Telegraphic Transfer(T/T) in advance before shipment.
※ All charges out of Korea related to above payment are
on buyer's account, unless otherwise stipulated. |
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Shipment |
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- Partial shipment and/or trans-shipment shall be permitted,
unless otherwise specified.
- Seller shall not be responsible for non-shipment or
late shipment in whole or in part due to a cause or causes
such as prohibition of export, suspension of issuance
of export license or other governmental restrictions,
Act of God, war, blockade, revolution, insurrection, mobilization,
strikes, lockout, civil commotions, riots, epidemics,
destruction of the goods by fire, typhoon or flood, or
due to any other cause or causes beyond seller's control.
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Insurance and Freight
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- In case of CIF basis, 110% of the invoice amount shall
be insured, unless otherwise agreed. |
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Inspection |
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- Mill's inspection shall be as final, unless otherwise
stipulated. |
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Packing, etc. |
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Packing, marking, make-up, stamping and ticketing shall
be at seller's option, unless otherwise requested by buyer.
Seller accepts no responsibility for consequences caused
by the late arrival of buyer's instructions.
- Normal packing method is individual neutral packing,
unless otherwise requested by buyer.
- If the buyer request their own packing, and/or labelling,
marking and/or others specially, please be so kind enough
to contact us and get confirmation in advance. |
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Arbitration |
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- All disputes, controversies, or differences which
may arise between seller and buyer, out of, or in relation
to, or in connection with this contract, or for the breach
thereof, shall be finally settled by arbitration in Seoul,
Korea in
accordance with the Commercial Arbitration Rules of the
Korean Commercial Arbitration Board and under the Laws
of Korea. The award rendered by the arbitrator(s) shall
be final and binding upon both parties concerned. |
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Remarks
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- Other terms and conditions not stipulated herein will
be discussed later on by both parties. |
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