Payment Terms – Frutana

PAYMENT TERMS, PRICE CONDITIONS & LIABILITY

Last Updated: 10 December 2023

1. PRICE VALIDITY

The quoted price is valid for three (3) days from the date of issuance. After this period, prices are subject to change without prior notice based on market conditions.

2. PRICE CONFIRMATION

Price will only be fixed upon receipt of the agreed advance payment. Until payment is received, all prices remain indicative and subject to change.

3. PAYMENT TERMS

Payment terms are strictly as indicated in this Proforma Invoice. No order will be confirmed, processed, or shipped unless the buyer complies fully with the payment structure stated herein. Any deviation or delay in the agreed payment terms shall result in suspension of the order and may lead to additional costs or cancellation without liability to the seller.

4. PAYMENT CONFIRMATION

Any proof of payment (SWIFT copy, screenshot, or bank advice) shall not be considered as confirmation until funds are credited to seller’s bank account.

5. DOCUMENT RELEASE

No shipment documents (including Bill of Lading) will be released under any circumstances until full payment is received and confirmed.

6. PRICE ADJUSTMENT

Due to market volatility of fresh produce, final price may be adjusted at the time of loading. Any increase in price shall be borne by the buyer.

7. PRICE FAIRNESS

In case of market decrease, seller may, at its sole discretion, adjust the price.

8. FINAL INVOICE

The final commercial invoice shall prevail and may reflect any price adjustments, market variations, or additional costs incurred at the time of loading.

9. OWNERSHIP OF GOODS

Ownership of goods shall remain with the seller until full payment has been received.

10. PAYMENT DELAYS

Any delay in payment entitles the seller to charge all resulting costs, including but not limited to:

Demurrage
Storage
Container detention
Booking amendments or cancellation fees

11. PRODUCTION & LOGISTICS COSTS

Once order is confirmed, all resources are committed. Buyer shall bear costs of cartons, packaging materials, plastic, farm allocation, labor, and operations if payment is delayed or order is not fulfilled.

12. PRICE DIFFERENCE

Any increase in market price caused by payment delay shall be fully borne by the buyer.

13. ANNUAL CONTRACT DEFAULT

For buyers under annual contracts, failure to comply with weekly payment obligations, especially during periods of high market prices, shall result in automatic cancellation of the contract price, and the applicable price shall revert to the prevailing spot market price.

14. ABANDONMENT OF CARGO

If buyer fails to complete payment or collect cargo, seller reserves the right to resell the cargo without notice. All losses and additional costs shall be invoiced to the buyer. Seller shall not be held responsible for cargo abandoned at destination.

15. ADDITIONAL CHARGES

Seller reserves the right to invoice any administrative, operational, or handling costs resulting from delays, changes, or cancellations caused by the buyer.

16. ADDITIONAL INVOICING

All penalties, losses, and additional costs will be invoiced separately and must be paid immediately.

17. BANK CHARGES

All bank charges, including intermediary fees, are to be borne by the buyer.

18. FRAUD PREVENTION

Seller is not responsible for payments made to incorrect bank accounts. Only payments made to officially confirmed accounts are valid.

19. SHIPMENT CONDITION

Seller reserves the right to delay or cancel shipment if payment is not received on time, without liability.

20. HOLIDAYS & PAYMENT OBLIGATIONS

Seller shall not be responsible for public holidays in the buyer’s country. In such cases, payment must be made in advance (minimum one week or as formally agreed).

21. DESTINATION CHANGE

Any request to change the destination after shipment shall result in all related costs being fully charged to the buyer. Such payments are non-refundable.

22. INTERMEDIARY DISPUTES

Seller shall not be held responsible for any disputes arising between the buyer and any intermediary, agent, or third party.

23. NO LIABILITY

Seller shall not be responsible for delays caused by banking systems, suppliers, logistics issues, or any circumstances beyond seller’s control.

24. LEGAL ENFORCEMENT

All obligations are legally binding. Seller reserves the right to involve international credit insurance entities (e.g., Coface) to recover outstanding amounts.