Last updated: 10/03/2026
1. SCOPE OF CONTRACT
Seller agrees to sell and Buyer agrees to purchase seafood and agrifood products of Indian origin as per specifications mentioned in Proforma Invoice / Purchase Order.
2. PRODUCT SPECIFICATION
Goods shall strictly comply with the agreed description, grade, size, packing, and applicable regulatory standards.
3. QUALITY & TOLERANCE
The Goods shall conform to the agreed specifications and standards. A tolerance of plus or minus five percent (±5%) in quality parameters including size, count, weight, and glazing shall be deemed acceptable and shall not constitute a quality or quantity claim. Quality shall be in accordance with MPEDA, HACCP, and importing country regulations.
4. PRICE & CURRENCY
Prices shall be as per agreed Incoterms® 2020 and stated in USD or other agreed currency.
5. PAYMENT TERMS
Payment shall be made by 100% Advance, or Irrevocable Letter of Credit at Sight, or other mutually agreed terms in writing. Failure to make payment entitles Seller to suspend or cancel shipment.
6. DELIVERY & SHIPMENT
Delivery shall be made as per Incoterms® 2020. Shipment schedule shall be mutually agreed. Partial shipments allowed unless otherwise stated.
7. PACKING & MARKING
Goods shall be packed in export-worthy, food-grade materials suitable for frozen/chilled transport and marked with required details.
8. DOCUMENTS
Seller shall provide Commercial Invoice, Packing List, Bill of Lading / Airway Bill, Certificate of Origin, Health Certificate, and other agreed documents.
9. INSPECTION & CLAIMS
Buyer must notify Seller of any claim within 7 days of arrival supported by surveyor’s report. Late claims shall not be accepted.
10. TRANSFER OF RISK & TITLE
Risk passes to Buyer as per Incoterms®. Title passes after full payment is received.
11. FORCE MAJEURE
Neither party shall be liable for failure or delay caused by events beyond reasonable control.
12. LIMITATION OF LIABILITY
Seller’s liability shall not exceed the invoice value of the affected goods.
13. TERMINATION
Seller may terminate this contract if Buyer fails to fulfill payment or contractual obligations.
14. CONFIDENTIALITY
Both parties shall maintain confidentiality of commercial information.
15. GOVERNING LAW & JURISDICTION
This contract shall be governed by the laws of India. Any dispute shall be subject to jurisdiction of courts in India or arbitration as mutually agreed.
16. ENTIRE AGREEMENT
This contract represents the entire understanding between the parties.
COPYRIGHT NOTICE
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