Terms of Trade & Commercial Conditions

1. Scope & Legal Framework

These Terms of Trade govern all commercial sales, pro-forma invoices, purchase orders, and cargo consignments executed by Hasoon General Trading, in operational coordination with partner companies Hasoon Logistics (www.hasoonlogistics.com) and Hasoon Arabia (www.hasoonarabia.com).

2. Quotations & Incoterms 2020

All international quotations issued by Hasoon General Trading adhere strictly to the International Chamber of Commerce (ICC) Incoterms 2020 rules:

• CIF (Cost, Insurance & Freight): We cover freight and marine insurance to the designated destination port (e.g., CIF Jebel Ali, CIF Dammam). Risk passes upon cargo loading onto the carrying ocean vessel at the origin port in India.
• FOB (Free on Board): Buyer designates the carrier vessel and covers ocean freight. Hasoon delivers cleared cargo on board at departure docks (e.g., FOB Cochin, FOB Nhava Sheva).
• CFR / Ex-Works: Available upon specific mutual commercial agreement for specialized industrial and project commodities.

3. Quality Warranties & Pre-Shipment Inspection

Goods supplied conform strictly to agreed technical tolerances (e.g., ASTM A36 for steel beams, EN 197-1 for Portland cement, active percentage certifications for agrochemicals). Buyers are entitled to appoint an independent inspection agency (e.g., SGS, Bureau Veritas) at origin departure ports prior to container sealing.

4. Payment Terms & Financial Security

Standard transaction settlement is structured as:

• Letter of Credit (LC): Irrevocable, confirmed LC payable at sight upon presentation of clean on-board Bill of Lading, Certificate of Origin, and Mill Test Certificates.
• Telegraphic Transfer (TT): Contractual advance deposit with balance payable against verified copy of shipping documents and dock weighbridge slips.

5. Force Majeure & Maritime Delays

Neither party shall be held liable for failure or delay in performance caused by maritime canal closures, severe sea storms, regional embargoes, port strikes, or statutory changes in export/import tariffs beyond reasonable operational control.

6. Governing Law & Arbitration

Unless otherwise specified in a bilateral signed contract, agreements shall be interpreted in accordance with Dubai International Financial Centre (DIFC) commercial arbitration guidelines or Indian commercial courts depending on contractual jurisdiction.