TRADE RULES
GGT’s STRICT RULES OF TRADE
- Seller conducting business internationally on behalf of an undisclosed principal in accordance with acceptable English Rules of Agency.
- English Language application.
- Offer once accepted is legally binding.
- Internet PDF and or facsimile documents allowed to apply up to formal contract signing time.
- Formal hardcopy of contract shall be issued by courier mail, and Transaction remains in force with PDF advised signed documents while awaiting hard copy contract return.
- The Seller may advise corrections on the Offer or Contract up to its validity date once such is advised.
- Uniform Custom & Practice for Documentary Credit issuance as per ICC publication 600 (UCP600).
- Incoterms 2010 Delivery Rules in accordance with ICC Paris, France, trademark application.
- Uniform Rules for Collection ICC publication 522 (URC522), or latest publication.
- Contract governance and contract formation rules are as per the laws of Canada
- In all matters of shipping, ‘Who is at Fault Pays Policy’ (WAFPP) applies.
- Transactional procedure schedules must be strictly applied to ensure first delivery date remains effective.
- Actual first delivery date is as advised and will be formally declared on the Contract.
- If Seller acts on the Offer even though the Buyer has breached schedule or procedures advised, all matters of first delivery PG (if applicable) are cancelled, to be revived from second delivery onwards.
- Seller is not obligated to release a third Offer without a deposit of 2.0% of first shipment value, if first or second Offers fail to be accepted on time.
- If goods are accepted and reserved earlier, a minimum 2.0% value of first shipment Deposit is required.
- Any disputes would be settled in Seller’s country, specifically in Regina, Canada, as per VCAT Tribunal or LCIA arbitration proceedings.
- Seller advises Buyer that we prefer to settle all serious issues amicably amongst ourselves, should a dispute arise, and Buyer agrees to make such efforts accordingly.
