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| Owner |
Tariff ID |
Rule |
Sub-Rule |
Filed |
Effective |
Expires |
| 019075 |
001 |
007 |
000 |
02-15-2005 |
02-15-2005 |
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RULE 7 - PAYMENT OF FREIGHT CHARGES
Except as may be provided elsewhere in this tariff, the
following rules on the payment of freight and charges shall
apply:
A. For the purpose of this rule, the term freight when
used in this rule shall refer to commodity freight
rates and all other charges and accessorials set forth
in the commodity items or rules of this tariff.
B. Except as otherwise provided in this rule, freight and
charges shall be prepaid not later than the time of
release of any original Bill of Lading by the carrier
to the shipper or his duly authorized licensed freight
forwarder or agent acting in his behalf.
C. When freight and charges are prepaid, carrier must
receive payment of freight in U.S. Dollars or other
convertible currency based on the highest (numerical)
telegraphic transfer selling rate of exchange (TTS)
for U.S. Dollars as quoted by the official foreign
exchange bank on:
1. Intermodal Cargo: (as defined in Rule 2)
The day before receipt of full bill of Lading
quantity of cargo at carrier's designated
terminal when "received" bills of lading, without
"on board" date notation, are first issued.
2. All Water Cargo:
The day before vessel's arrival when "Shipped on
Board" Bills of Lading are issued.
D. Cargo on which no release of original Bill of Lading
has been made by the carrier to the shipper or his
agent prior to the cargo's arrival at the bill of
lading destination will be held by the carrier at the
bill of lading destination until all freight and
charges are paid or the original bill of lading has
been released to a shipper with a credit approval from
the carrier.
E. Extension of Credit:
Carrier may extend credit to a shipper designated on
the bill of lading for freight and/or charges to be
paid at origin for a period not to exceed fifteen (15)
calendar days inclusive of Saturdays, Sundays, and
legal holidays, after the date of receipt of cargoes
at the respective place of receipt by the carrier.
Carrier will extend credit to shippers having six
months satisfactory payment experience with the
carrier and can furnish three satisfactory credit
references. At the time of release of the bill of
lading, the carrier must have given prior approval of
credit privileges for the shipper which has not been
suspended. Carrier does not require that a credit
agreement be signed by the shipper or consignee.
1. The shipper's credit approval shall remain in
effect from the date of written notice by the
carrier unless terminated by written notice from
carrier to other parties or by suspension for
failure to comply with the terms of this Rule, or
Carrier's Bill of Lading.
2. When carrier releases prepaid bills of lading
under the terms of the shipper's credit approval
to a shipper or his authorized representative, he
may require the shipper or his authorized
representative to acknowledge the receipt of the
bill of lading in writing. In all cases the
shipper shall be responsible for payment when a
bill of lading is released to the shipper's
freight forwarder or agent acting in his behalf.
3. It is the responsibility of the carrier to take
prompt measures to collect freight and charges
unpaid after the fifteen (15) days credit period
specified in this rule. Carrier will notify the
shipper and/or the forwarder who fails to pay
freight and charges within the fifteen (15) day
period provided herein, that no further credit
shall be extended by the carrier to the shipper
concerned and the privilege of credit shall not
be restored until all freight monies and charges,
due and owing the carrier by the shipper for a
period longer than the fifteen (15) day period
hereinabove provided, shall have been paid.
F. When freight and charges are "Collect":
Prior to release of cargo at destination, carrier must
receive payment of freight in U.S. Dollars or other
convertible currency based on the highest (numerical)
Telegraphic Transfer Selling rate of exchange (TTS)
fo U.S. Dollars as quoted by the official foreign
exchange bank on the day before receipt of such
payment.
G. Methods of Payment:
Payment for freight and/or other charges due the
carrier must be payable in legal tender or, at
carrier's option, by check or bank draft.
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