,
International Goods Trading Contract (FOB Clause)
This agreement is made this __ day of ___, 20__, by and between _____ (herein referred to as Seller) of _________, and _______ (herein referred to as Buyer) of ____________ (herein collectively referred to as the “Parties”).
Background
Seller and Buyer have agreed to enter into a transaction for the sale and purchase of international goods as hereafter provided.
Contract Terms and Conditions
1. Definitions
1.1 The “Goods” shall mean whatever products the Seller is selling to the Buyer.
1.2 The term “FOB” means that the Goods shall be readied for shipment at the Seller’s loading dock and are placed in the custody of the Buyer after a successful inspection of the Goods has been performed.
1.3 The term “Buyer” shall refer to the party who is acting as the buyer of the Goods.
1.4 The term “Seller” shall refer to the party who is acting as the seller of the Goods.
2. Performance
2.1 Seller shall perform all obligations as specified in this agreement in accordance with all laws and regulations applicable to the Seller and Buyer.
2.2 Seller shall be responsible for the delivery of the Goods in good order and condition.
2.3 Seller shall provide the Buyer with any documentation required for customs clearance.
2.4 Seller shall inform the Buyer of any restrictions, including customs clearance prior to shipment.
3. Payment
3.1 The Buyer agrees to pay the full price for the Goods upon successful delivery and inspection of the Goods.
3.2 The payment method must be mutually agreed upon and approved by both the Seller and Buyer.
4. Delivery
4.1 Seller shall make all necessary arrangements for the delivery of the Goods in the agreed upon manner.
4.2 The prevailing FOB Incoterm applies in this transaction, unless otherwise agreed upon.
5. Risk of Loss
5.1 Risk of Loss will transfer from Seller to Buyer upon delivery at the agreed upon destination.
5.2 Buyer shall take all necessary steps to ensure the safety of the Goods once it is transferred.
6. Warranty
6.1 Seller shall provide a warranty for a period of one year from the date of delivery, covering all manufacturing defects, material and workmanship.
6.2 In the case of any warranties being provided, they are only applicable to the original purchaser and cannot be sold, transferred or assigned.
7. Dispute Resolution
7.1 The Parties shall attempt to settle any disputes in good faith.
7.2 Any disputes that cannot be settled amicably shall be referred to and resolved in accordance with the exclusive jurisdiction of courts at the Seller’s place of business.
8. General
8.1 This Agreement is binding on the Parties and shall be in full force and effect until terminated as provided herein.
8.2 This Agreement shall be interpreted and enforced in accordance with the laws and regulations of the Seller’s place of business.
9. Amendments
9.1 This Agreement may be amended at any time upon the written consent of the Parties.
10. Entire Agreement
10.1 This Agreement supersedes all prior agreements, oral or written, and constitutes a complete and exclusive statement of the terms of the agreement between the Parties with respect to the Goods.
Signed and Agreed to:
Seller ______________________
Buyer ______________________
Date: ________________________