General Conditions of Purchase

General Conditions of Purchase

These General Conditions of Purchase are applicable to any person, company, or organization that has accepted our interest or expressed interest to sell or trade products, materials, or services. By engaging in any correspondence of trade or communication until the completion of a contract, the seller is bound by these conditions. Any conflicting or contradictory communications or correspondence are considered null and void.

1. Purchase Orders and Contractual Agreements

1.1. Limited Validity: All Purchase Order Export documents are valid for a limited period and may be withdrawn with written or verbal prior notice to the receiver (seller/agent). Zenith Global Trading LLC or its representatives shall not be held liable under any circumstances whatsoever for loss of trade or business to the receiver due to the expiry or withdrawal of such an order.

1.2. Contract Formation: A Purchase Order Export constitutes a binding contract between Zenith Global Trading LLC and the specified supplier only upon the fulfillment of all conditions mentioned within the document and these General Conditions of Purchase. These conditions shall be applicable on all correspondence of trade and communication until the completion of the contract.

1.3. Alterations: Any alteration, amendment, addition, or subtraction of product, price, quality, quantity, delivery condition, or payment condition is subject to our written intimation and explicit acceptance.

2. Weight, Delivery, and Ownership of Goods

2.1. Invoicing Basis: Unless otherwise explicitly agreed upon, all invoices shall be based on the weight of the goods on departure.

2.2. Loading Weight: Partial deliveries and any difference in loading weight greater than plus/minus 10 percent of the contractual quantity is subject to our written acceptance.

2.3. Transfer of Ownership: Ownership of goods, including full legal and beneficial ownership, shall be treated as transferred to the buyer as soon as the payments for the contract have been made by us. The seller holds no rights to resale, release, destroy, move, transport, ship, export, use, reuse, or alter the goods without our written consent or instructions.

3. Seller’s Responsibilities and Liabilities

3.1. Safe Custody: It is the unsaid responsibility of the seller to keep the agreed-upon goods in safe custody until the buyer prepares the arrangement for export, movement, or storage.

3.2. Proper Packing and Loading: The seller is responsible for packing, baling, and arranging the goods in an exportable and transportable condition, with due consideration for all weather and natural conditions. The supplier is also responsible to load the material properly for transit. Any extra cost, damage, or loss arising due to improper loading shall be on the supplier’s account.

3.3. Legal Compliance: It is the seller’s moral, ethical, and commercial responsibility to make us aware of any local or state laws and regulations relating to the purchase or movement of the goods, particularly waste products. We will not be held liable under any circumstances if the supplier is not registered or in compliance with such laws.

3.4. Damage or Contamination: Any contamination, damage, destruction, or theft to the contracted goods or services may lead to the termination of the contract. In such a case, the supplier agrees to bear and make good of all the trade losses of the contract.

3.5. Misrepresentation: The supplier must provide a fair presentation of the material and all relevant information. Any misrepresentation may lead to contract termination, and the supplier will be responsible to compensate all the cost arising due to quality issues. The mere presence of our representative at the time of loading does not necessarily relieve the seller from the quality issues which may arise at a later stage.

4. Financial Terms

4.1. Price Renegotiation: We reserve the right to renegotiate the contract price under any of the following circumstances:

Additional or sudden imposition of extra costs, surcharges, or duties arising out of a change of policy of the Government (of the exporting, transshipping, or importing country), an Insurance Company, or a Shipping Line.

Additional freight costs or insurance premiums arising due to a war-like situation or national or international emergency.

Imposition of a sudden increase in insurance premiums on all ships calling at the port or in their area.

4.2. Banking Charges: We will bear only the banking charges of our bank. Any loss of pay due to the deduction of banking charges, currency conversion (after the payment), or the supplier’s bank’s banking charges will be on the account of the supplier only.

4.3. Non-Performance: If the supplier is not able to deliver the goods as per the contract, we reserve the right to be compensated for all the loss, cost, and consequence which has arisen or may arise due to the non-performance of the contract. The advance paid in such a course must be returned to the buyer along with an interest of 12% per annum till the date of realization.

5. Representations, Disputes, and Governing Law

5.1. Prohibited Use of Brand Name: Under no circumstance (even expressed or agreed) can the supplier promote, use, or display directly or indirectly the brand name, signature, logo, or style of Zenith Global Trading LLC as their trusted partner, customer, loyalist, supporter, promoter, agent, or any such title. Using our name and style may lead to an investigation under serious criminal offense and a breach of trust and contract.

5.2. Dispute Resolution: In case of a discrepancy or dispute, both parties must first attempt an amicable settlement. If a settlement cannot be reached, the buyer will appoint an independent surveyor. In the case of a justified claim, the seller should compensate the buyer for the value of the goods along with the cost of transport, duties, taxes, storage, and processing charges which the buyer has borne on the contract. Our management’s (in the absence of a surveyor) or the surveyor’s decision will be final and binding regarding claim settlement.

5.3. Legal Jurisdiction: Unless otherwise expressed and agreed, all litigation shall be subjected to the exclusive jurisdiction and competence of the Courts of Law of the United Arab Emirates. All Laws, By-laws, Rules, and Regulations of the UAE Law shall be applied. This competence clause shall prevail over all other clauses retained in whatever document exchanged between parties.

6. Force Majeure

The buyer shall be released from his obligation to fulfill this contract in case of natural calamity or unforeseen events such as a strike, lock-out, transportation blockage, war blockage, national emergency, riots, financial failures of a shipping line or importing countries, terrorist attacks, flood, frost, interruption to or lack of transportation, or government regulations, irrespective of whether these circumstances affect the seller or his suppliers.

7. Ethical Conduct

We are committed to, and promote, the highest standards of integrity and ethical behavior. We will not accept any level of fraud, corruption, or other irregularities committed by parties having a business relationship with us. If we discover or become aware of allegations of fraud, corruption, or other irregularities, we reserve the right to investigate such allegations thoroughly and, if required, we can take appropriate action to safeguard the best interests of Zenith Global Trading LLC or its employees.