Terms & Standards
Sea Sotra London Ltd. trade exclusively pursuant to the Terms of the BIFA — British International Freight Association (2005 edition), copies of which are available here on our website or the BIFA website www.bifa.org.
Unless otherwise agreed in writing by a Director of Sea Sotra London Ltd., all business is undertaken by us on the basis of our Standard Terms and Conditions, as above.
Sea Sotra London Ltd. is ISO 9001:2008 certified since 2008.
As a member of FIATA (International Federation of Freight Forwarders Associations) our company issues so called "through" bills of lading (B/L) for multi-modal shipments. FIATA B/L makes it possible for our clients to negotiate with their trade partners more suitable terms of payments because this document is accepted by European and American banks as evidence of the fact that goods were really dispatched from supplier. As a result payment period for the dispatched goods may be significantly shortened.
Forwarder's Certificate of Receipt (FCR) is another way of shortening payment period for dispatched goods. This document issued on the FIATA official letter-head may be an evidence that the cargo arrived in port and is held there at the disposal of the buyer — the new owner of the goods. Thus the supplier can negotiate payment against this document which is much faster in comparison with traditional payment against sea vessel bill of lading.
The same is true for payment against CMR (licensed trucking company bill showing that goods were dispatched on one of their vehicles).
For the convenience of our web-site visitors please find a link to the latest Incoterms 2010 edition in Wikipedia.