Terms and Conditions
1. Shipping Terms
FOB (Free On Board): This term indicates that the cost of the vehicle does not include ocean freight. If you purchase the vehicle at the FOB price, it covers the cost of the vehicle and expenses up until the loading onto the ship in the originating country.
CFR (Cost and Freight): This term signifies that the cost of the vehicle includes both the expenses incurred in the originating country and during ocean freight.
CIF (Cost, Insurance, and Freight): With this term, the cost of the vehicle covers all expenses in the originating country, during ocean freight, and includes insurance for the vehicle. If you require insurance, please let us know, and we will assist you accordingly.
T.T (Telegraphic Transfer / Wire Transfer): Telegraphic Transfer or Wire Transfer is considered the best method of payment. It offers speed, security, and efficiency in money transfer. Most major banks facilitate Telegraphic Transfer for transferring funds.
L/C (Letter of Credit): We accept Letters of Credit at sight for selected countries. To obtain the necessary information about this document, please consult your nearest bank. Please note that these shipping terms and payment methods are subject to the specific agreements and conditions outlined in our terms of trade.
2. Export documentation guidelines
Reservation and Payment: Unless stated otherwise, a vehicle will be reserved for a period of three (3) business days. A minimum payment of 50% must be made within the reservation period. Failure to make the required payment within the specified time will result in automatic cancellation of the order.
Shipping Procedure: The shipping process will commence upon receipt of the deposit, which has been agreed upon by both the customer (you) and ST Group of Companies (us). Once full payment is received, all relevant documents will be sent to you via courier service (such as DHL, FedEx).
Letters of Credit: We accept Letters of Credit at Sight from selected countries.
TT Copy and Document Preparation: After payment, a scanned copy of the Telegraphic Transfer (TT) transaction will be required to ensure prompt shipping and document preparation, thus avoiding any potential delays.