Shipping, Liability & Incoterms Policy

Effective Date: January 1, 2024

To ensure absolute clarity regarding the transfer of risk, cost, and responsibility in our global transactions, Gir Global Exports strictly adheres to the Incoterms® 2020 rules published by the International Chamber of Commerce (ICC).

1. Standard Incoterms Utilized

Unless explicitly stated otherwise in your finalized Proforma Invoice or Sales Contract, our primary modes of international transaction utilize the following terms:

• FOB (Free On Board): Gir Global Exports clears the goods for export and bears all costs and risks up to the point the goods are loaded onto the vessel at the designated port of shipment. Once loaded, all risks of loss or damage, and all subsequent costs (including main carriage freight and insurance), transfer to the buyer.
• CIF (Cost, Insurance, and Freight): We arrange and pay for the main carriage and minimum insurance cover to the named port of destination. However, the risk of loss or damage transfers to the buyer the moment the goods are loaded onto the vessel at the port of shipment.
• EXW (Ex Works): The buyer is responsible for picking up the goods from our warehouse/facility and assumes all risks and costs from that point forward, including export customs clearance.

2. Transfer of Title and Risk

The precise moment the risk of loss or damage to the goods passes to the buyer is dictated by the agreed-upon Incoterm. However, the Title of Ownership to the goods does not pass to the buyer until Gir Global Exports has received full and final payment for the shipment.

3. Insurance and Claims

If goods are shipped under terms where the buyer assumes the risk during transit (e.g., FOB or EXW), it is the buyer's sole responsibility to secure adequate cargo insurance. In CIF transactions, we provide minimum cover (Clause C of the Institute Cargo Clauses); if the buyer requires broader coverage, they must request this in writing or arrange it independently.

In the event of damage or loss during transit, the party bearing the risk at that specific moment (as defined by the Incoterm) must file the claim with the insurance provider.

4. Force Majeure

Gir Global Exports shall not be held liable for any failure or delay in fulfilling our obligations due to circumstances beyond our reasonable control, including but not limited to acts of God, war, terrorism, strikes, port congestion, customs delays, or extreme weather events.