These General Terms and Conditions govern all commercial quotations, Sales and Purchase Agreements (SPA), and physical deliveries executed by Crown Global Commodities Limited (Company No: 16678856). In the event of discrepancy between these general terms and a formal signed bilateral contract, the specific terms of the ratified contract shall prevail.
Deliveries of energy, petroleum products, and chemical cargoes are conducted in accordance with the International Chamber of Commerce (ICC) Incoterms® 2020 rules (principally CIF, FOB, CFR, or DAP). Risk of loss and damage transfers strictly in accordance with the specified delivery term.
Unless otherwise stated in the contract, quantity and quality measurements shall be established at the load port or designated shore tanks by an independent internationally recognized inspection agency (SGS, Saybolt, Intertek, or equivalent) whose certificates shall be final and binding on both parties, save for manifest error or fraud.
Settlement is conducted via telegraphic transfer (TT), Irrevocable Documentary Letters of Credit (DLC), or Standby Letters of Credit (SBLC) confirmed by top-tier financial institutions. Title to the commodity remains with Crown Global Commodities Limited until full payment has been received in cleared funds.
All contracts and disputes arising out of or in connection with them shall be governed by and construed in accordance with the laws of England and Wales. Any dispute that cannot be resolved amicably shall be subject to the exclusive jurisdiction of the High Court of Justice in London, or referred to arbitration under the rules of the London Court of International Arbitration (LCIA).
