Mortality

  1. Mortality Default Allowance is 10%. 

   2. When product arrives with rates exceeding any of the above, the Seller must pay credit according to the following policies:

  • Seller credits Buyer for 50% CNF value of mortality in excess of the allowance rate.

Shrinkage

  1. Shrinkage Default Allowance is 5%.

   2. When product arrives with rates exceeding any of the above, the Seller must pay credit according to the following policies:

  • If the actual shrinkage rate is within 2 times that of the default allowance,�� credit is calculated as the difference between invoiced weight and actual weight on arrival, less allowance. Claim Amount: CNF Price * (100% + Customs Tax + VAT + 4.5%)
  • If the actual shrinkage rate is over 2 times that of the default allowance, credit is calculated based on the actual weight on arrival. Claim Amount: CNF Price * (100% + Customs Tax + VAT + 4.5%) ** Customs Tax: 9%

** VAT: 13%

** Delivery Charges: 4.5%

Spoiled/Rotten Product

  1. Claim valued at 127 % of CNF Price = [Total CNF Value + Total Taxes Paid * (Customs Tax % + VAT %) + Delivery Charges (CNF Price * 4.5%)]

** Customs Tax: 9%

** VAT: 13%

** Delivery Charges: 4.5%

Auction Time 

Prices go live at 14.00PM Beijing time (T-1 days to arrival).

Cut-off Time of Documentation 

Product cut-off time is 17.00 PM Beijing time (T-5 days to arrival).

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