Mortality

  1. Mortality Default Allowance is 10%.

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

  • Seller credits Buyer for 50% CNF value of mortalities exceeding the allowance rate.

Shrinkage

  1. Shrinkage Default Allowance is 3%.

   2. When product arrives with shrinkage 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 of the default allowance, credit is calculated as the difference between invoiced weight and actual weight on arrival, less allowance.
  • If the actual shrinkage rate is over 2 times 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: 14%

** VAT: 13%

** Delivery Charges: 4.5%

Damaged Products

  1. Damaged Default Allowance is 5 damaged legs allowed per box (not including single crabs with 3 or more damaged legs) and for Dungeness Crab (cull) 15 damaged legs are allowed per box. 

   2. Damaged legs:

  • 1-3 damaged legs: Seller compensates Buyer US $2/ea
  • 4-6 damaged legs: Seller compensates Buyer US $4/ea
  • 6+ damaged legs: Seller compensates Buyer US $6/ea

   3. The total claims amount cannot exceed the total CNF value of the invoice

   4. Individual crabs that have damaged legs in excess of allowance rates are to be compensated at the rate of US $0.35/kg x CNF Price

Spoiled/Rotten Product

1.Claim valued at 132% of CNF Price = [Total CNF Value + Total Taxes Paid

* (Customs Tax % + VAT %) + Delivery Charges (CNF Price * 4.5%)]

** Customs Tax:14%

** VAT: 13%

** Delivery Charges: 4.5%

Discrepancies arising from quantity

If product shipped is determined to be more than that which was ordered, the quantities in excess are to be compensated at the rate of US $0.35/kg x CNF Price.

Auction Time

Prices go live at 12.00PM Beijing time (T-2 days to arrival) 15.00PM Beijing time (T-2 days to arrival). 

Cut-off Time of Documentation

Product cut-off time is 23.00PM Beijing time (T-2 days to arrival).

Discrepancies arising from quality

  1. If product shipped is determined to be of higher quality than product ordered, the original pricing will prevail.

   2. If product shipped is determined to be of lower quality than of that ordered, the Seller must honor pricing for lower quality product and pay 5% of the invoice value based on the lower quality product's pricing. In addition, the Seller must compensate the buyer for 5% of the value of the ordered goods.

   3. If the Seller does not have a listed price for a lower quality product, the Seller will automatically be subjected to pay the buyer compensation based on 35% of the value of the goods ordered.

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