Delivery Terms and Payment Policy

  • Delivery Terms Policy

Utchy Global Services Limited offers flexible international shipping options to meet your logistical needs. All deliveries are subject to the following Incoterms 2020 guidelines:

1. Accepted Delivery Terms

FOB (Free On Board):
  • Goods are delivered onboard the vessel at the port of origin (Nigeria).
  • Buyer’s Responsibility: Freight costs, insurance, and risks after loading.
  • Seller’s Responsibility: Export clearance, loading charges, and pre-shipment inspections.
CFR (Cost and Freight):
  • Seller covers freight to the port of destination.
  • Buyer’s Responsibility: Insurance and risks during transit.
CIF (Cost, Insurance, and Freight):
  • Seller pays for freight and minimum marine insurance (110% of invoice value).
  • Buyer’s Responsibility: Risks upon arrival at the destination port.
LC (Letter of Credit):
  • Shipment proceeds only upon issuance of an irrevocable LC from a reputable bank.
  • Documents required: Bill of Lading,
  • Commercial Invoice, Packing List, Certificate of Origin, and Inspection Reports.

2. Key Conditions

  • Lead Time: 10–25 days after order confirmation (subject to product availability).
  • Port of Origin: Lagos/Apapa Port, Nigeria (default; other ports negotiable).
  • Customs & Import Duties: Buyer’s responsibility unless otherwise agreed.
  • Force Majeure: Delays due to natural disasters, strikes, or government policies are not liable.
  • Payment Terms Policy

To facilitate seamless transactions, Utchy Global Services Limited accepts the following payment methods:

1. Accepted Currencies

  • USD (US Dollar)
  • EUR (Euro)
  • POUNDS (British)

2. Payment Methods

Letter of Credit (LC):
  • Irrevocable, confirmed LC from a Tier-1 bank preferred.
  • LC must be issued within 5 working days of order confirmation.
Telegraphic Transfer (TT):
  • 40% advance payment before production/shipment.
  • 60% balance payable after Bill of Lading is shared.
Bank Draft:
  • Valid only for repeat buyers with established credit terms.

3. General Terms

  • Pricing: All quotes are valid for 14 days (FX fluctuations may apply).
  • Taxes: Prices exclude VAT/GST unless stated.
  • Late Payments: 1.5% monthly interest applied after 15 days of due date.
  • Refunds: Only for undelivered or non-compliant shipments (verified by third-party inspection).

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