Financial Terms

1) Unless otherwise agreed, GPLN members will settle all debts within thirty days of invoicing one another.

2) Unless otherwise agreed, GPLN members will keep FOB, clearance, delivery / inland transportation, etc., charges for themselves.

3) Quotations from GPLN members to GPLN members must specifically state exactly which currency invoices will be made in and payments should be received in the same currency. Furthermore it has also to be clarified in advance whether such quotes are subject to any changes or surcharges (such as CAF).

4) Unless otherwise agreed, payments to GPLN members will be in the currency quoted.

5) For business between members, monthly statements should be provided by the creditor.

6) For all ongoing GPLN business requiring offsets, unless otherwise agreed, both parties should provide statements for settlement by the 10th of each month.

7) Any amounts that pass the 60 day overdue mark should be reported to the GPLN membership coordinator so that GPLN is aware of any members who are having financial difficulty.

8) When a GPLN member supports a policy that a credit application is a requirement to do business, this should be clearly stated in quotations to all other GPLN members. Otherwise this will not be assumed to be a requirement.

9) All transactions between members are to be paid as agreed bi-laterally between members (or multi-laterally should the trade be cross trade arrangements between members). Payment between members for due invoices, debits, or other agreed debts which are incurred by the trade, unless prior agreed between the concerned members, will not ever require or depend upon the actions, payments, or motions of any third or fourth parties (shippers, consignees, customers, or agents otherwise). If a debt with another member was incurred then it shall be duly paid by responsible party ordering the transaction as agreed. Awaiting payment from a client, agent, or any other party, is not an excuse for non-payment to another member unless these were terms agreed prior to the trade.