Credit Agreement

We wish to establish credit privileges with Atlantic Container Line, “THE CARRIER” as its interest may appear, for the purpose of paying freight invoices and all charges due within their associated credit terms. In the consideration of granting credit directly to us or through our duly authorized Forwarder, Broker, or other Agent, we hereby undertake and agree as follows:

• Receipt of all documents so issued by “THE CARRIER” shall be signed by us or on our behalf by the Forwarder, Broker, or other Agent we designate.
• Unconditionally guarantee to “THE CARRIER” payment of all freight and charges due regardless of whether funds for payment have been received from our customer. In addition, to remain absolutely liable when our customer fails to make such payments to “THE CARRIER.”
• Will designate bill of lading numbers on remittance advice for all payments. Understands that failure to do so may result in payments being automatically applied against oldest outstanding charges.
• Understands and agrees that this document incorporates, and does not derogate from, the terms of “THE CARRIER’s” bill of lading.
• We recognize and acknowledge that the issuance of any bill of lading marked “prepaid” or “freight prepaid” will not be a representation or acknowledgment by “THE CARRIER” that such freight has in fact been paid. It is expressly understood and agreed that our Forwarder or Agent is not the Agent of “THE CARRIER” for the purpose of receiving payment of freight and charges.
• To remit payment on all invoices within credit terms specified and approved by “THE CARRIER”.
• Credit privileges may be suspended for any failure to comply with this Agreement. Should said privileges be suspended, original documents will be surrendered by “THE CARRIER” only upon receipt of full payment of manifested prepaid or collect charges. Datafreight Receipts (DFRs) may be changed to Original Bills of Lading to ensure compliance.
• Nothing herein contained shall preclude “THE CARRIER” from exercising absolute discretion in refusing to extend credit, and to demand and collect payment of all freight and charges prior to Vessel’s arrival for inbound cargoes for which charges have been manifested as collect.
• If freight and charges are not paid when due, “THE CARRIER” reserves the right to collect from the shipper any reasonable costs and attorney fees incurred in collecting such freight and charges.
• This Agreement shall continue in effect until terminated by written notice from the undersigned or “THE CARRIER” (or any agent of THE CARRIER) it being understood and agreed that such termination shall not extinguish any existing liabilities hereunder.

We wish to establish credit privileges with Atlantic Container Line, “THE CARRIER” as its interest may appear, for the purpose of paying freight invoices and all charges due within their associated credit terms. In the consideration of granting credit directly to us or through our duly authorised Forwarder, Broker, or other Agent, we hereby undertake and agree as follows:

• Receipt of all documents so issued by “THE CARRIER” shall be signed by us or on our behalf by the Forwarder, Broker, or other Agent we designate.
• That the “Shipping Act” requires as “an absolute obligation” the collection of all tariffed freight charges.
• Unconditionally guarantee to “THE CARRIER” payment of all freight and charges due regardless of whether funds for payment have been received from our customer. In addition, to remain absolutely liable when our customer fails to make such payments to “THE CARRIER.”
• Will designate bill of lading numbers on remittance advice for all payments. Understands that failure to do so may result in payments being automatically applied against oldest outstanding charges.
• Understands and agrees that this document incorporates, and does not derogate from, the terms of “THE CARRIER’s” bill of lading.
• We recognise and acknowledge that the issuance of any bill of lading marked “prepaid” of “freight prepaid” will not be a representation or acknowledgment by “THE CARRIER” that such freight has in fact been paid. It is expressly understood and agreed that our Forwarder or Agent is not the Agent of “THE CARRIER” for the purpose of receiving payment of freight and charges.
• To remit payment on all invoices within credit terms specified and approved by “THE CARRIER”.
• Credit privileges may be suspended for any failure to comply with this Agreement. Should said privileges be suspended, original documents will be surrendered by “THE CARRIER” only upon receipt of full payment of manifested prepaid or collect charges. Datafreight Receipts (DFRs) may be changed to Original Bills of Lading to ensure compliance.
• Nothing herein contained shall preclude “THE CARRIER” from exercising absolute discretion in refusing to extend credit, and to demand and collect payment of all freight and charges prior to Vessel’s arrival for inbound cargoes for which charges have been manifested as collect.
• If freight and charges are not paid when due, “THE CARRIER” reserves the right to collect from the shipper any reasonable costs and legal fees incurred in collecting such freight and charges.
• This Agreement shall continue in effect until terminated by written notice from the undersigned or “THE CARRIER” (or any agent of THE CARRIER) it being understood and agreed that such termination shall not extinguish any existing liabilities hereunder.

We wish to establish credit privileges with Atlantic Container Line, “THE CARRIER” as its interest may appear, for the purpose of paying freight invoices and all charges due within their associated credit terms. In the consideration of granting credit directly to us or through our duly authorised Forwarder, Broker, or other Agent, we hereby undertake and agree as follows:

• Receipt of all documents so issued by “THE CARRIER” shall be signed by us or on our behalf by the Forwarder, Broker, or other Agent we designate.
• Unconditionally guarantee to “THE CARRIER” payment of all freight and charges due regardless of whether funds for payment have been received from our customer. In addition, to remain absolutely liable when our customer fails to make such payments to “THE CARRIER.”
• Will designate bill of lading numbers on remittance advice for all payments. Understands that failure to do so may result in payments being automatically applied against oldest outstanding charges.
• Understands and agrees that this document incorporates, and does not derogate from, the terms of “THE CARRIER’s” bill of lading.
• We recognise and acknowledge that the issuance of any bill of lading marked “prepaid” of “freight prepaid” will not be a representation or acknowledgment by “THE CARRIER” that such freight has in fact been paid. It is expressly understood and agreed that our Forwarder or Agent is not the Agent of “THE CARRIER” for the purpose of receiving payment of freight and charges.
• To remit payment on all invoices within credit terms specified and approved by “THE CARRIER”.
• Credit privileges may be suspended for any failure to comply with this Agreement. Should said privileges be suspended, original documents will be surrendered by “THE CARRIER” only upon receipt of full payment of manifested prepaid or collect charges. Datafreight Receipts (DFRs) may be changed to Original Bills of Lading to ensure compliance.
• Nothing herein contained shall preclude “THE CARRIER” from exercising absolute discretion in refusing to extend credit, and to demand and collect payment of all freight and charges prior to Vessel’s arrival for inbound cargoes for which charges have been manifested as collect.
• If freight and charges are not paid when due, “THE CARRIER” reserves the right to collect from the shipper any reasonable costs and legal fees incurred in collecting such freight and charges.
• This Agreement shall continue in effect until terminated by written notice from the undersigned or “THE CARRIER” (or any agent of THE CARRIER) it being understood and agreed that such termination shall not extinguish any existing liabilities hereunder.