Terms of Carriage & Freight Service

1. Scope and Definitions

These Standard Terms and Conditions of Carriage ("Agreement") apply to all transport, logistics, warehousing, customs brokerage, and telematics monitoring services provided by VELORA Shipping LLC ("VELORA", "Carrier", "Company") to the customer ("Shipper", "Consignor", "Consignee", or "Receiver").

By booking cargo, accepting an airway bill (AWB), ocean bill of lading (B/L), or signing a rate confirmation quotation, the customer explicitly consents to these terms without modification. Any conflicting customer purchase orders or supplier terms are expressly rejected unless confirmed in writing by an executive officer of VELORA.

2. Carrier Liability & International Conventions

Unless the Shipper declares a higher valuation prior to tender and pays the applicable supplementary insurance fee, VELORA's liability for loss, damage, or delay is strictly defined and capped by applicable international conventions and statutory limits:

• International Air Freight: Governed by the Montreal Convention 1999 or the Warsaw Convention, whichever is legally operative. Liability is capped at 22 Special Drawing Rights (SDR) per gross kilogram.
• Ocean & Maritime Freight: Governed by the Hague Rules, Hague-Visby Rules, or the Carriage of Goods by Sea Act (COGSA), capped at $500 USD per package or customary freight unit, or 2 SDR per gross kilogram, whichever is applicable.
• Ground / Intermodal Road Freight: Governed by the CMR Convention in Europe (capped at 8.33 SDR/kg) or the Carmack Amendment / Uniform Bill of Lading tariffs in North America.
• Consequential & Indirect Damages: Under no circumstances shall VELORA be liable for special, indirect, punitive, incidental, or consequential damages, including loss of market, production downtime, loss of profits, or business interruption, whether or not VELORA was notified of such risk.

3. Shipper Warranties & Packaging Standards

The Shipper warrants and guarantees that:

• All packages and freight tenders are adequately packed, labeled, palletized, shrink-wrapped, and marked to withstand the ordinary risks of multimodal transit (including road vibration, air turbulences, vessel pitch/roll, and warehouse handling).
• All descriptions, weights, gross volumes, harmonized tariff codes (HS Codes), and values provided on commercial invoices and export documentation are accurate and complete.
• The shipment complies with all applicable export controls, sanctions lists (OFAC, BIS, EU Trade Restrictions), and dual-use commodity regulations.

4. Dangerous Goods (Hazmat) & Prohibited Cargo

Dangerous Goods as classified under IATA Dangerous Goods Regulations (DGR) and the IMO IMDG Code (including lithium batteries, compressed gasses, flammable liquids, and corrosive compounds) must be declared in advance.

Shippers must tender full Safety Data Sheets (SDS) and certified Shipper's Declarations for Dangerous Goods (DGD). Tendering undeclared or mislabeled hazardous materials constitutes a criminal offense and results in immediate forfeiture, regulatory reporting, and full indemnification of VELORA for all fines, vessel diversions, and emergency cleanup costs.

5. Quotations, Fuel Surcharges & Billing

Quotations issued via the VELORA online rate calculator or custom sales proposals are based on current bunker fuel indexes, exchange rates, and carrier tariffs at the time of quotation.

• Rates are subject to standard volumetric charge multipliers: Air (1:6000 m³/kg standard / 1:5000 courier), Ocean LCL (1 CBM = 1,000 kg), Road LTL (333 kg/m³).
• Invoices are payable within net 15 or 30 days based on verified corporate credit approval. Invoices overdue by 14+ days accrue statutory commercial interest at 1.5% per month.
• General Lien on Cargo: VELORA maintains a general possessory lien on all shipments, documents, and bill of lading releases in its possession for all unpaid invoices, storage demurrage, and customs duties owed by the Customer.

6. Customs Clearance & Brokerage Authorization

VELORA acts as a licensed customs broker and freight forwarding agent. The Customer grants VELORA full power of attorney to execute customs entries, export declarations, and fiscal representation on the Customer's behalf before US Customs and Border Protection (CBP), EU TARIC Member Authorities, and international border security agencies.

The Customer remains strictly liable for all duties, tariffs, anti-dumping penalties, port detention, and VAT assessed by customs authorities, even under Delivered Duty Paid (DDP) arrangements where receiver defaults occur.

7. Notice of Loss & Claims Deadlines

To maintain legal eligibility for cargo damage or loss indemnification, mandatory notice periods must be strictly observed:

• Visible Damage or Packaging Rupture: Must be endorsed directly on the Delivery Receipt (Proof of Delivery / POD) upon handover and reported in writing to VELORA within 48 hours.
• Concealed Loss / Internal Damage: Must be reported with photographic/video evidence within 7 calendar days of physical delivery. Packaging materials must be retained for independent surveyor inspection.
• Total Loss / Non-Delivery: Formal claims must be filed within 30 calendar days from the scheduled estimated date of arrival (ETA).
• Statute of Limitations: Any legal action against VELORA is time-barred unless instituted within 1 calendar year (road/ocean) or 2 calendar years (air) from the delivery or scheduled delivery date.

8. Governing Law & Dispute Resolution

This Agreement and all contracts for carriage entered into with VELORA Shipping LLC shall be governed by and construed in accordance with the laws of the State of Delaware, United States of America, without regard to conflicts of law principles.

Any dispute, claim, or controversy arising out of or relating to freight forwarding services shall be submitted to confidential, binding commercial arbitration under the rules of the American Arbitration Association (AAA) or the London Court of International Arbitration (LCIA) for maritime matters, conducted in the English language.