Terms of Trade

1. Introduction

These Terms of Trade govern all transactions between Golden Flame General Trading LLC ("Company," "we," "us") and any buyer, supplier, or counterparty ("Client," "you"). By engaging in any transaction with us, you agree to be bound by these terms.

2. Definitions

• Incoterms: All shipments shall be governed by ICC Incoterms 2020 unless otherwise agreed in writing.
• Product Specifications: As detailed in the proforma invoice or sales contract.
• Business Day: Sunday through Thursday, excluding UAE public holidays.

3. Quotations & Orders

All quotations are valid for 7 calendar days unless otherwise stated. Orders become binding only upon our written confirmation or issuance of a proforma invoice. We reserve the right to reject any order at our sole discretion.

4. Pricing & Payment

Prices are quoted in USD unless otherwise specified. Payment terms are typically:

• Irrevocable Letter of Credit (L/C) at sight from a prime bank acceptable to us
• Telegraphic Transfer (T/T) with agreed advance/deposit
• Documents against Payment (D/P) for established relationships

All banking charges outside UAE are for the Client's account.

5. Delivery & Risk

Delivery dates are estimates only. Risk transfers according to the agreed Incoterm. Title to goods passes upon receipt of full payment in cleared funds.

6. Inspection & Quality

Client may appoint an internationally recognized inspection agency (e.g., SGS, Bureau Veritas) at their own cost. Inspection at load port shall be final and binding unless manifest error is proven. All goods conform to standard export specifications unless otherwise agreed.

7. Force Majeure

Neither party shall be liable for failure or delay due to events beyond reasonable control including acts of God, war, terrorism, pandemic, government restrictions, or supply chain disruptions.

8. Limitation of Liability

Our total liability for any claim shall not exceed the invoice value of the specific shipment in question. In no event shall we be liable for consequential, indirect, or punitive damages.

9. Governing Law & Disputes

These terms shall be governed by the laws of the United Arab Emirates. Any dispute shall be submitted exclusively to the courts of UAE, or to arbitration under the rules of the Dubai International Arbitration Centre (DIAC) if mutually agreed.

10. Amendments

We may update these Terms of Trade from time to time. The version in effect at the time of order confirmation shall govern that transaction.