Rule 7: Payment of Freight Charges
A. CURRENCY: Rules and charges are quoted in U.S. Currency and have been determined with due consideration to the relationship of U.S. currency to other currencies involved. In the event of any material change in this relationship, carrier reserves the right, upon publications in conformity with the provisions of the U.S. Shipping Act of 1984, as amended, to adjust the rates and charges as required.
B. PAYMENT IN U.S. DOLLARS: Except as otherwise provided, freight and charges shall be prepaid in the United States in US currency on payment terms provided to Shipper(s) by Carrier in the Freight Quotation or Invoice (pre-shipment, post-shipment, and any other invoice related to cargo).
C. METHODS OF PAYMENT: Payment for freight or other charges due the carrier must be payable in legal tender or, at carrier's option, by check or bank draft acceptable by carrier's bank for immediate credit without charges. Any payment processing charges are to be paid by Shipper(s) or Consignee(s).
D. PREPAID FREIGHT:
1. When freight monies and charges are prepaid, such payment shall be made pursuant to Carrier’s terms in freight documents before the release of any Ocean Bill of Lading by the carrier to the shipper or his duly authorized licensed Freight Forwarder or Agent acting in his behalf.
2. When freight and charges are billed prepaid they shall be paid in U.S. dollars.
E. FREIGHT COLLECT: All freight and charges which are billed on a freight collect basis must be paid in full in U.S. Dollars, or in a currency acceptable to the carrier provided such currency shall be unblocked, freely convertible and freely remittable free of tax into U.S. Dollars, for the complete originally issued Bill of Lading quantity prior to release of cargo or any portion thereof.
F. CURRENCY CONVERTABILITY: Conversion Provisions: In addition to the United States Dollars, freight monies and charges may be billed and paid in foreign currencies, provided they are freely convertible and remittable and free of tax.