Terms & Conditions of Trade

Last Updated: November 2025

Important: All transactions require 100% upfront payment unless specifically approved for Letter of Credit terms for eligible non-perishable products.

1. Payment Terms

1.1 100% Upfront Payment Requirement
All orders for perishable agricultural products (fresh fruits, vegetables, berries) require 100% payment upfront before order processing and shipment. Payment must be confirmed in our bank account before cold chain logistics are initiated.

1.2 Accepted Payment Methods
• Bank wire transfer (preferred)
• International bank draft
• Letter of Credit (limited eligibility - see section 2)

2. Letter of Credit Terms

2.1 Limited Eligibility
Letters of Credit may be considered ONLY for non-perishable products and subject to strict eligibility criteria:

Eligible Products for L/C:
• Dry seeds and grains
• Coffee beans
• Cacao beans and derivatives
• Powdered roots (ginger, turmeric, maca)
• Other shelf-stable agricultural commodities

2.2 Bank Restrictions
We accept Letters of Credit only from pre-approved international banks with investment-grade ratings. L/C must be irrevocable, confirmed, and payable at sight. Additional bank charges are borne by the buyer.

3. Product Quality & perishability

3.1 Perishable Goods
Fresh agricultural products are subject to natural variations, seasonal availability, and perishability. Quality is guaranteed at time of shipment only. Cold chain maintenance is the responsibility of the buyer upon shipment departure.

3.2 Non-Perishable Goods
Dry products must meet specified moisture content and quality standards. Claims must be filed within 14 days of receipt with supporting documentation.

4. Shipping & Risk

4.1 Title and Risk
Title and risk of loss pass to buyer upon shipment departure from origin port/airport. Insurance is strongly recommended and can be arranged through VM Global at additional cost.

5. Order Cancellation

Orders with 100% upfront payment may be cancelled within 24 hours of payment for full refund. After 24 hours, cancellation fees apply based on procurement and logistics costs incurred.

6. Force Majeure

We are not liable for delays or non-performance due to: weather events, port closures, export restrictions, phytosanitary issues, or other circumstances beyond our reasonable control.

7. Governing Law

These terms are governed by Peruvian commercial law. Disputes shall be resolved through arbitration in Lima, Peru.

8. Contact

For payment terms inquiries & Letter of Credit Approvals: info@vmglobal.pe