Concepts of Standard Trading Terms and Conditions
- Standard Trading Conditions (STC) are standardized terms imposed by some countries for accepting cargo by shipping lines, airlines and logistics services providers like freight forwarders and customs agents.
- They are often based on the standardized trading rules suggested by FIATA.
- Terms of Trade, also known as Conditions of Sale or Terms and Conditions, are designed to protect the seller’s rights, to limit potential liabilities and provide some degree of security for the recovery of the debt, following the supply of goods or services.
- Standard Trading Terms may be written or otherwise, any how it is highly recommended that the standard trading terms be documented for references purposes.
- The terms and conditions are for accepting and delivery of cargo by/to shipping lines, air lines and logistics services providers like freight forwarders and or customs agents
- The STC state the general contract terms and conditions between the contracting parties in cases of transportation, storage and or otherwise handling of goods in the case of customs agents or freight forwarders.