1. General
By engaging with or using any services provided by LotusGTL, you agree to be bound by these Terms and Conditions (“Terms”). These Terms govern all transactions, quotations, and communications between LotusGTL and its clients, partners, and suppliers.
2. Scope of Services
LotusGTL operates as an indenting, import–export, and logistics company, representing global suppliers and facilitating international trade. The company acts as an intermediary to ensure smooth commercial transactions between buyers and manufacturers.
3. Pricing & Quotations
All quotations issued by LotusGTL are based on current market conditions and are subject to availability and market fluctuations. Prices are valid only for the period specified in the quotation and may change without prior notice.
4. Order Confirmation
An order is considered confirmed only upon receipt of an official Purchase Order (PO), Letter of Credit (LC), or agreed advance payment, as specified in the quotation or contract. Any changes or cancellations must be communicated in writing and are subject to LotusGTL’s approval.
5. Payment Terms
Payments are accepted via Letter of Credit (LC), Telegraphic Transfer (TT), or bank transfer, in accordance with the agreed payment schedule. Late payments may incur interest charges as per applicable trade practices.
6. Compliance & Documentation
Each shipment is accompanied by standard export documentation, including but not limited to:
- Commercial Invoice
- Bill of Lading (BL)
- Certificate of Origin (COO)
- Packing List
Additional documents may be provided upon request, subject to agreement between the parties.
7. Liability & Limitations
LotusGTL acts solely as an indent agent and is not liable for any delays, losses, or damages caused by manufacturers, shipping lines, ports, customs authorities, or force majeure events. The company’s responsibility is limited to ensuring proper coordination and communication between the parties involved.
8. Product Quality & Inspection
All products are supplied as per the manufacturer’s specifications. Inspection and quality control are the buyer’s responsibility unless otherwise stated in the sales contract.
9. Governing Law & Jurisdiction
All transactions conducted through LotusGTL are governed by the Trade Laws of the People’s Republic of Bangladesh and adhere to INCOTERMS 2020. Any disputes arising from these Terms shall be subject to the exclusive jurisdiction of the courts of Bangladesh.
10. Amendments
LotusGTL reserves the right to amend or update these Terms & Conditions at any time without prior notice. The most recent version shall apply to all ongoing and future transactions.