For historical reasons our tariffs have been expressed in US Dollars and, as per normal practice, freight invoices have been raised by OOCL and paid by shippers or consignees in the local currency.
Over the past few months we have received an increasing number of requests by our UK and Ireland based customers to settle bills in US Dollars and in some cases in two different currencies.
We have reviewed the company's policy on this matter. We are pleased to advise that we will accept payment of freight charges in US Dollars or multiple currencies. We outline hereunder the criteria required for this to go forward with immediate effect 15th November 2010.
- This special payment requirement should be expressed by the party negotiating the freight in their Request For a Quote (RFQ) or Invitation To Tender (ITT) or latest before the rate agreement / contract is finalised.
- The payment agreement is time geared to the rate agreement, and carries the same effective and expiry dates. It will affect all shipments moving under the rate agreement.
- Payment in US Dollars is to be made electronically only, by BACS or CHAPS to the USD account shown on our invoices
- c/o HSBC Bank Plc, Sort Code 40-05-15 Account # 39931320 in the UK,
- c/o HSBC Bank Plc, Sort Code 99-02-31, Account # 00204435 in Ireland.
Payment by cheque will not be accepted. All charges will be converted in US Dollars including local charges using the vessel's rate of exchange.
- All associated bank charges including those for the remitting bank and their correspondent bank are expected to be borne by the party paying the freight. In the event that a payment is received by our bank with any bank charge deducted, same will be recovered from the party paying freight in USD.
- Payment for shipments in two different currencies (for instance freight charges in US Dollars and local charges in Sterling or Euros) is possible, however this special requirement will require a manual intervention and as such, will carry an administration fee of £40 per shipment for invoices collected in the UK and EUR 30 per shipment for invoices collected in Ireland. Charges split between 2 currencies will be billed on 2 invoices, with the appropriate administration fee applied on the local currency invoice.
- So that we meet your requirements and invoice you correctly first time, all Shipping Instructions must explicitly include invoicing currency requirements. Where charges are to be invoiced in multiple currencies the SIs should clearly show the currency in which each surcharge should be billed.
We would like to take advantage of this communication to remind our valued customers that we do offer you the opportunity to settle in the UK or Ireland freight charges on cargo moving from foreign origins to foreign destinations as per OOCL's Freight Receivable Elsewhere procedures. In such cases, a Freight Handling fee of £50 per collection will apply in the UK and EUR 50 per collection will apply in Ireland.
We hope the above will assist you, and thank you for your continued support. For further information please contact your Area Sales Manager or local Customer Service Centre.
