1.General information

Providing credit to trade partners as such is not an integral part of the service provided by Delphis Logistics and it is thus never granted automatically.Credit should be commercially justified and it is only granted to customers who are creditworthy. Credit is not provided to non-regular and low turnover customers. 

2. Credit Period

The credit period will depend on the creditworthiness of the customer as we well as expected support to be received from him. 

3. Credit Limit

The credit limit will depend on the creditworthiness of the customer as we well as expected support to be received from him. 

4. Penalties for Overdue payment

Team Lines Deutschland GmbH & Co. KG operating under the name of “Delphis Logistics” reserves the right to charge and invoice penalty interests of 10% p.a. from total amount due after Credit Period expiration. The penalty interests will be charged via separate invoice. 

5. Exceeding period / Limit

If the Credit Period or Limit is exceeded, credit facilities may be withdrawn and no further cargo or documentation may be released until all charges due have been paid. If payments are more than 30 days overdue, Team Lines Deutschland GmbH & Co. KG operating under the name of “Delphis Logistics” may commence legal action to recover all outstanding amounts. Should the Credit Period or limit be repeatedly exceeded, Delphis Logistics shall be entitled to terminate the agreed credit terms by serving notice with immediate effect on the beneficiary of the credit granted. 

6. Scope of Agreement

 The credit amount covers freight and all ancillary charges. No credit is given or shall be deemed to have been given for demurrage / detention, which shall remain due as per Delphis Logistics’ applicable Tariff, invoice payment terms and conditions and/or bill of lading and/or sea waybill terms and conditions.

7. Disputed / Queried Invoices

Disputed claims are not to be deducted from freight and/or ancillary charges; nor is it allowed to hold back payment of freight and/or ancillary charges due to disputed claims. Disputed / queried invoices should be returned to the Delphis Logistics office as soon as its addressee becomes aware of a problem.

8. Remedies are cumulative

The rights and remedies available to Delphis Logistics under the credit agreement are cumulative and are in addition to every other remedy, including but not limited to those as per the Delphis Logistics Bill of Lading or Sea Waybill, as the case may be, and as per the Delphis Logistics invoice payment terms and conditions. They shall not be construed to be a waiver of the right to exercise at the same time or thereafter any other remedy. 

9. Entry into force and duration

The credit agreement becomes effective upon credit approval of the customer and it shall continue in effect unless and until terminated by either party giving to the other its 2 (two) months prior written notice of termination, provided however that termination shall not extinguish any existing liabilities hereunder. 

10. Law and jurisdiction

The present Agreement shall be subject to the same law and jurisdiction provisions as those contained in the Delphis Logistics Bill of Lading or Sea Waybill, as the case may be, i.e. any claim or dispute arising hereunder, including third party proceedings or those involving several defendants, shall exclusively be governed by German law and exclusively be determined by the courts of Hamburg but, if Delphis Logistics is plaintiff to the claim or dispute and in his discretion so elects, such claim or dispute shall be subject to the law and determined by the Court of the place where the defendant has its registered office, but only to the extent that anything else has not been dealt with by the provisions of the Delphis Logistics Bill of Lading or Sea Waybill, as the case may be.