CargoWALLET Terms and Conditions

CargoAi PTE LTD (“CargoAi”) is offering a cloud solution, called CargoMART services that procures an e-purchasing & e-booking platform service, allowing air cargo capacities online sales & distribution through rates publication, display of flight schedules & bookable options, electronic booking requests and shipment tracking, available to registered freight forwarders under the Terms and Conditions available on https://www.cargoai.co/terms.

CargoAi may, from time to time and at its sole and absolute discretion, amend these Terms and Conditions without prior notice. The amended Terms and Conditions will be posted on this Site. Your access and use of this Site after the amended Terms and Conditions have been posted, will constitute your acceptance and agreement to be bound by the amended Terms and Conditions. For the avoidance of doubt, references to these “Terms and Conditions” shall include such Terms and Conditions as amended from time to time by CargoAi and posted on this Site.

CargoAi will offer Freight Forwarders to make payments of their e-bookings via the e-booking platform service through the Payment Service Providers, partnered with CargoAi and branded as CargoWALLET. Freight Forwarders who make eBookings will have the option to pay through the Payment Service Providers after having been activated and approved. Notwithstanding that CargoAi and its Payments Service Providers partners will be enabling a payment mechanism as part of the Platform, CargoAi will not be a party to any eBooking and to any associated AWB, neither as a customer, nor as a freight service provider; CargoAi does not alter or affect the relationship between Freight Forwarders and Carriers; CargoAi is not liable to Freight Forwarders or Carriers in connection with cargo and associated services rendered in connection with eBookings via the eBookings Platform on the Site. Similarly, the CargoAi services will not affect the terms and conditions of carriage as well as the rights and liabilities of each AWB Party as established in the AWB.

  1. Prepayment

    Freight Forwarders may deposit funds as Prepayment of the e-Bookings to CargoAi in one or more currency available in CargoWALLET. Freight Forwarders may use the Prepayment funds to make payment of eBookings in the CargoAi Platform; funds will be reimbursed to Freight Forwarders should they decide to no longer utilize CargoWALLET.

  2. Payment Method

    Freight Forwarders using CargoWALLET may remit payment via local transfer (GBP-Faster payments, EUR-SEPA Credit Transfer, USD-ACH/Fedwire, CAD-Electronic Funds Transfer) and/or SWIFT or any other approved payment method accepted in the region and by the eBookings Platform at CargoAi’s discretion. Freight Forwarders may make payments in another currency convenient for them if the payment method is available by the Payment Service Providers, and any fee associated with such collection will be borne by Freight Forwarders, as set forth on a price listed at the time of transactions.

    Carriers will be paid in the currency in which prices were quoted and booked unless otherwise requested by Carriers.

  3. Invoice

    Carriers will issue invoices to CargoAi for the freight services rendered pursuant to eBookings whenever Freight Forwarders chooses to pay via CargoWALLET. CargoAi will make payments to Carriers through Payment Service Providers based on the agreed payment schedule with Carriers after the services of the invoices are successfully rendered by Carriers. CargoAi will issue invoices to Freight Forwarders based on the invoices received from Carriers. CargoAi and Payment Service Providers does not alter or affect the relationship between Freight Forwarders and Carriers; CargoAi is not liable to Freight Forwarders or Carriers in connection with cargo and associated services rendered in connection with eBookings via the eBookings Platform.

  4. Prepaid

    When Freight Forwarders choose to make payment of their eBookings via CargoWALLET Prepaid payment, immediately the funds of Buyer’s Prepayment will be on hold with additional amount of the quoted eBooking amount instructed by CargoAi. Once eBooking is confirmed by Carrier, funds on hold will be deducted from the Buyer’s Prepayment funds and their balance will be updated. In case eBooking is rejected/cancelled for any reason, funds on hold will be released to Buyer’s Prepayment balance and available for Freight Forwarders to use for eBookings. After freight services rendered pursuant to eBookings, CargoAi will update the final freight service charges to Freight Forwarders including the final costs (corrective charges and any other costs and adjustment issued by Carriers). In the circumstances if the final freight service amount is more than the Freight Forwarders Prepaid amount including additional amount deducted from Buyer’s Prepayment funds, CargoAi will deduct from the Prepayment funds of the Freight Forwarders received in CargoWALLET. In a situation where Freight Forwarders Prepaid funds is not enough to cover the final costs, Freight Forwarders must make payment for the outstanding amount immediately and he might incur late fee as per stated below in 8. In a situation where Freight Forwarders Prepaid funds for the pursuant to eBookings is more than the final freight service amount, CargoAi will refund the difference to Freight Forwarders.

  5. PayLater

    CargoAi may at their discretion offer some Freight Forwarders payment terms in connection with eBookings which allows Freight Forwarders to pay the freight services to CargoAi based on allowed amount and agreed payment due date by CargoAi. There will typically be an additional Paylater Payment Fee assessed in connection with these payment terms, which must be agreed to by Freight Forwarders prior to making an eBooking with payment terms. The calculation of such PayLater amount shall include the outstanding amounts of all purchases Freight Forwarders has made under the eBookings, whether billed or unbilled. Freight Forwarders shall make payments to CargoAi as frequently as may be necessary to keep the outstanding Account balance within the PayLater amount and in compliance with the payment terms set forth herein. If Freight Forwarders or its bank for any reason should fail to timely pay any amount due CargoAi, Freight Forwarders understands and agrees that CargoAi may immediately suspend all Accounts held by Freight Forwarders and potentially block shipment with partner Carriers. Freight Forwarders will also incur late fees as per 8.

  6. Dispute

    Freight Forwarders and Carriers will need to resolve any disputes that may arise between them. CargoAi will assist Freight Forwarders and Carriers to resolve any such disputes by providing them with information from the platform about the provision of services pursuant to an eBooking. For CargoAi to provide that assistance, Freight Forwarders and Carriers must provide timely information to CargoAi with regards to changes in weight or volume (identified post tendering at the ground handling agent), flights, or any other information related to eBookings. The freight service paid with CargoWALLET is subject to the rules relating to liability established by the Warsaw Convention or the Montreal Convention even if such carriage is not “international carriage” as defined by the applicable Conventions.

  7. Account Statement

    Account statements will be issued by CargoAi to Freight Forwarders on monthly basis depending on the Account’s billing settings or options in the PayLater payment, and payments will be due in accordance with the due date indicated on such account statement.

  8. Late Payment Fees

    In case payments are not settled by Freight Forwarders in accordance with the payment terms, CargoAi has the right to cancel any outstanding eBookings of that Freight Forwarders, and to charge a special late fee in addition to any other fees, which may declare the principal amount then outstanding of, and the accrued interest on, or the maximum percentage interest rate assessable pursuant to Applicable Law, unless otherwise shown at the time of booking. Late fees are assessed on each subsequent statement in which such late fees have accrued. Freight Forwarders is liable for all late fees assessed to the Account and must pay the fees to maintain the Account below the PayLater limit and in good standing. CargoAi may change or cancel any Freight Forwarder’s PayLater limit at any time and at its sole discretion. In case of a bankruptcy, winding up or similar process of a Freight Forwarders, all outstanding payments will be due immediately.

  9. Terms and Conditions of Carriers

    Freight Forwarders have the responsibility to review the terms and conditions of each Carrier providing services under any eBookings.

    Freight Forwarders using airfreight services agree to be bound by the IATA rules and regulations and by the terms and conditions appearing on the back of the airway bill.

  10. Disclaimer

    CargoAi HEREBY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, RELATING TO ANY SUCH GOODS OR SERVICES PURCHASED FROM SELLER, ITS SUBSIDIARIES OR ANY OF ITS AFFILIATES, OR THROUGH THE E-COMMERCE SITE, INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY, TITLE, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT AND FREIGHT FORWARDER HEREBY WAIVES ANY RIGHT TO BRING ANY CLAIM AGAINST CargoAi IN CONNECTION WITH ANY OF THE FOREGOING.

    FREIGHT FORWARDER UNDERSTANDS THAT THE eBOOKINGS ARE BETWEEN THE CARRIERS AND THE FREIGHT FORWARDER AND CargoAi HAS NO LIABILITY IN RESPECT TO ANY eBOOKINGS. ALL TERMS AND CONDITIONS GOVERNING THE SHIPMENT OF FREIGHT AND ALL LIABILITY IS EXCLUSIVELY BETWEEN THE CARRIERS AND THE FREIGHT FORWARDER AND SUBJECT TO THOSE SPECIFIC CONDITIONS OF EACH CARRIER AND THE IATA RULES AND REGULATIONS FOR AIR CARGO SERVICES.