CargoWALLET Terms and Conditions
CargoAi PTE LTD (“CargoAi”) is offering a cloud solution, called CargoMART services that procures an e-purchasing & e-freight servicing platform service, allowing air cargo capacities online sales & distribution through rates publication, display of flight schedules & bookable options, electronic freight service 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-freight services via the e-freight service platform service through the Payment Service Providers, partnered with CargoAi and branded as CargoWALLET. Freight Forwarders who make e-freight services 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 e-freight service 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, Carriers, Partner Agents and any other Providers; CargoAi is not liable to Freight Forwarders, Carriers, Partner Agents or any other Providers in connection with cargo and associated services rendered in connection with e-freight services via the e-freight services 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.
Freight Forwarders may deposit funds as Prepayment of the e-freight services to CargoAi in one or more currency available in CargoWALLET. Freight Forwarders may use the Prepayment funds to make payment of e-freight services in the CargoAi Platform; funds will be reimbursed to Freight Forwarders should they decide to no longer utilize CargoWALLET.
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 e-freight services 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, Partner Agents, and any other Providers will be paid in the currency in which prices were quoted and booked unless otherwise requested by Carriers, Partner Agents, and any other Providers.
Carriers, Partner Agents, and any other Providers will issue invoices to CargoAi for the freight services rendered pursuant to e-freight services whenever Freight Forwarders choose to pay via CargoWALLET. CargoAi will make payments to Carriers, Partner Agents or any other Providers through Payment Service Providers based on the agreed payment schedule with Carriers, Partner Agents, or any other Providers after the services of the invoices are successfully rendered by Carriers, Partner Agents, or any other Providers. CargoAi will issue invoices to Freight Forwarders based on the invoices received from Carriers, Partner Agents, or any other Providers. CargoAi and Payment Service Providers do not alter or affect the relationship between Freight Forwarders, Carriers, Partner Agents, and any other Providers; CargoAi is not liable to Freight Forwarders, Carriers, Partner Agents, or any other Providers in connection with cargo and associated services rendered in connection with e-freight services via the e-freight services Platform.
When Freight Forwarders choose to make payment of their e-freight services via CargoWALLET Prepaid payment, immediately the funds of Buyer’s Prepayment will be on hold with additional amount of the quoted e-freight service amount instructed by CargoAi. Once e-freight service is confirmed by Carrier, Partner Agent or any other Provider, funds on hold will be deducted from the Buyer’s Prepayment funds and their balance will be updated. In case e-freight service 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 e-freight services. After freight services rendered pursuant to e-freight services, 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, Partner Agents, or any other Providers). 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 e-freight services is more than the final freight service amount, CargoAi will refund the difference to Freight Forwarders.
CargoAi and its Service Provider may at their sole discretion offer some Freight Forwarders payment terms in connection with e-freight services which allows Freight Forwarders to pay the freight services to CargoAi based on allowed amount and agreed payment due date by CargoAi. This will be based on credit reports, financial condition, credit history and business prospects or such other information as CargoAi and its Service Provider may deem appropriate. Freight Forwarders acknowledges that CargoAi provides no assurance that available allowed amount and agreed payment due date will be established for Buyers, or it will be maintained if granted.
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 e-freight service with payment terms. The calculation of such PayLater amount shall include the outstanding amounts of all purchases Freight Forwarders has made under the e-freight services, 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, Partner Agents, or any other Providers. Freight Forwarders will also incur late fees as per 8.
Freight Forwarders, Carriers, Partner Agents, and any other Providers will need to resolve any disputes that may arise between them. CargoAi will assist Freight Forwarders, Carriers, Partner Agents, and any other Providers to resolve any such disputes by providing them with information from the platform about the provision of services pursuant to an e-freight service. For CargoAi to provide that assistance, Freight Forwarders, Carriers, Partner Agents, and any other Providers 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 e-freight services. 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.
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.
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 e-freight services 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 freight service. 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.
Terms and Conditions of Carriers, Partner Agents, and any other Providers
Freight Forwarders have the responsibility to review the terms and conditions of each Carrier, Partner Agent or any other Provider providing services under any e-freight services.
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.
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 E-FREIGHT SERVICES ARE BETWEEN THE CARRIERS, PARTNER AGENTS, ANY OTHER PROVIDERS AND THE FREIGHT FORWARDER AND CARGOAI HAS NO LIABILITY IN RESPECT TO ANY E-FREIGHT SERVICES. ALL TERMS AND CONDITIONS GOVERNING THE SHIPMENT OF FREIGHT AND ALL LIABILITY IS EXCLUSIVELY BETWEEN THE CARRIERS, PARTNER AGENTS, ANY OTHER PROVIDERS AND THE FREIGHT FORWARDER AND SUBJECT TO THOSE SPECIFIC CONDITIONS OF EACH CARRIER, PARTNER AGENT, ANY OTHER PROVIDER AND THE IATA RULES AND REGULATIONS FOR AIR CARGO SERVICES.
FREIGHT FORWARDER ACKNOWLEDGES THAT CARGOAI IS NOT A MONEY TRANSMITTER AND THAT CARGOAI WILL NEVER RECEIVE OR STORE MONEY OR MONETARY VALUE FOR TRANSMISSION. ALL MONEY AND MONETARY VALUE WILL BE RECEIVED, STORED, AND TRANSMITTED THROUGH THE PAYMENT SERVICE PROVIDER.