TT Talk - Australia - New CBFCA trading conditions

CBFCA, the Customs Brokers and Forwarders Council of Australia Inc, has revised its 2006 conditions, creating the '2009 Terms and Conditions'.

(i) inclusion of the term 'act of terrorism' in the definition of 'force majeure'.

Please use the following web link for the CBFCA national news flash 'Revised Trading Terms and Conditions':

www.cbfca.com.au/CBFCA/News/NNF/2016/NNF_2016_071.aspx

According to CBFCA, the major amendments in the 2009 Terms and Conditions are:

(a) a new definition of 'Customs' to take into account its new name;

(b) reference to 'Chain of Responsibility' legislation;

(c) a wider definition of 'Customer' with the intent to try bind more entities to the agreement;

(d) reference the proposed 'Personal Property Securities Act', which, if enacted, will have an effect on the enforcement of payment of debts;

(e) reference to the Montreal Convention 1999 on international carriage of goods by air;

(f) change to the rate of interest on late payment of fees from 24% to a rate determined by reference to the lending rate of the broker's or forwarder's bank (to ensure that, with falling interest rates, the rate charged in respect of late payment of fees is not seen as an unenforceable penalty);

(g) a new clause clearly setting out when delivery occurs;

(h) inclusion of a right of inspection of the goods; and