Terms of Business

Regulations — the governing document that establishes the framework under which Orders are submitted by the Buyer and fulfilled by the Seller through the Trading Platform.

To initiate a reservation, the Buyer accesses the Trading Platform and selects the desired Goods. The Buyer then provides the necessary identification details — including company name, registered office address, and tax identification number — and chooses a preferred delivery method. Before finalizing, the Buyer must acknowledge acceptance of these Regulations and provide consent to personal data processing in line with the Privacy Policy, both confirmed by checking the designated boxes. The Order is completed by clicking the "Book the product" button.

A Reservation Agreement between the Seller and the Buyer takes effect at the moment the Order is successfully submitted.

Following confirmation of the Order, an accounting document covering the Reservation Fee is issued and delivered to the Buyer's registered email address.

Once the Reservation Fee is received by the Seller, both Parties are expected to engage in good-faith negotiations toward concluding a Sales Agreement. The Seller will initiate contact within two working days of receiving the payment, with the Sales Agreement to be finalized within five working days of that same date. These obligations are contingent upon the Buyer's payment of the Reservation Fee.

Should the Sales Agreement be successfully concluded, the Reservation Fee is applied as a credit toward the total Price. If the agreement fails to materialize due to the Seller's actions or force majeure, the Reservation Fee is returned to the Buyer within five working days following the expiry of the conclusion deadline. In all other cases, the Reservation Fee remains with the Seller.

When working with FoodiGlobal, understanding the available payment methods and terms is essential for a smooth and secure transaction.

Why B2B Payments Differ

B2B payments involve transactions between two businesses for goods or services. Unlike consumer payments, B2B transactions are typically larger in volume, often recurring, and involve multiple departments such as procurement, accounts payable, and accounts receivable. Payment cycles also tend to be longer, and industry-specific requirements may apply.

1. CAD — Cash Against Documents

CAD is a secure payment method in which the importer pays for the goods before receiving them. A trusted third party (usually a bank) holds the shipping and ownership documents until the buyer completes the payment. Only after payment is received are the documents released to the importer, allowing them to take ownership of the goods.

This method works similarly to an escrow in real estate transactions. It protects both sides: the exporter is guaranteed payment, and the importer is assured of receiving the goods as agreed. Even while documents are held by the third party, ownership of the goods remains with the exporter until full payment is made.

2. Collection

Collection is a conditional payment method where a bank or authorized financial institution collects the specified amount on behalf of the seller. The bank releases the shipping and commercial documents (such as invoices, certificates of origin, bills of lading, and insurance documents) to the buyer only after the agreed conditions are met.

For the seller, this method allows control over the goods until payment or acceptance of the documents. For the buyer, it provides the advantage of inspecting the goods upon arrival and, in cases of deferred payment collection, the possibility of obtaining short-term trade credit.

3. LC — Letter of Credit

A Letter of Credit is a bank-issued guarantee that payment will be made to the exporter once all terms and conditions specified in the LC are fulfilled and the required documents are presented. The buyer arranges the LC through their bank, which assumes the payment obligation on their behalf.

This method is particularly useful when reliable credit information about the buyer is limited, but the exporter trusts the issuing bank. It also protects the buyer, as payment is only triggered after the goods have been shipped according to the agreed specifications.

Payment Deadlines and Terms

FoodiGlobal typically structures transactions with payment terms aligned closely to the shipment date. The most common approach is prepayment, often combined with a down payment to ensure a smooth process for both parties. Every transaction can be tailored to your specific needs while maintaining full transparency.