12. Freight and charges

1) Freight shall be deemed earned on receipt of the Goods by the Carrier and shall be paid in any event and is non-returnable. Prepayable freight and charges shall be payable at the latest upon receipt of the Goods by the Carrier, and freight and charges, if any, payable at destination shall be payable at the latest on the date when the Goods are delivered or should have been delivered. Interest at 1.5 per cent per month or in the event of mandatory national provisions, at such other rate that is compulsorily applicable, shall run from the date when freight and charges are due.
2) The Merchant’s attention is drawn to the stipulations concerning currency in which the freight and charges are to be paid, rate of exchange, devaluation and other contingencies relative to freight and charges in the relevant tariff conditions. If no such stipulation exists or is applicable the following clause to apply:
If the currency in which freight and charges are quoted is devalued or an alteration in the rate of exchange occurs with the same effect as a devaluation between the date of the Contract of Carriage and the date when freight and charges are payable, then all freights and charges shall be automatically and immediately increased in proportion to the extent of the devaluation of the said currency.
In case the Carrier has consented to payment in another currency than the above mentioned currency then all freight and charges shall – subject to the preceding paragraph – be paid at the highest selling rate of exchange for banker’s sight draft current on the day when such freight and charges are paid. If the banks are closed on the day when the freight and charges are paid the rate to be used will be the one in force on the last day when the banks were open.
3) In the event of increase in price for fuel oil, all freight rates may be adjusted in order to compensate the Carrier for increased fuel and lubricating costs as from the day of such increase.
4) For the purpose of verifying the freight basis, the Carrier reserves the right to have the contents of Articles of Transport inspected in order to ascertain the weight, measurement, value or nature of the Goods.
5) If the particulars furnished by or on behalf of the Shipper are incorrect, it is agreed that a sum equal to either five times the difference between the correct freight and the freight charged or to double the correct freight less the freight charged whichever sum is the smaller, shall be payable as liquidated damages to the Carrier notwithstanding any other sum having been stated as freight payable.
6) The Shipper shall be liable for the payment of all freights, charges and demurrage etc. payable at destination, which the Carrier cannot obtain from the receiver.
7) The merchant shall be liable for expenses of fumigation and of gathering and sorting loose cargo and of weighing onboard and expenses incurred in repairing damage to and replacing of packing due to excepted causes and for all expenses caused by extra handling of the cargo for any of the aforementioned reasons.
8) Any dues, duties, taxes and charges which under any denomination may be levied on any basis such as amount of freight, weight of cargo or tonnage of the vessel shall be paid by the Merchant.
9) The Merchant shall be liable for all fines and/or losses which the Carrier, vessel or cargo may incur through non-observance of Customs House and/or import or export regulations.