Terms of service

1. Policy Statement

Cargoworld is committed to full compliance with all applicable laws and regulations governing international trade. This policy outlines the standards and procedures for ensuring that all transactions, particularly those involving export and import activities, adhere to international trade laws, including sanctions and export controls. Additionally, it establishes the company's policy regarding transaction adjustments, specifically addressing the non-refund policy and crediting for future services.

2. Scope

This policy applies to all employees, contractors, and agents of Cargoworld, as well as any other individuals or entities acting on behalf of the company.

3. Compliance with Sanctions and Export Controls

a. Prohibited Transactions: Cargoworld shall not engage in transactions involving countries, entities, or individuals that are subject to sanctions or export controls by the U.S. government or other relevant authorities. This includes, but is not limited to, direct or indirect sales, exports, re-exports, transfers, and shipments to sanctioned countries or parties.

b. Screening and Due Diligence: All transactions and business relationships must undergo thorough screening and due diligence processes to identify potential sanctions or export control issues.

c. B-Schedule Number Compliance: Special attention must be paid to the B-Schedule number of equipment and products to ensure compliance with sanctions and export control regulations.

4. Transaction Adjustments: Non-Refund and Credit Policy

a. Non-Refund Policy: In cases where a transaction is prohibited or cancelled due to compliance with sanctions or export controls, Cargoworld does not offer refunds.

b. Credit for Future Services: Instead of a refund, the funds received for such transactions will be credited to the client’s account. This credit can be used for future shipments or services provided by Cargoworld. Clients will be provided with a credit reference number for their records.

5. Reporting and Violations

a. Internal Reporting: Employees must promptly report any suspected violations of this policy or relevant laws to the Compliance Officer or through established reporting channels.

b. Investigation and Action: Reported violations will be investigated, and appropriate action will be taken in response to any confirmed violations.

6. Training and Awareness

a. Mandatory Training: All employees involved in international trade activities must undergo regular training on sanctions and export control regulations.

b. Awareness Programs: Cargoworld will implement ongoing awareness programs to ensure all staff understand their responsibilities under this policy.

7. Record-Keeping

a. Documentation: Accurate records of all international transactions and credit allocations must be maintained in accordance with legal and regulatory requirements.

8. Role of Compliance Officer

The Compliance Officer is responsible for implementing and overseeing this policy, including regular updates in line with changes in international trade laws and sanctions.

9. Review and Audit

This policy will be reviewed annually and audited regularly to ensure ongoing compliance and effectiveness.