Shipping & Incoterms Policy

This Shipping & Incoterms Policy (“Policy”) defines how products sold by GBCORP, its subsidiaries, and affiliated group companies (“GBCORP”, “we”, “our”, “us”) are delivered, how risk transfers, and which party is responsible for freight, insurance, duties, and taxes.

By placing an order, the buyer agrees to these terms.

1) Shipping Scope

We ship globally where legally permitted. Availability of destinations may vary depending on export controls, sanctions, product classification, and carrier limitations.

2) Governing Trade Rules

Unless otherwise agreed in writing, international deliveries follow the principles of Incoterms® issued by the International Chamber of Commerce (ICC).

The specific Incoterm applicable to your order will be stated on the quotation, proforma invoice, or commercial invoice.

3) Default Incoterms by Order Type

Small parcels / e-commerce shipments

Typically supplied under:

DAP – Delivered At Place
Buyer pays import duties, VAT, customs clearance, and local handling.

Courier or postal delivery

Risk transfers upon handover to the carrier.

Freight / pallet / container shipments

Usually one of the following depending on contract:

• EXW – Ex Works

• FCA – Free Carrier

• FOB – Free On Board

• CIF – Cost, Insurance & Freight

• DAP / DDP where explicitly quoted

If not specified, GBCORP reserves the right to select the most appropriate term.

4) Transfer of Risk

Risk of loss or damage transfers according to the Incoterm stated in the sales documentation.

Once risk has transferred, claims must be made against the carrier or insurer.

5) Shipping Charges

Shipping fees shown at checkout or in quotations may include:

• Freight

• Handling

• Packaging

• Export documentation

They generally do not include import duties or local taxes unless DDP is explicitly agreed.

6) Customs, Duties & Taxes

For international orders, the buyer is normally responsible for:

• Import duties

• VAT / GST

• Customs brokerage

• Port or terminal charges

• Local regulatory inspections

Failure to pay these may result in delays, storage fees, or return/destruction of goods without refund.

7) Delivery Times

Transit estimates are indicative, not guaranteed.

Delays may occur due to:

• Customs clearance

• Carrier disruptions

• Weather

• Regulatory approvals

• Force majeure

Such delays do not constitute grounds for cancellation or compensation.

8) Failed Delivery / Refusal

If the buyer:

• Refuses delivery, or

• Fails to complete customs requirements,

we may deduct freight, return charges, duties, penalties, and administrative costs from any refund.

9) Inspection on Arrival

Customers must inspect shipments immediately.

Damage or shortages must be reported within 48 hours with photographic or video evidence.

Failure to notify may invalidate claims.

10) Special & Project Cargo

Engineered systems, solar materials, architectural components, or customized industrial products may require:

• Special packaging

• Crating

• Export permits

• Pre-shipment inspections

Additional costs may apply.

11) Title to Goods

Ownership may remain with GBCORP until full payment is received, even if risk has transferred earlier.

12) Insurance

Insurance coverage depends on the agreed Incoterm.

If insurance is required beyond standard terms, it must be requested before shipment and may incur additional charges.

13) Sanctions & Export Compliance

Shipments are subject to export regulations. We may cancel or suspend orders if compliance risks arise.

14) Contact

Shipping Department – GBCORP
[email protected]
https://gbcorp.org

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15) Restricted Destinations & Sanctions Compliance

GBCORP does not ship to destinations subject to comprehensive sanctions administered by the United States Office of Foreign Assets Control (OFAC), the European Union Consolidated List, the United Kingdom HM Treasury, or the United Nations Security Council. This includes (without limitation) Cuba, Iran, North Korea, Syria, the Crimea region, and the so-called Donetsk and Luhansk People's Republics.

Orders to restricted destinations will be cancelled and refunded. We may decline any order if delivery would violate applicable trade-control law.

16) Hazardous & Dangerous Goods

Certain GBCORP products — including but not limited to lithium-ion batteries, energy-storage modules, electric vehicle components, solar inverters with embedded batteries, and certain robotics platforms — are classified as dangerous goods under IATA, IMDG, ADR, or equivalent regulations.

Dangerous goods are shipped only via qualified carriers and may be subject to:

• Additional handling and documentation fees
• Restricted air-freight or sea-freight-only routing
• UN-specification packaging requirements
• Country-specific import licences or notifications

Estimated delivery times for dangerous-goods shipments may be longer than standard. Specific carrier and routing options will be confirmed before despatch.

17) Lost-in-Transit Process

If a tracked shipment has not been delivered within 14 calendar days of the carrier's estimated delivery date, contact [email protected]. We will:

• Open a tracer with the carrier and request a search
• Provide a status update within 5 business days
• On confirmation of loss, issue a replacement or refund at the customer's choice (subject to insurance coverage and Incoterm)

18) Partial Shipments

Multi-line orders may be shipped in two or more consignments at no additional cost. The risk and title rules of the agreed Incoterm apply separately to each consignment.