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Clear rules governing international tea export sales, payment methods, Letter of Credit standards, FOB and CIF shipping terms, and dispute resolution.
Buying Ceylon tea in bulk requires a clear understanding of international sales contracts, payment terms, and delivery obligations. This guide explains the standard trade terms, Letter of Credit (LC) rules, and dispute resolution procedures defined by the Colombo Tea Traders Association (CTTA) and the International Chamber of Commerce (Incoterms 2020).
All commercial sales agreements executed through the ceylontea.org portal are governed by the By-Laws and Conditions of Sale established by the Colombo Tea Traders Association (CTTA) and the Sri Lanka Tea Board.
Export shipments must strictly match the pre-auction catalog sample or mutually signed pre-shipment sample approved by the buyer.
Any quality or weight dispute arising from contracts shall be referred to the CTTA Arbitration Panel in Colombo, whose decision shall be final and binding.
International commercial transactions in Ceylon tea adhere to internationally recognized trade frameworks to guarantee smooth execution from auction floor bidding to deep-sea container dispatch.
100% Irrevocable L/C at sight through first-class international banks or Telegraphic Transfer (T/T) against shipping documents.
Quoted on FOB Colombo, CIF destination port, or CFR freight terms with Port of Colombo terminal handling included.
CIF contracts include Institute Cargo Clauses (A) all-risk insurance coverage up to 110% of CIF value. Force majeure situations comply with International Chamber of Commerce (ICC) standards.
TRADE ADVISORY
Obtain standardized CTTA contract templates and export terms counsel for B2B wholesale consignments.
Structure compliant export sales agreements with verified Sri Lankan exporters and CTTA registered bidding brokers.
Export contracts signed in Colombo follow the official rules and conditions of sale set by the Colombo Tea Traders Association (CTTA) and the Sri Lanka Tea Board.