High Seas Sales Agreement Template

High Seas Sales Agreement — Standard Format

A High Seas Sale occurs when goods are sold while in transit on the ocean. Key contract elements:

Essential Clauses

PARTIES
Seller: [Name, Address, Reg. No.]
Buyer:  [Name, Address, Reg. No.]

VESSEL & VOYAGE
Vessel: [Name, IMO No., Flag]
Voyage: [Load Port → Discharge Port]
Bill of Lading: [No., Date]

GOODS
Description: [Commodity, Grade, Quantity, Packaging]
B/L Terms: [Clean, Shipped on Board, etc.]

PRICE & PAYMENT
Price: [USD/MT or other] [Incoterm: e.g., CIF, CFR]
Payment: [LC at sight / TT / DP / DA] [Down payment % if any]

TRANSFER OF TITLE & RISK
Title passes: [Upon endorsement of B/L / Upon payment / As agreed]
Risk passes: [Per Incoterm / High seas sale clause]

DOCUMENTS
Seller delivers: Original B/L (endorsed), Commercial Invoice, Packing List, Certificate of Origin, Insurance Policy (if CIF), [Other].

WARRANTIES
Seller warrants: Good title, goods as per B/L description, no liens.
Buyer warrants: Payment capability, import compliance.

GOVERNING LAW & DISPUTES
Law: [Country/Jurisdiction]
Arbitration: [ICC / LCIA / SIAC / Ad hoc] [Seat] [Language]

FORCE MAJEURE
Standard clause covering war, strikes, acts of God, gov't actions.

SIGNATURES
Seller: ___________________ Date: _____
Buyer:  ___________________ Date: _____
Witnesses: __________________________

Critical Notes

• Endorsement of **Original Bill of Lading** is the key act transferring title.
• Notify carrier & insurer of sale.
• Check letter of credit terms (if used) — may restrict high seas sales.
• Incoterms 2020: Use FCA, CPT, CIP for flexibility.