Storage Period

Storage Period refers to the length of time goods are stored in a warehouse, commonly used in international trade and logistics. It involves the allocation of responsibilities among the seller, buyer, carrier, and warehouse operator. Under trade terms such as FOB and CIF, the storage period may affect risk transfer and cost bearing: for example, if the buyer designates the warehouse, the storage fees and risks during the storage period are borne by the buyer; if the seller is responsible for storage, the free storage period must be clearly defined. Usage scenarios include: letters of credit requiring submission of storage certificates, agreements on free storage period at ports, and overdue storage fees incurred due to customs clearance delays. Note: The storage period is different from the 'free storage period' (Free Time), which is the period during which no fees are charged; it is also different from 'shelf life', which pertains to product quality. Foreign trade practitioners should specify in the contract the start and end dates of the storage period, fee standards, and responsible party to avoid additional costs or disputes due to overdue storage. Additionally, the storage period may affect insurance claims and must be matched with insurance terms.