What are high Sea Sales?

Define High Sea Sales

 

High Sea sales (HSS) is a sale carried out by the carrier document consignee to another buyer while the goods are yet on high seas or after their dispatch from the port/ airport of origin and before their arrival at the port / airport destination that is, while it is in transit.

In this, the ownership of goods is transferred, when items are on transit. HSS contract should be signed after dispatch of goods from origin and before their arrival at destination. The date of transaction must be between Bill of lading date and Vessel arrival date at Port of discharge. High Sea Sale is done mostly by Traders, who buys in bulk quantity and then look out for buyers at Destination

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