Payment:

For annual contract:

  • Buyer-Bank shall issue a transferrable Bank-Guarantee / SBLC / LC, covering a one month’ quantity and being valid till end of contract + 1 month.
  • Each invoice shall be paid by an irrevocable, transferrable letter of credit, covering a monthly quantity or by MT 103 against documents as per contract.
  • Credit available by negotiation of documents at Seller’s Bank-Counter.
  • Letter of Credit shall be opened by Prime Bank acceptable to Seller / Seller-Bank.

For spot lots:

  • By irrevocable transferable letter of credit, payable 100% at sight covering total quantity contracted.

Performance bond:

Where applicable.

Shipping time

Approximately 30 days after availability and acceptance of funds

SGS inspection (quality, quantity) at port of loading

At seller’s expense

SGS inspection (quality, quantity) at port of unloading

At buyer’s expense