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Professional foreign trade terms

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1.Terms of payment


(1) Our usual way of payment is by confirmed and irrevocable letter of credit available by draft at sight for the full amount of the contracted goods to be established in our favour through a bank acceptable to the sellers.




(2) For payment,we require 100% value,confirmed and irrevocable letter of credit with partial shipment and transhipment allowed clause,available by draft at sight,payable against surrendering the full set of shipping documents to the negotiating bank here.




(3)The letter of credit should be established with its clauses in confirmation with the terms and conditions of the contract.




(4)We usually accept payment by L/C at sight draft or by T/T in advance,but never by C.O.D.




2.Pressing for L/C


(1) As the goods against your order No.111 have been ready for shipment for quite some time,it is imperative that you take immediate action to have the covering credit established as soon as possible.




(2) We repeatedly requested you by faxes to expedite the opening of the relative letter of credit so that we might effect shipment for the above mentioned order,but after the lapse of 3 months,we have not yet received the covering L/C.




(3) We hope that you will take commercial reputation into account in all seriousness and open L/C at once,otherwise you will be responsible for all the losses arising therefrom.




(4) The shipment time for your order is approaching,but we have not yet received the covering L/C.Pls do your utmost to expedite the same to reach here before the end of this month so that shipment may be effected without dealy.




3.Amendment to L/C


(1)Pls amend the foregoing L/C to read piece length in 30 yards instead of 40 yards.




(2) We would draw your attention to the fact that the construction of our Art.No.3100S is 32X32 78X65 wheras your credit calls for 3030 78X65.Therefor,you are requested to amend the credit according to the stipulationof the contract.




(3) Pls extend the shipment date and the validity of your L/C No.111 to the end of Jan. and Feb.15,2006 respectively,and see to it that the amendment adivce will reach us before the end of Dec.2005.




(4) We have received your L/C No.111 covering the above -mentioned contract.But on checking up its clauses,we find that it calls for shipment to be effected not latter than Nov.10,2005,wheras the contract stipulates shipment Dec.2005.Pls extend the shipment date to the Dec.15th 2005 and validity to the 31st of Dec.

 

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