FAQ

Question (1)

The question is when do you expect us to pay. gainst  after  shipment or while the cathodes are still in the warehouse?

Answer (1)

Please refer clause 15 of Section IV, General Conditions of Contracts. Under  clause 15.2, Seller will request for payment accompanied by invoices. Under clause 15.3 the Buyer would be required to make the payment by Telegraphic Transfer (TT) within 3 days after receipt of the invoices.

Therefore payment is to be made not against BL and need to be made before shipment.

Seller needs payment in advance of BL because by Government regulations, Export Licence can be applied by Seller after only receipt of TT payment.

It is estimated that Export Licence would be obtained approximately two weeks after the receipt of the Buyer’s TT payment