Payment Terms: Telegraphic Transfer (T/T) to Bank Account

1. Advance Payment for Order Confirmation: (40%)

• The Buyer is required to make an advance payment of 40% of the total order value to confirm the order and allow the Seller to commence production immediately.

• This advance payment can be made via Telegraphic Transfer (T/T) or any other mutually agreed upon method.

2. Remaining Balance via Telegraphic Transfer (T/T) to Bank Account: (60%)

• The remaining 60% of the total order value must be settled through Telegraphic Transfer (T/T) directly to the Seller’s bank account.

• The Buyer must execute the transfer for this remaining balance upon the Seller’s completion of production and notification of Shipment Readiness.

• Collection of Payment: This 60% balance must be received by the Seller in full before the shipping documents are released to the Buyer or the carrier.

• Payment Timeline: Payment should be made within 15 days of receiving the Notice of Shipment Readiness from the Seller.

Payment Terms : Irrevocable, Non-Transferable, Payable at Sight Letter of Credit (L/C)
Payment shall be made in two installments :

1. First Installment (40%)
   • Amount: Forty percent (40%) of the total contract value
   • Condition: Payable at sight immediately upon presentation of the following documents, after signing the Sale and Purchase Contract:
   • Full Corporate Offer (FCO) / Proforma Invoice / Commercial Invoice
   • Note: This installment confirms the contract execution and activates the L/C.
2. Second Installment (60%)
   • Amount: Sixty percent (60%) of the total contract value
   • Condition: Payable against issuance of all shipping documents copies, including but not limited to:
   • Bill of Lading (B/L)
   • Packing List
   • Certificate of Origin
   • Insurance Certificate (if applicable)
   • Any other documents stipulated in the contract
3. Bank Charges: All banking fees and charges related to the opening and operation of the L/C shall be borne by the Buyer.

Procedure

• Buyer and Seller sign the Sale and Purchase Contract.
• Buyer opens an Irrevocable, Non-Transferable, Payable at Sight L/C covering 100% of the contract value within fourteen (14) calendar days from the date of signing the Sale and Purchase Contract.
• Seller submits FCO and Proforma Invoice / Commercial Invoice → Seller’s Bank claims the First Installment (40%).
• Seller arranges shipment and prepares all required shipping documents.
• Seller’s Bank presents the complete set of shipping documents copies → claims the Second Installment (60%) under the L/C.
• Buyer is responsible for all banking fees and charges related to the L/C.
• Original Documents Courier : The Seller shall send all original documents to the Buyer via DHL / FedEx for the purpose of cargo release.

Upon completion of both installments, the contract is deemed fully executed.