Payment Method

Payment Method: Telegraphic Transfer (T/T) or Direct Bank Transfer

Terms:

• 50% Deposit: Required to confirm the order/purchase.

• 50% Balance: Due prior to the shipment of goods.

Payment Terms – Irrevocable Transferable L/C at Sight (2 Installments)

L/C Validity: 60 Days

1st Installment – 30% Payment

Buyer shall pay 30% of the total invoice value at sight under an Irrevocable Transferable Letter of Credit (L/C) immediately upon presentation of the following:

• Commercial Invoice
• Pre-shipment and logistics expense coverage required to initiate product preparation.

Upon receipt of the 30% payment under the L/C:

• The Seller shall proceed with product preparation.
• The products shall be packed and transported to the loading port for shipment within 15–20 days from the date the Seller receives the payment under the L/C.
• The Seller shall provide the Buyer with all copies of shipping documents, including the container number.

2nd Installment – 70% Payment

Buyer shall pay the remaining 70% after inspection at the destination port.

• The packing and loading of the next shipment shall begin immediately after the Buyer confirms receipt of the first shipment.

Bank Charges

• All banking charges, fees, and costs are to be borne by the Buyer.

Procedures

1. Within 3 days after signing the Sale and Purchase Contract (SPA), the Buyer must issue an Irrevocable Transferable L/C at Sight.
2. Issuing Bank Requirement:
   The Letter of Credit must be issued by a Top Tier 1 Commercial Bank acceptable to the Seller.