TERMS OF PAYMENT FOR LONG TERM

TERMS OF PAYMENT FOR LONG TERM: Payment in this contract will be done, as following: The Contract is secured with stand by letter of credit (SBLC or BG) transferable, divisible, negotiable to cover 30% of full contract valid for 12 months and 15 days. It will be returned at maturity day or cashed by the last deliveries Payment will be through ARDLC Irrevocable, Auto-Revolving, Transferable, Divisible, Confirmed and Documentary LC issued in the total amount of contract revolving in the monthly correspondent amount of for every and all shipment as indicated in addendum A, issued or confirmed by Top 25 bank, 100% payable at sellers bank, at sight, against presentation of shipment documents, as per contract OR BY SWIFT MT103 PER SHIPMENT 100% payable at sellers bank, at sight, against presentation of shipment documents Note: the buyer shall present the draft of his selected payment instrument for approval by the seller and seller’s bank. If the buyer’s bank are not top 25 bank , a confirming bank in such class must be provided UCP 600 latest terms must apply Copyright © 2008.