TERMS OF PAYMENT FOR SPOT

TERMS OF PAYMENT FOR SPOT: BUYER’S BANK WILL BE AN IRREVOCABLE, ASSIGNABLE, TRANSFERABLE AND CALLABLE CASH BACKED SWIFT WIRE TRANSFER MT103 OR IRREVOCABLE, UNCONDITIONAL, TRANSFERABLE, DIVISIBLE, ASSIGNABLE AND CONFIRMED DOCUMENTARY LETTER OF CREDIT PAYABLE 100% AT SIGHT AGAINST PRESENTATION OF SHIPPING DOCUMENTS STATED IN THE CONTRACT
THE IRREVOCABLE, ASSIGNABLE, TRANSFERABLE AND CALLABLE CASH BACKED SWIFT WIRE TRANSFER MT103/23 OR DOCUMENTARY LETTER OF CREDIT SHALL BE NEGOTIABLE AND PAYABLE AT THE SELLER’S BANK AND SHALL BE TRANSFERRED BY BUYER’S BANK DIRECTLY TO SELLER’S BANK. THE ISSUING BANK SHALL ALLOW ADDING CONFIRMATION AND ADVISING BY ANY BANK AT THE EXPENSE OF THE BUYER’S SIDE. IF THE DOCUMENTARY LETTER OF CREDIT ISSUED BY THE BUYER TO THE SELLER IS NOT IN ACCORDANCE WITH THE TERMS OF THIS CONTRACT OR WHAT IS ACCEPTABLE TO THE SELLER AND THE SELLER’S BANK, THE SELLER’S AND BUYER’S BANK MUST DISCUSS AND ATTEMPT TO RESOLVE AMICABLY ANY EVENTUAL MINOR DISCREPANCIES