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.

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