IT IS VERY IMPORTANT THAT BOTH PARTIES UNDERSTANDS THE IMPORTANCE OF THE TYPE OF LETTER OF CREDIT TO USE AND WHY.

 

1. STANDBY LETTER OF CREDIT (SBLC) VIA MT760

STANDBY LETTER OF CREDIT (SBLC) AS A BANK GUARANTEE, IRREVOCABLE, CONFIRMED, DIVISIBLE, ASSIGNABLE, REVOLVING, NON-TRANSFERABLE, FUNDED FOR XXX DAYS AS CONTRACT TERM.

FINAL PAYMENTS, PAYABLE AT SIGHT BY MT103 BANK TRANSFER WITHIN THREE (3) DAYS AT LOADING PORT AGAINST ALL SHIPPING DOCUMENTS, COMMERCIAL INVOICE AND (SGS) INSPECTION DOCUMENTS.

THIS PAYMENT TERM IS MOST FAVORABLE FOR YEAR CONTRACTS DUE TO ALL THE OPERATIONAL COSTS THAT MUST BE PREPAID IN ADVANCE.

 

2. DOCUMENTARY LETTER OF CREDIT (DLC)

DOCUMENTARY LETTER OF CREDIT (DLC) IRREVOCABLE, CONFIRMED, REVOLVING, DIVISIBLE, ASSIGNABLE, REVOLVING, NON-TRANSFERABLE, FUNDED FOR XXX DAYS AS CONTRACT TERM.

FINAL PAYMENTS, PAYABLE AT SIGHT BY MT103 BANK WIRE TRANSFER WITHIN THREE (3) DAYS AT LOADING PORT AGAINST ALL SHIPPING DOCUMENTS, INVOICE AND SGS DOCUMENTS.