Payment Terms

PAYMENT  BY  IRREVOCABLE,  CONFIRMED,  NON-TRANSFERABLE,  DOCUMENTARY  LETTER  OF CREDIT,  PAYABLE  100%  AT  LOADING  PORT  AFTER  PRESENTATION  OF  THE  RELEVANT  SET  OF SHIPPING DOCUMENTS.

Documentary L/C has to be issued or confirmed by TOP 25 WORLD  PRIME BANK. L/C issuance and confirmation charges are on buyer’s account.

PERFORMANCE BOND:     2% OF THE LETTER OF CREDIT VALUE              
INSURANCE:                        110% TO BE COVERED BY THE SELLER
INSPECTION:                       SGS IN LOADING PORT AND AT SELLERS COST, INSPECTION OF THE  RESPECTIVE SHIPPING VESSEL(S) AND SHALL ISSUE ITS CERTIFICATE OF HOLD AND HATCH CLEANLINESS AND CERTIFICATE OF RADIOACTIVITY.
PRODUCT DELIVERY:      THE LOADING OF THE VESSEL WILL COMMENCE AND SHOULD BE LIFTED WITHIN 30 DAYS AFTER RECEIPT OF THE BUYER’S PAYMENT INSTRUMENT.
PROOF OF PRODUCT:      SHALL BE PROVIDED BY SELLER BY SWIFT BANK TO BANK AFTER NON-OPERATIVE PAYMENT INSTRUMENT IS ISSUED BY THE BUYER.
LOADING PORT VISIT:     AFTER THE CONTRACT IS SIGNED AND THE FINANCIAL PAYMENT INSTRUMENTS ARE OPENED TO THE SELLER, THE SELLER WILL ARRANGE FOR THE BUYER A VISIT AT THE LOADING PORT TO CHECK THE LOADING OF THE VESSEL. THE BUYER WILL PAY ALL EXPENSES RELATED TO THIS VISIT.