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The payment terms have nothing to do either closely or from afar partial shipments

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Thu, 07/01/2010 - 13:37
islamhagar
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Joined: 06/25/2010
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Hello gents , Our company needs to open one L/C , the total for this L/C = USD 30,000.00 , this order includes USD 20,000.00 for materials and USD 10,000.00 for installation , and the payment terms for this L/C will be as per the below , 1-    USD 20,000.00  after receiving the materials 2-    USD 5,000.00 at sight after submit the invoice 3-    USD 5,000.00 after the installation and submit the certificate to the bank signed by the applicant . And all of these materials for this PO will be shipped to us in one shipment , That is why I put in the draft L/C partial shipment : Not allowed , and the supplier asked me , please make partial shipment so I can get partial payment  He told me if you put partial shipment : Not allowed I can’t submit  any invoices to the bank to get the partial payment  , and I told him The payment terms have nothing to do either closely or from afar partial  shipments , 

Please advise on the same issue ,

Regards  Abdulmoenimn

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Sun, 07/04/2010 - 22:38
#1
LoveR
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Joined: 06/22/2010
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Having a stable business

Having a stable business does not guarantee a complete and total fulfillment of one's career.Along the way,you will still encounter some problems.The SBA, Small business Administration, has supported unsecured loans to small business to help them through this recession. They give their support by backing the banks that are providing these loans in case of defaults, making banks more comfortable to loan the cash. The Company is almost out of the funds entirely. This economic downturn has lasted so long that people are starting to accept it as a way of life and are adjusting their life's to be in accordance with the new overall economy.

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Sat, 07/03/2010 - 20:04
#2
deneessn
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Joined: 04/09/2010
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Hi ,

Partial drawings are allowed under this credit as per the payment terms and only partial shipment is prohibited. So the beneficiary can make 3 partial drawings for 20K,5K and another 5K Dollars

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Fri, 07/02/2010 - 11:06
#3
Abrar
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Joined: 03/12/2009
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Partial drawings

The LC is available in stage payments, one of which relates to physical shipment of goods. As you indicate, there is a difference between partial shipments, and partial drawings. As it stands, with partial shipments being disallowed, this would not preclude presentations in respect of the other milestones. As the LC clearly provides for partial drawings, there should not be any confusion on this front. However, to draw the distinction, I would state partial shipments as not being allowed in the relevant field, and under 'Additional Conditions', I would state, 'Partial Drawings allowed'.

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Sat, 07/03/2010 - 06:01
#4
anilkg
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Joined: 04/23/2010
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Partial payment

As per the comments from Mr. Abrar, is it possible to make three drafts for three payment stages with one shipment?

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Fri, 07/02/2010 - 10:01
#5
islamhagar
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Joined: 06/25/2010
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Till now no comments

where are the comments ?

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