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Hi friends,
how are you?
Hereby i want to say something about the L/C payment term. At present, most of our business are paid by L/C, because this is a safest way for both buy and seller. But it still have some risks.
L/c is based on the credit of bank. First, we need to choose well-known bank or skillful with L/C operation as issue bank. On the one hand, this will be benefit to the buyer to protect from exporter's fraud, on the other hand, this can help the buyer from lose of goods payment since bankruptcy of issuing bank.
Also , there are other rosks for both buyer and seller under L/C. And welcome every friend to share with us here.
Thanks ,
Monica
Dingxiang Beicheng Flange Co., Ltd.
Kunshan, China
Free Member, Joined :06/06/2006
No of Topics Posted : 1
Reply/Comments : 3
Dear Friend,
Have a nice day! From my point of view I think that L/c 60 days satisfy the two parts. What is your opinion?
El-Obour Modern Pharmaceutical Co.
Cairo, Egypt
Free Member, Joined :06/17/2007
No of Topics Posted : 0
Reply/Comments : 1
Dear friend, this will be good way to solve the rist of buyer. However, exporter will have more risk.
We are a exporter in China. From now, we have not ever done busiess with custome by this payment term. Becauase if the counter parter is a new customer, this payment term means more risk to us. If old customers, this means more bank fee than T/T.
Thanks for your kind reply.
Dingxiang Beicheng Flange Co., Ltd.
Kunshan, China
Free Member, Joined :06/06/2006
No of Topics Posted : 1
Reply/Comments : 3
LC is the safest payment term for both buyer and sellers, As a seller you must ensure that the terms and conditions mentioned in the LC are in line with your discussion, you can also quote the delivery as after ___ days of receipt of technically and commercially clear purchase order, this way you will check the LC and when you accept the LC from the day you can process the order. Further you can also get LC discounted from your bank.
Free Member, Joined :10/04/2005
No of Topics Posted : 16
Reply/Comments : 54
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