Export payment advice
This query is : Resolved
20 August 2011
Hi.
I am acting as a sales agent with a chinese company where i take order from indian companies and they supply it ; My question is
1) what are the safe options for payment terms if i take 50 % advance by T/T from the indian company and bal. amount i want to give by T/T when chinese Co puts the goods in the ship, what simple and uncomplicated process should follow ? (i want to get rid of the documents as far as possible)
2) Please also suggest an easy hassel free other option.
thanks
ashwin
awinon@rediffmail.com
Hi.
I am acting as a sales agent with a chinese company where i take order from indian companies and they supply it ; My question is
1) what are the safe options for payment terms if i take 50 % advance by T/T from the indian company and bal. amount i want to give by T/T when chinese Co puts the goods in the ship, what simple and uncomplicated process should follow ? (i want to get rid of the documents as far as possible)
2) Please also suggest an easy hassel free other option.
thanks
ashwin
awinon@rediffmail.com
U S Sharma
(Expert)
20 August 2011
get in touch with foreign exchange department of your banker, certain procedure is to be maintained by bank for advance payment,
instead a letter of credit is better option, but its little bit expensive.
instead a letter of credit is better option, but its little bit expensive.
RAMESH KUMAR VERMA
(Expert)
20 August 2011
AGREE WITH MR. SHARMA JI AND PLEASE ISSUE IEC CODE CERTIFICATE TOO.
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