What is Commercial practice regarding Payment of money?
This query is : Resolved
16 October 2008
We have bought machines from one company in USA, regarding payment they requested that amount should be sent to Parent company on behalf of sister company (seller company) working under parent company.
They have referred to such arrangement as accepted commercial practice in the field.
I wish to know how far such commercial practice is recognized and whether it will also holds good in international arena ?
Plz guide and support
We have bought machines from one company in USA, regarding payment they requested that amount should be sent to Parent company on behalf of sister company (seller company) working under parent company.
They have referred to such arrangement as accepted commercial practice in the field.
I wish to know how far such commercial practice is recognized and whether it will also holds good in international arena ?
Plz guide and support
17 October 2008
It is not a 'commercial practice' if you want to know whether it happens in a regular sense. It is not only risky but also not correct especially with international transactions
18 October 2008
If such things is not acceptable then..what should be done in present circumstances..
we have been already been cheated on such very ground. that after selling the product no person / company was ready for the service or guarantee/warranted purposes etc. Nor spare parts were provided. the agent in India don't owe any responsibility as manufacturing company usually change its address and contact no.s who is in abroad.
how the case should be tackled as involves international contractual relations. ?
we have been already been cheated on such very ground. that after selling the product no person / company was ready for the service or guarantee/warranted purposes etc. Nor spare parts were provided. the agent in India don't owe any responsibility as manufacturing company usually change its address and contact no.s who is in abroad.
how the case should be tackled as involves international contractual relations. ?
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