Payment of Export Document Conditions on CAD Basis

[V.K. Jain]

<URC522>

There are following two option of payments for Export document to be received by Exporter After loading of the stuffed containers or vessel in break bulk/Bulk into vessel at loading port: Buyer and seller to be mutually agreed one of the following terms and conditions

A) To pay to sellers (Exporter) to his designated bank account by telegraphic transfer (Via TT) not later than 2 (two) working days after receiving faxed/emailed copies of the shipping documents to buyer (Importer)

On receipt of funds, Sellers will dispatch the original documents to the Buyer nominated addresses.

OR

B) To pay into the bank account indicated by the Seller in its commercial invoice(s) basis Cash Against Documents with 2 (two) banking days of presentation of the shipping documents.

This terms and conditions apply in accordance with the ICC uniformed rules for collections (URC 522)

In this case Bank mostly pay after confirmation of buyer and goods received.

Conclusion

Buyer and seller to choose one option for transaction for export proceed.