Documents required for payment using L/C for trade under FOB
Post 12 of 92
Replying to [kai1]:
Dear kai1, I work in Japan, and I usually import from China. Maybe the FOB and CIF is confusing you.
I dont know what is your situation, in my case CIF and FOB has nothing to do with the issuing of BL. BL is issued by the shipping agent to whoever is handing the shipping.
So, in my case, my seller Chinese is handling the shipment. I sent my LC docu to him. He uses this LC docu to process the BL docu from his shipping agent. He must fax the BL to me. Lastly, my custom agent uses this BL and other docu to retreive my goods from the port.
Is this not the way it is suppose to be?
SIGNATURE:
About Our Company
RYU MEI CO LTD
Ryu Mei is a health and food trading company in Kobe, Japan. Ryu Mei a Japanese food specialist company with products like Kurobuta (Berkshire) , Wagyu (Kobe Beef) , Shochu, Organic Green Tea and Black Vinegar Ku...
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Post 13 of 92
Replying to [Thomas1976]:
Thomas,
That's exactly what I have said: The party arranging the shipment is issued with the B/L.
So when I buy CIF on L/C terms, the seller (who arranges shipping) can give me a B/L as called for under my L/C.
However, if I buy FOB on L/C terms, I will be arranging for the shipment and the B/L is issued to me, so what documents should I ask from the seller in my of L/C.
Post 15 of 92
Replying to [kai1]:
A little bit strange situation.......
In this case nothing except the invoice, P/L, certificates, lab results etc.......You supplier must provide all this or else you cannot clear the port. In addition, to be on the safe side, you have to fax the BL to him too whether he needs it or not. My rule is that both parties must have the same documentation especially when something can go wrong, and both parties must have the same information.
SIGNATURE:
About Our Company
RYU MEI CO LTD
Ryu Mei is a health and food trading company in Kobe, Japan. Ryu Mei a Japanese food specialist company with products like Kurobuta (Berkshire) , Wagyu (Kobe Beef) , Shochu, Organic Green Tea and Black Vinegar Ku...
More
Post 16 of 92
Replying to [newdog]:Sorry,but is wasting time if someone start to explain you from A-Z all trading terms.You will find here all informations you need.Just read with attention.
Post 17 of 92
Replying to [Thomas1976]:
Thomas,
There is nothing unusual or strange here. Maybe you just did not catch my exact enquiry.
I suggest we take our discussion between us offline (through email) for faster communication.
Regards,
Post 18 of 92
Replying to [kai1]:
You can TM me. Cannot give email. LOL.
SG = Singapore?
SIGNATURE:
About Our Company
RYU MEI CO LTD
Ryu Mei is a health and food trading company in Kobe, Japan. Ryu Mei a Japanese food specialist company with products like Kurobuta (Berkshire) , Wagyu (Kobe Beef) , Shochu, Organic Green Tea and Black Vinegar Ku...
More
Post 19 of 92
Replying to [kai1]: The only suggestion I have is that request an SGS inspection certioficate before paymant and shipping
Geoffrey
Post 20 of 92
Replying to [kai1]: FOB is free on board. if you as seller will put goods on board who will get the bill of lading. you obviously. the shipper will be arranged by buyer though. i guess you are confusing with FAS (free alongside ship) .
Post 21 of 92
Replying to [kai1]: Usually importer finalize price on FOB or CNF basis and if you finalize price on FOB base still buyer have to provide you all documents except B/L but it's very difficult to have someone one the side of seller that collect B/L and payment made on your behalf to shipping company. So, Usually on FOB base total value + shipment charges that suit you = Total shipment and material charges/cost and seller pay and received B/L and he as to send you for confirmation with all documents