Part shipments / payment procedure
Post 1 of 2
Hi,
I am a newbie to L/C's (and also to this forum) and this question may be simple to you; but any advice from you'll experts would be much appreciated.
In a 100% L/C "at sight" in which part shipments are allowed how is the payment against the part shipments - in parts as per each partial invoice? And what happens if at the end the balance / last shipment is not sent for some reason? I do not want to be in a position where the supplier has been paid the full amount, but has not made all the deliveries.
And if the material is machinery where the part shipment cannot be separately valued how do they make the invoices for each partial shipment?
Thanks
Clive
I am a newbie to L/C's (and also to this forum) and this question may be simple to you; but any advice from you'll experts would be much appreciated.
In a 100% L/C "at sight" in which part shipments are allowed how is the payment against the part shipments - in parts as per each partial invoice? And what happens if at the end the balance / last shipment is not sent for some reason? I do not want to be in a position where the supplier has been paid the full amount, but has not made all the deliveries.
And if the material is machinery where the part shipment cannot be separately valued how do they make the invoices for each partial shipment?
Thanks
Clive
22 Mar 2008 04:21
Post 2 of 2
Replying to [clivem03]: answered in your first post.
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22 Mar 2008 18:47
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