I've been searching the web for an answer for my question, but I've found different answers and I'm a little confused, and I'd like to know for sure.
I'm paying 30% T/T deposit and the the "balance against B/L copy".
When do I pay the balance? When I see the goods and show my B/L copy here at the destination port in Sweden in cash to the transporter? Or T/T when the cargo is on the freight in China?
Someone said in this forum that I should pay balance using T/T once I see a scanned/faxed copy of the exporters B/L with a stamp "ON BOARD". Is this correct?
Oh, another thing - does the B/L cost anything extra, some extra free I should know of? Anything else that's easy to miss? I'm a first-timer.
Thank you very much on beforehand, appreciate an answer
Quoting from [mJohnsson]:
Hi,
I've been searching the web for an answer for my question, but I've found different answers and I'm a little confused, and I'd like to know for sure.
I'm paying 30% T/T deposit and the the "balance against B/L copy".
When do I pay the balance? When I see the goods and show my B/L copy here at the destination port in Sweden in cash to the transporter? Or T/T when the cargo is on the freight in China?
Someone said in this forum that I should pay balance using T/T once I see a scanned/faxed copy of the exporters B/L with a stamp "ON BOARD". Is this correct?
Oh, another thing - does the B/L cost anything extra, some extra free I should know of? Anything else that's easy to miss? I'm a first-timer.
Thank you very much on beforehand, appreciate an answer
After you have made a payment of 30% advance to the shipper for shipment of goods the shipper will make arrangement for stuffing of the container and arrange shipment of goods. After the delivery of goods to the shipping company On Board the shipping company issues the B/L Copy to the shipper. This B/L Copy is an important document as the goods will be delivered to the person whose name is mentioned in the B/L Original Copy when the B/L is presented to the Shipping company at the destination port.
But See to it that you get the B/L Original when paying the remaining 70%. Party receives the payment and you get the B/L. Nowe you can contact the Shipping company for arrival of goods to get the delivery.
Again if the Booking company is the agent of the shipping company they will charge some minimal fee to give the D.O for delivery of goods after its arrival.
Thank you very much for clarifying all that to me. I have one question though
Quoting from [supernovanp]:But See to it that you get the B/L Original when paying the remaining 70%. Party receives the payment and you get the B/L. Nowe you can contact the Shipping company for arrival of goods to get the delivery.
How do you mean B/L original? How can I know if it is the B/L original? Will it have a stamp?
Thank you
Quoting from [mJohnsson]:
Hi,
I've been searching the web for an answer for my question, but I've found different answers and I'm a little confused, and I'd like to know for sure.
I'm paying 30% T/T deposit and the the "balance against B/L copy".
When do I pay the balance? When I see the goods and show my B/L copy here at the destination port in Sweden in cash to the transporter? Or T/T when the cargo is on the freight in China?
Someone said in this forum that I should pay balance using T/T once I see a scanned/faxed copy of the exporters B/L with a stamp "ON BOARD". Is this correct?
Oh, another thing - does the B/L cost anything extra, some extra free I should know of? Anything else that's easy to miss? I'm a first-timer.
Thank you very much on beforehand, appreciate an answer
Before, I try to answer your specific questions, may I ask if you know your supplier well enough to pay him an advance? You would have to trust him to later make the supply that you want, of the quality that you would have specified, as per the schedule you'd hace indicated etc. Are you confident about these issues? Pl answer frankly.
If ANY of your response happens to be 'NO', then we have a problem.
Before, I try to answer your specific questions, may I ask if you know your supplier well enough to pay him an advance? You would have to trust him to later make the supply that you want, of the quality that you would have specified, as per the schedule you'd hace indicated etc. Are you confident about these issues? Pl answer frankly.If ANY of your response happens to be 'NO', then we have a problem.
I have been in contact with him for three weeks now, and most things have worked smoothly. It seems to me that he has been relatively honest so far, and I haven't had any reason yet not to trust him.
I guess there will always be uncertainty before getting to know a person, because you can never really know for sure. I'll have to listen to my intuition, and regarding this contact, it's a good one.
Quoting from [mJohnsson]:Before, I try to answer your specific questions, may I ask if you know your supplier well enough to pay him an advance? You would have to trust him to later make the supply that you want, of the quality that you would have specified, as per the schedule you'd hace indicated etc. Are you confident about these issues? Pl answer frankly.
If ANY of your response happens to be 'NO', then we have a problem.
I have been in contact with him for three weeks now, and most things have worked smoothly. It seems to me that he has been relatively honest so far, and I haven't had any reason yet not to trust him.
I guess there will always be uncertainty before getting to know a person, because you can never really know for sure. I'll have to listen to my intuition, and regarding this contact, it's a good one.
You are right on all counts. I can only wish you all the best. I suggest that if the initial amount is of small value ('small' is relative; it should not be big enough to cause irreparable damage to your business), then part payment in advance (by TT, draft etc.) and the rest after you receive the original B/L, AWB etc. should be fine. For large sized orders, LC is recommended.
'Because you never know for sure', there is always a possibilty that a buyer may play on your emotions, build your confidence with several small orders, and then go for the big kill. Therefore, a little bit of research through his banker (bank's confidential opinion), feedback from other local sources, from his other suppliers etc. may help.