How do you consider a payment from a buyer who informs that payment will be made after we fax the B/L(Bill of lading).???


Payment will be made 3 days after received a fax copy.


In this case we are safe just because original documents will be in our hand and not in the buyer hands.


But what if the buyer does not agree to pay later on ....


What do you suggest ???


Thanks and Regards


Irfan Latif

Quoting from [IrfanLatif]:


How do you consider a payment from a buyer who informs that payment will be made after we fax the B/L(Bill of lading).???

Payment will be made 3 days after received a fax copy.

In this case we are safe just because original documents will be in our hand and not in the buyer hands.

But what if the buyer does not agree to pay later on ....

Irfan Latif

     Suggestion for  Irfan:

     1. If the sailing days (voyage) of shipment is long time enough  2 or 3 weeks it is  still

         can be considerably. But  not yet answer your last question of "Certainty be paid"

     2. If  the sailing tie very short only 1 or 2 weeks .. it is too risk.

         even with a possibility (by some arrangement) to do return shipment, it will not the

        alternative, as  we will bear a surcharges (fine) from custom for being re-export or

        return shipment Duty & Tax ..plus the ocean freight container cost.

        It is also not  the answer of your last question, "how if not be paid ?"

   to be continued

to Irfan latif  : 


  3. below is the  several  option from the small to bigger possibilities :

         a. Re Negotiate again , Ask your Buyer to Open a L/C  at sight.

         b. Ask your buyer to instruct their Bank to do  Negotiated Money Guarantee for payment

             right after presentation Document (showing shipment document alias B/L, INV ,P/L)

             in this particular case is called  D/P = Documents against Payment.

             if you do not clear, call your Bank to ask the details and method  of this D/P.

             By this, buyer will appoint his bank and or his paying (remittance)bank at your state.

             (better if in your City). to do the payment to you whenever you show/presenting the

             Documents = B/L, INV & P/L  and other that been stipulated/requested.

             if  just in case they do not have any rep or correspondence-bank  in your place,

             they may (by agreement/approval) would let your bank as the Collecting bank to do

             the collection and payment to You.  (this is prior to  Upon approval/acceptance).

             meaning taht your bank (collecting bank) and his bank (Paying Bank) will have to

             contact for "Confirmation"  for this  transaction D/P.  and it will be done via SWIFT

             (easy and fast ) just as like clearing (INKASSO) as like bank to bank normally.

         continuing ..to

 c. You apply a such of Liability Insurance for this transaction,

              meaning that, the Insurance company (Liability insurance)  will pay to you assaid in

              the premium (agreement) if your buyer  fail or violating the obligation (to pay you) by

              any reason possibilities.

              But, this is also not the Proper / wise  decision.

         d.  The more small possibility to propose is :  ask your buyer to give you a bank

              guarantee of  Payment Bond and Shipment Bond from his Bank to You/your bank..

              Meaning that IF you had shipped it and somehow if the buyer does not pay you , then

              by those Bank's Bond ( Bank Guarantee) you will get the payment.


But the main point of this case is :  suggest you to contact your buyer to re-negotiate and

asking them (stright but politely) for above matter.. ..OK  ?


And do not forget to consult with your Bank first...

    

Quoting from [IrfanLatif]:


How do you consider a payment from a buyer who informs that payment will be made after we fax the B/L(Bill of lading).???



Payment will be made 3 days after received a fax copy.



In this case we are safe just because original documents will be in our hand and not in the buyer hands.



But what if the buyer does not agree to pay later on ....



What do you suggest ???



Thanks and Regards



Irfan Latif

     Dear Sir

  it's depend on the standing of  buyer

 

richard

Quoting from [IrfanLatif]:


How do you consider a payment from a buyer who informs that payment will be made after we fax the B/L(Bill of lading).???



Payment will be made 3 days after received a fax copy.



In this case we are safe just because original documents will be in our hand and not in the buyer hands.



But what if the buyer does not agree to pay later on ....



What do you suggest ???



Thanks and Regards



Irfan Latif

Let the buyer pay a 30 % deposit in adavnce and rest 70 % against copy of B/L. Then you can be sure no one pays 30 % for nothing. And at least you can see the buyer is serious.

Quoting from [nordin]:

Quoting from [IrfanLatif]:



How do you consider a payment from a buyer who informs that payment will be made after we fax the B/L(Bill of lading).???




Payment will be made 3 days after received a fax copy.




In this case we are safe just because original documents will be in our hand and not in the buyer hands.




But what if the buyer does not agree to pay later on ....




What do you suggest ???




Thanks and Regards




Irfan Latif

Let the buyer pay a 30 % deposit in adavnce and rest 70 % against copy of B/L. Then you can be sure no one pays 30 % for nothing. And at least you can see the buyer is serious.

in some countries, they do not require original BL to clear goods from custom. We have some bad experiences of goods and money being lost to such order. Do not this and check customer standings on this matter.