Hello all Dears.
Can Someone Suggest that what Can be the fraudulence in D/P Payment term from a buyer side. We are offered the irrevocable LC term for our Customer but they telling for D/P term...
Best Regards.
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Quoting from [OMHMD]:Hello all Dears.
Can Someone Suggest that what Can be the fraudulence in D/P Payment term from a buyer side. We are offered the irrevocable LC term for our Customer but they telling for D/P term...
Best Regards.
Main risk is buyer have to pay shipping documents to collecting bank before seeing or checking the goods.
fraudulence in D/P :
1. No Actual Shipment / Manipulation of Documents (documents made without shipping the goods)
2. Goods in quantity and quality different with stated in shipping Documents you have paid to the bank
Note : BANKS have no responsibility or obligation in this payment method.