i have a potential customer in central africa. they refuse to do l/c payments

i was told by the time they arrange for the l/c payment it would be too late if the shipment arrives at they port of destination.

i am new to the import/export world and myself i dont know how the L/C works , all i know its safer when banks are involved .

should i rather let this customer go maybe it could be a scam from his side . as they want to do cash payments and be paid commision before the shipment arrives.

Why not discuss this with a bank in your country as to what protection you get with a L/C.


You could also ask your customer for a deposit with the balance to be paid after inspection.  You release nothing until you get full payment.

Quoting from [trimports]:

i have a potential customer in central africa. they refuse to do l/c payments

i was told by the time they arrange for the l/c payment it would be too late if the shipment arrives at they port of destination.

i am new to the import/export world and myself i dont know how the L/C works , all i know its safer when banks are involved .

should i rather let this customer go maybe it could be a scam from his side . as they want to do cash payments and be paid commision before the shipment arrives.

Dear Sir,

We are also Seller. Frankly speaking LC is worth of using only when the quantity is very large. LC is expensive to open for Buyer. It is very inconvenient because if you need to change the clause you should pay money also. The Seller aften loose money because of veriety banks expenses. Only banks earn money with LC.

 

Quoting from [trimports]:

i have a potential customer in central africa. they refuse to do l/c payments

i was told by the time they arrange for the l/c payment it would be too late if the shipment arrives at they port of destination.

i am new to the import/export world and myself i dont know how the L/C works , all i know its safer when banks are involved .

should i rather let this customer go maybe it could be a scam from his side . as they want to do cash payments and be paid commision before the shipment arrives.

Try to opt other payment term as 30% TT alongwith order and balance against faxing of shipment documents.


CAD can be accepted only if you get D&B positive for that particular buyer.