Kindly read carefully below options to see payment term in commercial contract with LONG DAT IMPORT-EXPORT AND PRODUCTION CORPORATION:
- Letter of Credit (LC): The Buyer shall open an irrevocable LC for 100% contract value in favor of Longdat within 25 working days since the signing date of the contract. The LC should mention buyer’s information, commodity, amount, contract number, latest date of shipment and expiry date.
- Telegraphic Transfer (TT): The buyer shall pay by TT for 30% the invoice value in advance, within 5 days from contract’s signing. The balance 70% must be paid after receiving copy of shipping documents (commercial invoice, packing list, bill of lading, certificate of origin,…)
- Combining payment term: Buyer can pay partially (such as 50%) by TT. The balance can be paid by a new Letter of Credit (at sight, irrevocable).
- Other terms: Documents against Acceptance (DA), Documents against Payment (DP)
Name of the bank: ASIA COMMERCIAL BANK – HA THANH BRANCH
Account No: 134584839
Swift code: ASCBVNVX
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