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Payment by T/T 30% confirm order, 70% against fax B/L means what?

April 26, 2017Business confirm credit fax Finance payment

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Payment by T/T 30% confirm order, 70% against fax B/L means what?

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Hi, This means the supplier wants you to pay 30% by tele-transfer (TT) immediately you confirm the order. Balance by fax B/L means once the goods are shipped out, the supplied will fax you the Bill of Lading and you have to pay the balance 70% (by TT I presume). A suggestion – when entering into such contract, please ensure that you get ‘on-board’ sealed B/L so that you know the goods have ‘actually’ been put on the ship and not waiting at the port of the importer’s country. Regards Arun.