We realize that our customers who have a history with us, have total piece of mind, they know they will receive the best possible price on the market and if they receive a genuine lower price from a competitor we promise to try to better it or match it. Our customers piece of mind extends to receiving high quality customer service and high quality control of our steel product, with prompt delivery and secured LC payment terms.
WE OFFER NO OBLIGATION QUOTATION SERVICES |
NEW CUSTOMER PIECE OF MIND
We try to give reassurances to our new customers that they are in good hands and we give reassurances of the following -
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LC 100% SECURES THE BUYER & 100% SECURES THE SELLER
WHAT IS AN LC
LC means 'letter of credit', LC is a document from a bank guaranteeing that a seller will receive payment in full as long as certain delivery conditions have been met.
In the event that the buyer is unable to make payment on the purchase, the bank will cover the outstanding amount. LC are often used in international transactions to ensure that payment will be received where the buyer and seller may not know each other and are operating in different countries. In this case the seller is exposed to a number of risks such credit risk, and legal risk caused by the distance, differing laws and difficulty in knowing each party personally. A letter of credit provides the seller with a guarantee that they will get paid as long as certain delivery conditions have been met. For this reason the use of letters of credit has become a very important aspect of international trade.
The bank that writes the letter of credit will act on behalf of the buyer and make sure that all delivery conditions have been met before making the payment to the seller. Most letters of credit are governed by rules promulgated by the International Chamber of Commerce known as Uniform Customs and Practice for Documentary Credits. Letters of credit are typically used by importing and exporting companies particularly for large purchases and will often negate the need by the buyer to pay a deposit before delivery is made.
The parties to a letter of credit are the supplier, usually called the "beneficiary", "the issuing bank", of whom the buyer is a client, and sometimes an advising bank, of whom the beneficiary is a client. Almost all letters of credit are irrevocable, i.e., cannot be amended or canceled without mutual consent of all parties.
LC means 'letter of credit', LC is a document from a bank guaranteeing that a seller will receive payment in full as long as certain delivery conditions have been met.
In the event that the buyer is unable to make payment on the purchase, the bank will cover the outstanding amount. LC are often used in international transactions to ensure that payment will be received where the buyer and seller may not know each other and are operating in different countries. In this case the seller is exposed to a number of risks such credit risk, and legal risk caused by the distance, differing laws and difficulty in knowing each party personally. A letter of credit provides the seller with a guarantee that they will get paid as long as certain delivery conditions have been met. For this reason the use of letters of credit has become a very important aspect of international trade.
The bank that writes the letter of credit will act on behalf of the buyer and make sure that all delivery conditions have been met before making the payment to the seller. Most letters of credit are governed by rules promulgated by the International Chamber of Commerce known as Uniform Customs and Practice for Documentary Credits. Letters of credit are typically used by importing and exporting companies particularly for large purchases and will often negate the need by the buyer to pay a deposit before delivery is made.
The parties to a letter of credit are the supplier, usually called the "beneficiary", "the issuing bank", of whom the buyer is a client, and sometimes an advising bank, of whom the beneficiary is a client. Almost all letters of credit are irrevocable, i.e., cannot be amended or canceled without mutual consent of all parties.
After a contract is concluded between a buyer and a seller, the buyer's bank supplies a letter of credit (LC) to the seller.
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After a contract is concluded between a buyer and a seller, the buyer's bank supplies a letter of credit to the seller.
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Seller provides the bill of loading to bank in exchange for payment. Seller's bank then provides the bill to buyer's bank, who provides the bill to buyer.
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Buyer provides the bill of loading to carrier and takes delivery of the goods
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WHAT IS BILL OF LOADING
A bill of lading also known as B/L or BoL, is a document issued by a carrier which details a shipment of merchandise and gives title of that shipment to a specified party/company/person. Bills of lading are one of three important documents used in international trade to help guarantee that exporters receive payment and importers receive their order/merchandise.
Note: -
1. A straight bill of lading is used when payment has been made in advance of shipment and requires a carrier to deliver the merchandise to the appropriate party.
2. An order bill of lading is used when shipping merchandise prior to payment, requiring a carrier to deliver the merchandise to the importer, and at the endorsement of the exporter the carrier may transfer title to the importer. Endorsed order bills of lading can be traded as a security or serve as collateral against debt obligations
A bill of lading also known as B/L or BoL, is a document issued by a carrier which details a shipment of merchandise and gives title of that shipment to a specified party/company/person. Bills of lading are one of three important documents used in international trade to help guarantee that exporters receive payment and importers receive their order/merchandise.
Note: -
1. A straight bill of lading is used when payment has been made in advance of shipment and requires a carrier to deliver the merchandise to the appropriate party.
2. An order bill of lading is used when shipping merchandise prior to payment, requiring a carrier to deliver the merchandise to the importer, and at the endorsement of the exporter the carrier may transfer title to the importer. Endorsed order bills of lading can be traded as a security or serve as collateral against debt obligations
PIECE OF MIND & EXCELLENT CUSTOMER SERVICE STARTS HERE