Payment terms

That part of a contract that defines when, where, to whom and in what currency the underlying obligation is to be discharged. The exporter will consider the following factors in negotiating terms of payment for goods to be shipped: Practices…

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Payment under reserves

In a letter of credit payment made against a non-complaint or questionable presentation, against which the beneficiary agree to repay if reimbursement is nor received from the opening bank within a specified time.

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