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STANDARD PROCEDURE

AMF's Payment Terms Procedure

- We can accept payment terms :
1. 50% T/T Down payment within four (4) working day (after sign proforma invoice), 50% T/T balance 10 days before shipment date.
2. 100% Irrevocable LC at sight from buyer's reputable bank.

- Order or document will proceed strictly after full down payment received by our bank account or irrevocable LC at sight already confirm open by buyer's bank.

- For first time trade, buyer should put 50% down payment within four (4) working days, and 50% T/T balance 10 days before shipment date.

Main Poin

Acceptable Payment Terms

Seller can accept two kinds of payment terms only, such as, telegraphic transfer (T/T) and irrevocable LC at sight.

Late Payment

Seller will not take any responsibility for any buyer's loss opportunity cause of late payment.

Proceed Order

Seller will proceed further buyer's order, strictly after 50% TT down payment received at seller bank account or LC confirm open by buyer's bank.

First Time Trade

Buyer with the first time trade, should put 50% down payment within four (4) working days, and 50% T/T balance 10 days before shipment date.

Business Objectives

Asia Maritime Food will proceed buyer order strictly after we received down payment at seller's account or LC confirm open by buyer's bank.

  • +What other kinds of LC that seller can accept ?
    Seller cannot accept any other kinds of LC beside irrevocable LC at sight from buyer country reputable bank.
  • +What happen if buyer cannot process the payment within four (4) working days ?
    Any additional selling price cause of market volatile price will bear by the buyer.
  • +What happen if buyer cannot process the 50% balance payment within 10 days before shipment date ?
    Seller will gave final reminder within 7 days before shipment. If until 5 days before shipment date, buyer still not arrange any payment, seller will role over the shipment date, Buyer will took any responsibility cause of late payment which affect to the products quality issue.
  • +It there any seller requirement regarding payment by LC terms ?
    Before buyer open the LC, LC draft should be confirm by seller as well. LC also should be open from buyer's reputable bank.
  • +For the first time trade, it is possible to use another payment terms besides T/T ?
    No, it is not possible. In order to know each other commitment, we are strict with payment terms 50% T/T down payment within four (4) working days and 50% T/T balance 10 days before shipment date.