This 1 month financial gurantee, how does it work with the per shipment payment?
The Financial Guarantee is to be for one-month's shipment value by a Bank Guarantee, Standby-L/C or an L/C with expiry date of 13.5 months from date of contract.
Financial Guarantee: IDFFRDL/C (...) for face
value per shipment basis, expiring .... Note: Top 4 Mainland China acceptable.
Monthly Payment: Per shipment basis, 100% at sight upon loading, supported by FFRDL/C (Confirmed and unconditional). Note that L/C will divided in 2 distinct L/C. (.....)
Payment per shipment to be: Irrevocable, Fully-Funded, Revolving, Transferable L/C on a per shipment basis with payment per Telex Transfer upon presenation of electronically scanned original documentation (as per docs that will be listed in the contract)
This payment term as well as the 1-month BG is not negotiable.