silly L/C clauses
one US buyer is going to open an L/C to us, but i found there were some silly L/C clauses, pls see the following clauses included in their L/C terms:FOB Business Forum$o;x*Y*Y:f"N;Z.N3j,t.x
+H;g!t.~3f9B3^'\!A)i-\ k'dFOB Business Forum
$r5b+L:G Obusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business>All banking charges including LC opening fee, amendments and discrepancies in the negotiating documents to be charges to the beneficiary??s account. --->this is not reasonable, LC opening fee should be charged to the applicant, and the other charges should be charged as per the reason which caused the changes. www.fobshanghai.com*|/p1Y5n*k
:o*J3s$H%z$B*EFOB Business Forum>We would allow only one amendment per LC, for each additional amendment, there will be a handling chares of USD150.00 In addition to the banks charges and the penalty will be deducted from the proceeds. --->even we ensure we can finish the shipping without any amendment of L/C, it is not acceptable for beneficiary to accept this clause.
:v7S9n-M1M;M+|4eFOB Business Forum
'N&^'}3w9H4U;{"T9xbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business>3 pcs in each color in required size as per PO should be sent to IN7 Clothing, Inc. office within one week of opening of LC on the vendors cost. A letter of confirmation duly signed by Ms. Vazirani of George and Martha confirming the same should accompany the Negotiable documents. --->it is not acceptable, nobody can assure we can get this letter even we arrange the samples exactly, this letter cannot be considered as a part of negotiable documents at all.business forum,trade forum,business opportunity,Business China,Business India,Brazil business.k,F5G'U"Z5l3Y*r$?
FOB Business Forum,f5r5y3@;~/v9T$l
>A copy of inspection certificate duly signed by Mr. Babita Vazirani along with her passport copy should be integral part of Negotiable Documents. ---->it is not acceptable, this signed inspection certificate and passport copy cannot be regarded as integral part of negotiable documents.
'}4S/W+i7@3Mbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil business
p$D/z/@/B,}._[A Professional Business Forum]i came back to the buyer with the words highlighted in red, and rasied our problems and worries, then i got his reply today as below:FOB Business Forum3^7c'L3k'`%W7m-Y%f
FOB Business Forum0P1H7J"}.O(Q m"R
Dinah once again ¡§C FOB Business Forum4D;l&d$v0I3b4Y!x(x4Y4D
pls be reminded that we are not there to hurt hyou ¡§C but we are trying to protect ourselves.
-b,m-M0W'b/H*r$Y[A Professional Business Forum]And we buy over 8.0 million units a year.We are not new in the business.
/X j1~ n/A&H!A5V[A Professional Business Forum]If it does not work ¡§C we don??t mind walking away from the deal ¡§C but we don't change the terms for anyone.
$r)\.w5B'f$}"N6M[A Professional Business Forum]pls trust us so we can trust you¡§C we want to also buy sweaters from you and we don??t want to hurt our relationship with anyone.FOB Business Forum(o-?7I ]/^
:X*O:D1l#S+J;I,e1d!t/WFOB Business Forumnow, i think even we can accept the 1st and 2nd clauses above,the 3rd and 4th clauses are really unacceptable
$W+Y7j#d%Y:O.[FOB Business Forumthese clauses never appeared in the L/Cs we finished before,also this buyer is complete new for us
3V)O5]4q;M&P'T1_6Tbusiness forum,trade forum,business opportunity,Business China,Business India,Brazil businessi learned that some companies failed on L/Cs with these clauses and lost lots of money in business n.\ I&d3B)o4~
but it seems that this buyer is quite firm on their terms,and from their company info, their company is very big and strongFOB Business Forum6^'t.E6w!W0r#~
moreover, we have invested lots of money in this deal, what to do?
2S'F(R)j5d5C.H-r[A Professional Business Forum]did you meet this kind of L/C clauses before? pls give me some advises....
|
