Orders must be prepaid, unless customer is approved for credit. All international orders must be prepaid.
*International wire transfers may take 2-7 days to arrive here. Let us know when your wire transfer is on its way, so that we can follow up with our bank. Orders with payment terms of prepayment will be scheduled for shipment upon receipt of payment on a first come first serve basis.
For payment by Letter of Credit, please have your bank issue an Irrevocable Letter of Credit (L/C) according to the following terms and conditions.
Note: We recommend that you fax us a draft of your bank's L/C or your L/C application, for us to review the L/C for acceptability before your bank finalizes it. This may save everyone time and possible amendment costs.
Total amount: as quoted to you in our official price quotation.
Payable: in EUR [European money unit] 100% at Sight.
All banking charges inside and outside the Serbia to be paid by you.
All Letter of Credit Amendment fees inside and outside the Serbia to be paid by you.
All duties, customs fees, taxes, inspection fees and other cost to be paid by you.
Advising and Confirming: Letter of Credit to be advised and confirmed through a bank in Serbia and to be negotiable and payable at a bank in Serbia.
Forwarder: Elite Group - Prometal reserves the right to nominate the export forwarder. You may specify a certain airline and your import agent at time of quoting.
Terms and Conditions
When you place your purchase order with Elite Group - Prometal:
* In your purchase order, name the bank you will be using, including the bank's full street address (not a P.O. Box), city and postal code, telephone number, fax number and contact person or department at the bank. The bank must be in the same country that the shipment is going to, ideally at a location close to the airport/port at which the shipment is arriving, so that there is no long delay for transferring the freight papers from the bank to you or your import agent.
When Elite Group - Prometal ships your order under CAD terms:
* We will ship through a freight forwarder appointed by Elite Group - Prometal.
* The shipment will be insured through Elite Group - Prometal.
* The freight forwarder will consign the shipment to the bank, meaning the Air Waybill or Ocean B/L is made out to the bank.
* The freight papers (Waybill, Draft and Invoice) will be sent by our forwarder separately from the freight by courier directly to the bank for payment.
* As soon as the bank receives the freight papers, they have to accept the Draft and effect payment. Payment of the full invoice amount is due in EUR upon receipt of the freight papers, by wire transfer to the bank stated on the Draft.
* Upon acceptance of the draft, the bank must release the freight papers to you, so that you can pick up the shipment from customs, or you can hand the papers to your import agent to clear the shipment from customs for you.
Please be aware that:
* Because the freight and the freight papers are sent separately, there will be a delay for you to receive the shipment from customs. The freight papers go out by courier on the business day following the day of shipment and take 2-3 business days to reach the bank.
* Your bank must be familiar with this process, and assure you that they will promptly take care of processing the draft, and release and send the papers to you, so that you (or your import agent) can obtain the shipment from customs.
* Your bank must be fully informed by you about the upcoming CAD and have funds available.
* Please make sure your staff who handles the CAD shipment is familiar with this process.
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