Josoratsawmill.Com

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                                                   Terms of Delivery and Payment
»An initial payment of 50% of the total invoice amount is due when a Letter of Intent ("LOI") is signed.

»The balance is payable either by Letter of Credit or by bank transfer against receipt of the Bill of Lading.

»Delivery time: six (6) to eight (8) weeks after receipt of initial payment

»The prices are understood FOB Nigerian port.

»The merchandise will be dispatched in 20' and/or 40' foot containers.

»The minimum purchase is one 20' container. A 20' foot is based on 20cubic meters (20m3) order +/-( 8,000 Board Feet)

» A 40' foot container  is based on 35-40 cubic meter (35m3-40m3) order +/- ( 14,800-17,000 Board Feet)

 »1Cubic meter (m3) is (424 Board Feet) 

»                               Letter Of Credit Explanation:

  1. You instruct your bankers to issue our bankers a confirmed irrevocable Letter of Credit (L.C.) for the amount in any currency; A Letter Of Credit is drawn up by your bank in conjunction with yourselves and is a  recognized financial instrument designed to protect the buyer and seller in international dealings. The L.C. describes in detail the items to be purchased (condition and number of items, insurance, inspection etc.) and states the conditions of  payment to the seller (when and how the amounts are payable) The L.C. is only honored when all conditions have been met as checked by both yours and our ban
  2. Our bankers will notify us that your Letter of Credit has been confirmed and we begin to manufacture as per the Letter of Credit;
  3. Your items will be safely and securely packed with the utmost care, so that the items arrive in the same condition that we pack them;
  4. An approved certification  agent from S.G.S Societe Generale de Surveillance (www.sgsgroup.com) or someone of your choice inspects all items and once packed and loaded, seals the crate or container before it is handed to the shipping agents. An Inspection report from S.G.S or someone of your choice is required before the Letter of Credit is payable (for you peace of mind);
  5. The shipping agents ensure that the crate or container is transported and insured according to international standards. They commit the crate or container to its journey and  send all documentation (L.C., Bill of Lading, Insurance, Inspections etc.) to our bank for inspection; and
  6. When our bank is satisfied that all conditions on the L.C. have been met they courier all documents to your bank, which then rechecks all documentation, after which they contact you for final authority to release the funds to us. Your bank then releases the documents to you which enables you to take possession of the items from the clearing agent.


 
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Last modified: February 13, 2008