Policies for L/C payment

When the payment with letter of credit (L/C),
The buyer must accept the conditions which list at below absolutely
If the buyer cannot accept one or more of below conditions,payment with L/C will not accept.

a. Total contract amount sould be more than or equal to USD400000.

b. 30% of total amount prepaid by telegraphic transfer(T.T).
    balance(70%) paid with letter of credit at sight (L/C), and its must be Irrevocable letter of credit. 
    Whenever, D/P,D/A not acceptable.

c. Price term must base CNF/CIF/C&F only.
    Dlivery by sea only.

d. The issuing bank or confirming bank must be one of the below bank:
     Hong Kong and Shang Hai Banking Corporation
     National City Bank of New York
     Bank of China
     Industrial and Commercial Bank of China
     National Commercial Bank of Saudi Arabia

Related Reading
> What is L/C (letter of credit)
Uniform Customs and Practice for Documentary Credits (UCP 500)
> Uniform Customs and Practice for Documentary Credits (UCP 600)
> Incoterms 2000
> Incoterms 2010
> United Nations Convention on Contracts for the International Sale of Goods (1980)
> Exemplar of application for irrevocable documentary credit

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