The payment policy that is being implemented involves the use of an LC payment, where the buyer is required to make an initial advance payment of 50% of the total amount. The remaining amount will be paid once the goods have been shipped from Nepal customs.
Once the shipment is ready to be dispatched, the seller will send the buyer a custom clearance receipt along with a tracking number, which will allow the buyer to track the shipment during transit. The customs clearance receipt proves that the goods have cleared customs and are ready for shipment.
The LC payment method is a commonly used payment method in international trade, where the buyer’s bank issues a letter of credit guaranteeing payment to the seller upon the fulfilment of certain conditions, such as the delivery of goods or the submission of specific documents. This payment method provides security for both the buyer and seller in the transaction.
