Zuma Scrap

Company Description

RevolvingDocumentary Letter of Credit (RDLC), for the monthly shipment value. EachShipment shall be paid by SWIFT or T/T payments within seven (7) banking
Days upon presentation of the shipping documents at the Buyer?s bank. The
RDLC shall be issued at the beginning of the contract period and shall be
Covering the value of the one month?s shipment. Since LC is the payment mode,what is the need for TT requirement in addition?.Please clarify

PERFORMANCE BOND: The SELLER is to open a Performance Bond for the value of 2% of the RDLC Value. ok
INSPECTION: BY SGS OR EQUIVALENT AT PORT OF LOADING, AT SELLER?S
EXPENSE.
ADDITIONAL CONDITION: Yard visit to be provided after signing of the draft contract, but before issuance Of any financial instrument. ok