Knowledgebase
Knowledgebase:
Importing - Paying The 70% Balance After FOB Delivered To Port
Posted by Live Now Education G Support Team on 03 August 2018 02:21 PM
Whilst suppliers often want to receive the 70% balance ASAP, we personally would never pay this until the goods have been delivered to the port and in the freight forwarders care.
Otherwise you have no way to know if the cartons have been delivered in full or in good condition or without additional delays etc to the freight forwarder.
Again from our personal experience, Amanda's suppliers have never had an issue with receiving the balance after the FOB has been delivered to the port, however this will come down to what terms you agreed both agreed to before placing the order.
If you used our 'Purchase Order Agreement' and have the suppliers company chop, you can gently remind your supplier of point 4) which states:
4) The balance is payable after the commercial invoice, packing list, Bill of Lading and packaging declaration has been emailed to us
Either way whether you used the 'Purchase Order Agreement' or not, we would explain to your supplier you're not willing to pay the balance until it's delivered to port, which is what your other suppliers offer (even if you don't have other suppliers) as you need to ensure you have the legal paperwork for customs and the right quantities are delivered.
Also reassure the supplier that you'll make the transfer the same day without delays and you'll send them a screenshot of the payment so they can see it's been transferred before it clears, then make sure you remember to do this!

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