It is too easy to fall into the trap of favouring the applicant by giving him absolute control over payment of the 15%. A fairer method to resolve this to the satisfaction of both beneficiary & applicant is to jointly appoint an independent surveyor or inspection agency to validate commissioning of the machinery and to issue documentation to this effect to the beneficiary, against which the balance payment is made.
Laurence
L/C containing special payment terms
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larryBacon
- Posts: 689
- Joined: Fri Apr 05, 2019 5:26 pm
L/C containing special payment terms
Jeremy,
If you are busy, maybe you may say just yes or no to the issue of whether there is any "conflict of interest" for an applicant to make presentation against a DC issued on his request, soley from legal perspectives.
www.tolee.com
If you are busy, maybe you may say just yes or no to the issue of whether there is any "conflict of interest" for an applicant to make presentation against a DC issued on his request, soley from legal perspectives.
www.tolee.com