How to pay for imports

[yuemax]

A Letter of Credit would be along those lines. Not normally based on your inspection, but based on documents provided by the supplier. I'm not clued up on exactly how much protection this offers you, but it is the most common mechanism for forex transactions when the customer and supplier do not know each other well.

A chat with your banks forex department or some of their literature should be able to explain further. It a bit of a pain in terms of paper work, but possibly worth the effort.

we also encourage our clients to make their supplier pay for the re-inspection fees.

Cheers,
Max

[sonic clearing]

Obtain a credit app from the supplier...order the goods, Supplier arranges the transporter....Goods arrive at border you pay duties vat clearing fees etc....you recieve goods....stamp pod's that all is in order....driver returns pod's to supplier who then charges you out on your agreed 14 day etc .....

[debitordersystem]

There is no predefined definition of personal import and general a personal import is a direct purchase of foreign goods from overseas mail order companies, retailers, manufacturers or by an individual for the purpose of personal use.

The most common terms of purchase are as follows:

Consignment Purchase
Cash-in-Advance (Pre-Payment)
Down Payment
Open Account
Documentary Collections
Letters of Credit