The name and grade with full specifications, quantity, and other important information of the sought-after product are determined and understood – via product samples and/or documentation such as inspection reports, technical data sheets or quality/standards certificates, etc. – right from the beginning by all parties privy to the potential business endeavour. GGT ENSURES that the specified name/grade/full specifications, quantity , etc., are also hence forth indicated on the Offer and Contract formed, and ENSURES that such information also becomes part of the ‘Export Documents’ required to be presented clean 100% at sight to the Seller’s bank for credit collection – but only AFTER a 3rd party inspection (by a company like SGS) of the goods and documents are completed and APPROVED, Customs clears the goods for export, and loading of the vessel has commenced.
In other words, the goods MUST be as per specified in the Contract and its respective Export Documents, if not, the goods are rejected by the 3rd Party Inspection Authority and Customs, and does not get loaded onto the ship. In this case, the Buyer’s DLC that has been sitting in the Seller’s bank would not be able to be collected upon by the Seller, because the goods’ documents could not be presented “cleanly” to the bank. The Seller does not get paid, the Buyer keeps their money.
All of this speaks to the importance of having an experienced company like GGT handle an International Trade Transaction for you. This is what we do. We protect not only the Buyer’s interests, ensuring they get what they order, but the manufacturer’s and our interests as well. We all have a lot at stake in any given potential trade deal. GGT becomes deeply immersed in every aspect of an international trade transaction from beginning to end, knows what needs to be in place at every juncture, and coordinates every aspect on both the Supplier’s and Buyer’s side of the deal.