Payment Terms

PROLINE PROTECTION SYSTEMS LTD and PROLINE PROTECTION SYSTEMS (CY) LTD - later referred to as COMPANY- include acceptable terms of payment for equipment to be supplied on all official Company quotations. These will be quoted from the following list and will reflect purchase order value and trading history with the customer:

• Bank Transfer in advance of delivery
• Bank Guarantee (subject to Company acceptance)
• Irrevocable Letter of Credit - drawn on an Internationally recognised and accepted bank.(see notes below and attached sample)
• 30 day account - 30 days from date of Proline sales invoice.(subject to official application, trade references and Company acceptance)

Irrevocable Letter of Credit payment notes

1. Irrevocable Letter of credit (L/C) must be:-a) confirmed / "with confirm" or transferable (as will be identified on quotation)
2. All bank charges inside the Country of applicant are to be billed to the account of the Applicant / Drawee- NOT to the account of the beneficiary (COMPANY)
3. The Letter of Credit should indicate that the shipment is to be "freight collect". When special circumstances require shipment under pre-paid conditions, all freight and insurance charges must either be paid prior to shipment or included in the amount of the Letter of Credit. Proline Protection Systems Ltd will be happy to provide a proforma invoice with all estimated charges upon request
4. The Letter of Credit should indicate that the shipment is EX WORKS or FOB: SHIPPING POINT rather than FOB:U.K. AIRPORT. If not, the customer will be billed for any inland freight charges to the specified airport that may be incurred by Proline Protection Systems Ltd
5. The Letter of Credit expiration date should be at least 20 days after the latest shipment date. Please consult Proline Protection Systems Ltd to determine an accurate shipping date
6. All Letters of Credit must be issued in the same currency as that indicated on the Company issued quotation - UK pounds sterling currency .for the equipment being supplied.

IF ANY OF THE ABOVE REQUIREMENTS ARE NOT MET, THE LETTER OF CREDIT WILL BE REJECTED AND THE CUSTOMER ASKED TO PROVIDE AN AMENDMENT.

IMPORTANT NOTE:

FOR PURCHASE ORDER SHIPMENTS WHERE THE COMPANY'S CUSTOMER HAS SPECIFIED COLLECTION BY THEIR OWN NOMINATED SHIPPING AGENT, THE COMPANY WILL ADVISE THE CUSTOMER OF DATE OF AVAILABILITY OF SHIPMENT BUT CANNOT ACCEPT RESPONSIBILITY FOR COMMUNICATION OR NEGOTIATION WITH THEIR AGENT. ALL CONTACT MUST BE BETWEEN CUSTOMER & AGENT and AGENT AND COMPANY LOGISTICS FACILITY (details of which will be provided upon request).

Click here for Irrevocable Documentation Requirements