We offer three general payment mechanisms to our customers:
Telegraphic Transfer prior to Dispatch
TT prior to dispatch is generally for small orders of less than €25,000. We require payment in advance prior to handling or cutting of plates and arranging shipping. Please send us a copy of the bank remittance and processing will commence on receipt of cleared funds.
Cash Against Documents
Cash against documents is a form of documentary credit where we will start the processing of your order – handling plates and arranging shipment and dispatch before we receive payment. Payment is usually on the basis of Bill of lading or faxed bill of lading and we will require payment before you receive the documents (including the mill test certs) that allow them to be collected and removed from the port. We will send the documents to our bank with instructions that they will only be released on payment.
We use cash against documents as a payment term for orders between €25,000 and €100,000.
Letter of Credit
For orders larger than €100,000 the preferred form is a letter of credit. Due to the importance of ensuring that all the details are correct and that no unnecessary delays are incurred we have prepared some shipping advice which you can find on the shipping pages under documentation.
For small transactions we prefer not to use LC’s as the additional cost and complexity have not, in our experience, benefitted both parties. Cash against documents provides a good balance of speed and ease of shipment whilst protecting both parties’ interests.
When we make you an offer payment terms will be stated on the offer.