30% Non-refundable down payment with placement of order within 14 days from the date of Buyer’s order
70% To be by the opening of an irrevocable and confirmed Letter of Credit in our favour by a bank acceptable to us, free of any costs to us, and confirmed by Hongkong and Shanghai Banking Corp. Ltd., 21 Collyer Quay, #04-01 HSBC Building, Singapore 049320 and to be opened two months after receipt of downpayment or immediately with order whichever is shorter.
In the event that the Buyer requests for a delay in delivery, beyond the stipulated date in clause 3 below, an additional down payment of 40% is payable within 30 days from such request
3. Delivery :
(a) The Goods shall be delivered at port of loading, 6-7 months after receipt of the non-refundable down payment, provided such down payment is received in due time as mentioned in Clause 2.0 above.