PAYMENT
The terms of payment will be as follows:
30% as advance payment shall be paid within 30 days after signing date of the contract or
after ABB Limited’s receipt of the Purchase Order, whichever occurs first.
60% of the order amount shall be paid against presentation of our invoice within 30 days
after delivery.
10% of the order amount shall be paid against presentation of our invoice within 30 days
after commissioning.
The advance payment is non-returnable amount and shall be used by the supplier as
cancellation fee in case Purchaser fails to perform to the contract/order conditions.
The payment shall be made through the Domestic Letter of Credit opened in favor of ABB
Limited, established by a first class commercial bank in Thailand.
The payment in full is due within 30 days from date of issuance of invoice