What you write about the letter of credit I am unaware f it that this takes so long. This based on the (recent) past in which I used them a lot and did have the letter needed in about 5 working days. Beside the letter of Credit strengthen my position during the negotiations.
If we not have this option.
I am very grateful that you look after me every time and help me out to prevent mistakes. Therefore I am very pleased that you remind about the needed signature for approval.
I hereby do update you about the status of the negotiation.
The purchase still not is effective as the term of the letter are not accepted by both parties and I need to introduce them first. And with this (concept) letter of credit also provide the information of who is allowed to bind to have a valid contract is still not made. Probably I did use some wrong formulation of the events happened which could give you the impression I forgot one or more steps.
The status is that If all parties agreed on that this is the final proposition of all negotiation and then I can show this agreement for approval and signing.
I do hope to have made clear that I am still negotiating and still have no information to show to Arvind to discuss for approval and singing.
Beside the fact that I work very close on all with Sinchai.
For finalizing I need a proposal Letter of credit the 30% and 60 % at port and the last 10% after commissioning.
if dispute about the 10% we arrange SGS and the cost are paid by the party who was not right. if there is a percentage of not right each pay that part that is equal to the percentage of the SGS invoice.
And the supplier also agreed in the deal with the current outstanding balance that is also cleared by this purchase (note This is the disputed 10% of the last delivery)
and the new blowers are low noise units you send to me. (note for the earlier delivered system)
for this I need a concept letter and did requested a concept letter of credit
the letter of credit we cannot provide due to logical time reasons beside the other bank issues.
Which brings me to the conclusion the I only can make a concept resume to be put I the sales quotation by supplier.
Am I correct with this conclusion?
And after the supplier send us the sales order we have to provide a Purchase order that confirms the sales and is binding.
Looking forward to your suggestion, advise and recommendations,