Export from third country to overseas party


Respected Sir,

1]We are in receipt of an order in USD from our Indian Customer only.

2]He wants us to export it directly to his Overseas customer in Thiland.

3]Our two vendors are in USA. Terms are FOB USA Port. From their we want to export directly to the overseas client of our Indian customer i.e.to  Thiland. This will save the cost of frieght & time for bringing the material to Indian port & against export to Thiland.

Query :

1]Can we open LC in favour of our USA supplier? ( material is directly going from USA to Thiland)

2]Or can we make payment to our USA supplier thru TT?

Please advice.

 
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ADVOCATE AND CORPORAE ADVISOR

dear sir

 

In the present days, there is no restriction for your doing cross-boarder business including import and export. However, you have to protect your legal interests from the future perspective.

You should ensure clarity regarding payment and delivery of goods. 

While opening L/C, you should take care of abundant caution. 

In this connection ICC incor terms etc. are very useful to you while dealing with international business.


For specific advice, you may have to give me specific details.

DR VEDULA GOPINATH


Advocate and Arbitrator               vgnath@gmail.com



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