Payment terms refer to the conditions under which a business expects to be paid by its customers for goods or services rendered. From the Pacific to the Atlantic and Japan to the USA, Our Payment Terms are the same for All Buyers. These terms outline the timeline, method, and any discounts or penalties associated with payment transactions. Our payment terms include:

1. Payment Terms for Ready Goods (Which is Ready for Urgent Shipment):
   1. Proforma Acceptance:  After issuing, this Proforma Invoice should be accepted within 24-48 Hours.
   2. Payment: Advance Full Payment by SWIFT/ INTERNATIONAL WIRE TRANSFER / TELEGRAPHIC TRANSFER.
   3. Production Lead Time:  Not Applicable for Ready Goods.
   4. Shipment: Shipment will be made within 5 – 7 days.
   5. Partial Shipment: Part Payments and Partial Shipments are acceptable.
   6. Tolerance: Normal Tolerance of +/-2% in Quantity and Weight is acceptable.
   7. 3rd Party inspection:  SGS / INTERTEK / BUREAU VERITAS inspection Report if required, would be provided at the buyer’s option and cost.
   8. Charges: All charges outside Bangladesh are from the Applicant’s accounts.
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2. Payment Terms for New Production:
   1. Proforma Acceptance:  After issuing, this Proforma Invoice should be accepted within 24-48 Hours.
   2. Payment: 50% Advance Payment by SWIFT/ INTERNATIONAL WIRE TRANSFER / TELEGRAPHIC TRANSFER.
   3. Production Lead Time:  Generally, 7 – 30 Working days are required after receiving a Minimum 50% Advance Payment.
   4. Shipment: Shipment will be made within 5 – 7 days after receiving Outstanding Payments.
   5. Partial Shipment: Part Payments and Partial Shipments are not acceptable.
   6. Tolerance: Normal Tolerance of +/-2% in Quantity and Weight is acceptable.
   7. 3rd Party inspection:  SGS / INTERTEK / BUREAU VERITAS inspection Report if required, would be provided at the buyer’s option and cost.
   8. Charges: All charges outside Bangladesh are from the Applicant’s accounts.
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3. Sample Policy:
   • Lead Time: Sample Lead time required Usually within 3~7 days
   • Sample Fee: We need to charge $250.00 per unit sample development and shipping fee.
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4. Trade Terms:
   • FOB: Free on Board as per Latest INCOTERMS
   • CFR: Cost with Freight as per Latest INCOTERMS
   • CIF: Cost with Insurance & Freight as per Latest INCOTERMS
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5. Negotiable Documents:
   1. Commercial Invoice
   2. Bill of Lading (BL)
   3. Packing and Weight List
   4. Shipping Marks
   5. Country of Origin Certificate
   6. Other Doc.: (By negotiation, i.e: Insurance Certificate, SGS Certificate, GSP Certificate, etc.)
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6. Bank information: 
   1. Bank Name: Islami Bank Bangladesh PLC
   2. Branch: Newmarket, Dhaka
   3. A/C Name: Asia Jute
   4. A/C Number: 20501290100370312
   5. Routing Number: 125263522
   6. SWIFT Code: IBBLBDDH129
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Our payment refers to a payment arrangement where the buyer pays the full amount for goods or services before receiving them. In this scenario, Asia Jute does not deliver the product or service until payment has been received in full.

This payment method is often used in situations where Asia Jute requires assurance of payment before starting work or delivering goods, especially in cases where there may be concerns about creditworthiness or the buyer’s ability to pay. It provides a level of security for the Asia Jute, ensuring that we receive payment upfront and mitigating the risk of non-payment or default by the buyer.

Therefore, both parties need to establish clear terms and conditions regarding delivery, quality standards, and potential refunds or disputes to ensure a fair and mutually beneficial transaction.