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L/C can be only on our conditions, and all transport fees should be payed 100% prepayment of all volume. Conditions of the LC in part of payment for coal:
The Buyer pays under the Contract, under the letter of credit according to the conditions agreed by the Parties. Payment currency – US dollars. The letter of credit should submit «to the Unified rules and customs for documentary letters of credit» (edition of 1993, the publication of the International chamber of commerce, the edition № 500).
Payments for the goods under the Contract, should be made the Buyer as follows: the Buyer exposes in favour of the Seller of irrevocable, 100 % covered on the sum of cost of the goods under the Contract, separable, transferable, the cumulative, confirmed letter of credit (executing bank - bank of the Seller) within 7 (seven) bank days after Contract signing, period of validity on Contract period of validity. Bank expenses in bank of the Seller are born by the Seller, and in bank-emitter of the Buyer - the Buyer.
Execution (disclosing) of the letter of credit occurs under documents agreed in the Contract within 3 (three) bank days after granting by the Seller of documents in executing bank.