All good stuff !
But it will be the actual contract signed by CXO and the Offtaker in their agreement which will determine how the docos are applied in their payment mechanism. Generally, a major party such as a BHP would require payment under FOB (freight on board) so upon loading completion triggering the banking exchange. However, Chinese are legendary in requiring payment under CIF (Carriage in Frieght - now called Cost, Insurance Freight) meaning upon dicharge at port completion and verified by the offtaker before payment triggered.
So, anyone know or care ... ?!
Still get paid but Chinese shenanigans like not send a boat so can not load, or port jammed, and cannot off-load ...
So, again documentation in the off-take should have the ability for CXO to redirect cargos: has it ??!
All good stuff !But it will be the actual contract signed by CXO...
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