Correcto Mundo ! Not to upset any of the good folk on this forum. BUT ...
This will be a CIF transaction (as virtually all DSO to China are) and the Bill of Lading will travel with the Captain of the vessel to the receiving port and upon arrival and discharge to port samples will be drawn by the preorganised surveyor/ or/ testing lab operator's rep. such as SGS.
Upon confirmation of the ore's speci and cargo volume - payment will be made/ and or adjusted to the cent - then and only then will funds be released to the exporter. All would be stated in the precise word in the Schedules to the SPA(s).
Compared to FOB the departure port.
Now we can move on - I hope ...
Correcto Mundo ! Not to upset any of the good folk on this...
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