Term of Payment - Guidelines for a Smooth Transaction
At OmniCo, we strive to make the payment process as straightforward and transparent as possible.
Term of Payment Structure
We use a structured payment process to ensure security and transparency for both Omni Coco and our customers. Below are the key stages of our payment process
Down Payment (25%)
Once we send you a proforma invoice, we require a 25% down payment to begin production. This payment confirms your order and allows us to start procuring materials and preparing for production.
Production Payment (50%)
The second payment of 50% is required before shipment. This ensures that the production costs are covered, and we can prepare your order for dispatch. Once the payment is received, we will proceed with finalizing your shipment.
Final Payment (25%)
The final 25% payment is due upon receiving the copy of the Bill of Lading (B/L), invoice, and packing list. After this payment is completed, we will send you the original B/L or Telex Release, which allows you to take ownership of the shipment.
Accepted Payment Methods
We currently accept the following payment methods to make the process as convenient as possible for our customers
Bank Transfer
Payments can be made via bank transfer to our designated bank account.
Please note that we do not accept Letters of Credit (L/C) or cash payments for any transactions. This policy ensures that all transactions are traceable and secure for both parties.
Terms of Payment for First-Time Customers
For first-time customers, our payment terms are designed to reduce the risk for both sides and establish a secure foundation for ongoing business.
This includes the structured payment plan outlined above, with strict adherence to deadlines and terms to ensure a smooth first transaction.
Payment Terms for First-Time Customers
Flexible Terms for Repeating Customers
For repeating customers, we offer more flexible payment options to accommodate your business needs. After successfully completing your first transaction, you may qualify for flexible installment options or credit term.
FAQs
We’ve compiled answers to the most commonly asked questions about our term of payment.
Q: Why is a down payment required to begin production?
A: The down payment helps us secure the raw materials needed for your order and confirms your commitment to the purchase. It ensures that both parties are committed to the transaction.
Q: What happens if I cannot make a payment on time?
A: If you anticipate any delays in payment, please contact your account manager immediately. We strive to accommodate reasonable requests but reserve the right to adjust the production or shipping schedule if payments are delayed.
Q: Can I pay via Letter of Credit (L/C)?
A: Unfortunately, we do not accept Letters of Credit or cash payments. All payments must be made via bank transfer to ensure traceability and security for both parties.
Our Commitment to Transparency
At OmniCo, we believe that clear and straightforward payment terms are essential for building trust with our clients. By providing detailed information and structured payment plans, we ensure that both sides are well-informed and confident in the transaction process.
*Submitting an inquiry through the form allows us to better understand your requirements and streamline the production process.
