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• Five Payment Terms to Choose From
• Payment Terms: Summary Table
• Payment Terms: Impact on Order Total
Price
FIVE PAYMENT TERMS
TO CHOOSE FROM
Method 1: 100% UPFRONT
Payment is made one week before shipment date
or Bakery Doctors’ scheduled flight to Gambia.
The 100% upfront method gives any customer an additional discount
of 10% to the agreed price.
Method 2: 50% UPFRONT
The 50% upfront payment is non refundable. The remaining balance
is paid upon delivery of the goods or upon completion of a
repair or maintenance service.
Lyncoln Solutions reserves the right to sell the imported
goods paid under this payment term to any third party if the original recipient did not
pay the balance due within twenty business days after goods
have been cleared through customs.
Method 3: LETTER OF CREDIT
This method only applies to any order exceeding US$ 40,000. Lyncoln Solutions accepts only irrevocable letters
of credit confirmed by a French bank. All fees related to
the letter of credit are at the buyer’s charge. The Letter Of Credit payment
term generates a 5% increase in the agreed total price.
Method 4: CASH ON DELIVERY
Under that method of payment, goods are shipped under the
name of Lyncoln Solutions Gambia
Branch. Merchandises are released to the actual buyer only
when payment of all due charges is fully made to Lyncoln Solutions
by cash or through wire transfer. This method of payment applies
for goods only. It is not applicable for services.
Lyncoln Solutions reserves the right to sell the imported
goods to any third party if the originally ordering party
did not pay for the goods within ten business days after goods
have been cleared through customs.
The Cash On Delivery method of payment generates a 10% increase
in the agreed total price.
Method 5: OPEN ACCOUNT
That method applies to import of goods only. Under that method,
the buyer obtains possession of the goods after customs clearance
and is allowed to defer payments for 30 days. This method
cannot apply to first-time buyers. Although it can be applicable
from the third order of a recurring buyer, Lyncoln Solutions
reserves the right to refuse to apply this method to any client
at any time, without notice.
The Open Account method of payment generates a 15% increase
in the agreed total price.
PAYMENT TERMS -
SUMMARY TABLE
PAYMENT
TERMS – IMPACT ON ORDER TOTAL PRICE
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