A vietnamese want to settle up my marine shells using L/C? a Vietnamese want to pay my deep-sea shells using L/C or

a Vietnamese want to pay my deep-sea shells using L/C or letter of credit , is memorandum of credit ok ? how does it works ? do i have to settle for the shipping of the shells to his country , he is going to oder 11 tons of shells .

Answers: I would not ship them the sea shells unless I have a check in my hot little hand. You are going to get stuck next to bad debt. And if they do distribute a check you had better relay them you will not ship until the check clears THEIR bank. Otherwise you could deposit the check and find out weeks following it was bleak. Be very far-sighted dealing oversees, you just don't hold the laws to protect you.

My Uncle only just had a client oversees that needed him to ship water softening unit. It seemed terrifically professional and all on the even. He cashed the check but told them he would not ship the unitls until the money had cleared their edge. He deposited the money in an rationalization seperate from the regular business account to build sure all be well. He be right 2 weeks later he found out it be all a scam. The first small amount they have sent was honourable, but the second larger amount was no appropriate. Thank God he was smart adequate not to ship the units.

I hear an alarm bell going sour. Check with your guard, for the best advice on this.