"Here is a payment from Turkey for your company. But what is it for?" A lady from Bank of China gave me a call this afternoon! I know it's Risar's early payment! He really did it again as his promise. "I will come to your office and explain all to you" I replied the day then began to prepare documents for this fund.
Actually, it's a payment for usance L/C which is should be paid 30 days after sight. But Risar made it as soon as I send him BL copy by fax. I even did not submit shipment documents to bank. This is just because I told him we need money now. He is really a good friend. This is his 4th times to do so. Every time I told him my company need money urgently, he would make early payment for 30 days after sight L/C. The L/C seems no-good to our business.
Honestly, Risar's price is not so good. Turkey government impose high dumping duty for fittings from China. Risar, therefor, usually asks very low price. Our company every time just can get little profit from business. But we really are enjoying a very good cooperation! All L/Cs he issues are 30 days after sight L/C. But he makes early payment outright once I ask for it! Even my bank, Bank of China, complained me for that for many times. " It's not the normal way of L/C payment, we will refuse it next time" the lady who is in charge of balance said that every time. Sure, Risar's early payment is not common. It's not for business but for trust and friendship. Bank really does not like this way. Because every time the payment arrives us 100%. For L/C payment, bank usually deduct about 100-300 dollars for advising, documents, post and reimbursing and especially for discrepancies in documents.It's absolutely a good gain to bank. But for Risar's early payment, bank did not reduct anything. I do not know what he arrange it. Or he paid all charges for us?