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Bridging the gap between the Mekong Delta’s rich resources and the rigorous demands of the global market through “Quality Through Selection.”

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Vietnamese Pangasius Supplier: The Ultimate Sourcing

Order & Payment Policy

Order & Payment Policy

1. Ordering Procedure

To ensure seamless processing and fulfillment, please adhere to the following standard operating procedure:

  1. Inquiry & Quotation: Submit an official inquiry detailing specifications and volume.

  2. Contract Execution: Upon agreement of terms, a Sales Contract or Proforma Invoice (PI) will be issued.

  3. Order Confirmation: The order is officially confirmed only upon receipt of the required deposit or an operative Letter of Credit (L/C).

2. Payment Terms and Methods

BAKACO accepts only the following payment instruments to ensure transaction security:

  • Telegraphic Transfer (T/T): Typically structured as a 30% down payment with the 70% balance due as specified in the contract.

  • Irrevocable Letter of Credit (L/C) at Sight: Must be issued by a reputable international bank and confirmed by BAKACO’s designated bank.

Note for First-Time Clients: To establish a commercial relationship, initial orders require a 30% T/T down payment within five (5) business days of contract signing, with the remaining 70% due upon presentation of shipping documents (excluding the Original Bill of Lading), or a 100% Irrevocable L/C at Sight.

3. Order Execution & Production

  • Commencement: Production and logistics scheduling will strictly commence only after the 30% deposit is credited to BAKACO’s account or the L/C draft is officially confirmed and opened.

  • L/C Draft Approval: To avoid discrepancies, the Buyer must submit the L/C draft to BAKACO for review and approval prior to formal issuance.

4. Default, Delays, and Cancellations

  • Late Payment Penalties: Payments delayed beyond the contracted timeframe will incur a penalty interest rate of 12% per annum, calculated on the outstanding balance.

  • Market Volatility: If the Buyer fails to process payment within five (5) working days of the agreed date, any price increases caused by market fluctuations will be borne by the Buyer.

  • Balance Payment Deadline: If the 30% balance is not settled 10 days prior to the shipment date, a final reminder will be issued. Failure to settle within five (5) days of shipment will result in a mandatory rollover of the shipment date. BAKACO assumes no liability for quality degradation resulting from such delays.

  • Contract Cancellation: Should the Buyer cancel the contract prior to shipment or refuse the cargo at the destination, a penalty of 20% of the total contract value will be applied.

5. Quality Assurance & Rejection Clause

BAKACO stands by the quality of its products. In the event of a regulatory rejection at the destination port:

  • Criteria for Rejection: This clause applies strictly to rejections by Health Authorities due to microbiological issues or prohibited chemical residues.

  • Documentation: The Buyer must provide official documentation (sanitary authority test results/rejection letter) within two (2) weeks of the container’s arrival.

  • Resolution: Upon verification, the Seller will reclaim the cargo at the CIF invoice value.

  • Expense Allocation: * Seller’s Responsibility: All domestic charges in Vietnam and the original invoice value.

    • Shared Responsibility: Costs related to the return freight and discharge port expenses shall be split equally (50% Buyer / 50% Seller).

  • Refund Timeline: Unless otherwise negotiated, the Seller shall refund the contract amount within two (2) weeks of the cargo reaching its return destination.