Our first major consideration is Reliability. It’s critical to now if a foreign supplier can consistently then supply a quality product on time before you even think about issuing a purchase order. Any order that deviates from the contracted specifications and quality will result in the non-delivery within the contracted time for shipment. A delay in your supplier’s delivery can cause a lost profit and may hurt your reputation as an importer. Such a delay may result in shipment rescheduling, issuing another letter of credit (L/C), or amending the L/C. In both cases, it means additional bank charges and loss of time for you. Another problem with unreliable delivery from your supplier is the possible cancellation of the order from your domestic buyer.
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