All of Nalcos export are based on contracts with the overseas buyer directly and
letters of credit opened by them in our favor.
Nalco vets its customers before contracting for
sale of metal / calcined alumina. In order to consider the inclusion of a firm/company
based abroad, in the list of customers, we would like them to send us the details in
terms of sales, assets, profits, company profile and other highlights of their business
activities, duly supported by published data and balance sheets for at least last three
years. Their financial standing, duly authenticated by their bankers, may also be sent to
us directly by the bank.
The standard terms for
payment is in US dollars only through irrevocable letter of credit payable sight at the counters of State Bank of India, Bhubaneswar, India, Opened in a first class bank acceptable
to NALCO, allowing TT reimbursement within two banking days and conforming to Uniform
Customs and Practices for documentary credit, revision 1993, publication no. 500 of ICC.
In case the prospective overseas buyer
has an Indian agent, the details of the agent along with an authorization
in their favour may also be furnished by the overseas buyer. |