Documents of dispatch definition
Documents of dispatch means: ▇▇▇▇ of Lading or Airway ▇▇▇▇ or Warehouse Receipt, Packing List and Invoice. Documents of dispatch shall be delivered by the SUPPLIER to the PURCHASER via-email, immediately after the departure of the carrying vessel from the Port of Shipment. • For the ENGINEERING Price, against the PURCHASER’s confirmation receipt of the ENGINEERING documentation to the SUPPLIER. If the SUPPLIER does not receive the PURCHASER’s confirmation receipt within 15 days from the delivery of ENGINEERING documentation, the SUPPLIER shall be able to present the courier delivery note under the L/C, instead of PURCHASER’s confirmation receipt. ENGINEERING documentation means: General Layout and General Arrangement Drawings. Consequently, the 70% of the ENGINEERING Price, shall be paid by the PURCHASER in two (02) tranches: • € 261,975.00 (Two Hundred and Sixty-One Thousand and Nine Hundred and Seventy-Five Euros) for the General Layout. • € 261,975.00 (Two Hundred and Sixty-One Thousand and Nine Hundred and Seventy-Five Euros) for the General Arrangement Drawings. To cover the payment of 70% of the Price Contract, within 30 days after signing the Contract, the PURCHASER shall open one irrevocable Letter of Credit (L/C), in the amount of € 17,477,040.00 (Seventeen Million, Four Hundred and Seventy-Seven Thousand and Forty Euros) in favor of the SUPPLIER. The L/C shall be advised and confirmed by a First Class International Bank in Germany, acceptable to the SUPPLIER.