Payment Terms & Conditions
This document outlines the official payment terms governing all import and export transactions with Friendlovely Group. These terms are designed to ensure clarity, fairness, and security for all parties.
These Payment Terms & Conditions are an integral part of our operational framework and apply to all business conducted with Friendlovely Group and its subsidiaries. They are designed to provide a clear, predictable, and legally sound basis for our financial transactions, ensuring mutual trust and transparency. By engaging in business with us, you agree to these binding terms.
Accepted Payment Methods
Our international payment structure is designed to secure the transaction for both parties while accommodating standard global trade practices.
All international orders require a minimum advance payment of 30-50% of the total proforma invoice value. This is mandatory to secure raw materials, initiate production, and confirm the order.
The remaining balance is due based on the agreed Incoterms, which will be explicitly defined in the proforma invoice or sales contract.
Balance Payment by Incoterm
Balance payment is due upon the successful loading of goods onto the designated road transport carrier.
Balance payment is required once the goods have been loaded on board the vessel nominated by the buyer at the named port of shipment.
Balance payment is due upon presentation of the full set of shipping documents, including the Bill of Lading, insurance policy, and commercial invoice.
Letter of Credit (LC) Option
For established partners and large-volume orders, we offer a Letter of Credit option to provide an additional layer of security.
For qualifying large-volume orders, we accept a 100% Irrevocable Letter of Credit at Sight. The LC must be issued or confirmed by a prime, internationally recognized bank and is subject to our prior approval and verification.
Advance Payment Protection Policy
The advance payment is not a security deposit; it is utilized immediately for procurement, processing, logistics, and documentation. It is strictly non-refundable and non-adjustable against other orders. In the event of buyer-initiated cancellation, the advance payment is forfeited.
All domestic orders require 100% advance payment before dispatch. This ensures a smooth and efficient transaction process for deliveries within India.
All new buyers must complete our Know Your Customer (KYC) process. We require official company registration documents to ensure compliance with international trade regulations.
Additional Commercial Clauses
To ensure full transparency in our commercial dealings, the following clauses apply to all transactions.
All payments must be made in the currency specified in the Proforma Invoice. Any currency conversion costs, differences, or fees arising from the transaction are the sole responsibility of the buyer.
The buyer is responsible for all bank charges, intermediary fees, remittance charges, and transfer costs associated with the payment, unless explicitly agreed otherwise in a signed contract.
We reserve the right to withhold shipment, delay dispatch, or hold the release of shipping documents until all payment obligations are met in full. Delayed payment does not entitle the buyer to cancel the order or claim a refund.
These terms are governed by the laws of India. Any disputes will be subject to the exclusive jurisdiction of the courts in Ghazipur, Uttar Pradesh, India.
The terms outlined on this page represent our standard operational conditions. Specific terms for any given transaction may vary and will be explicitly defined and agreed upon in the final proforma invoice or sales contract. This page serves as a general reference and does not constitute a binding offer.
Building a Future-Ready Enterprise
At Friendlovely Group, our vision extends beyond current markets. We are committed to strategic diversification and forward-thinking investments that anticipate industry trends and unlock new opportunities. By embracing innovation and operational agility, we are building a resilient, future-ready enterprise that is well-equipped to navigate the complexities of the global landscape and drive sustained growth for generations to come.
Questions About Our Payment Terms?
Our finance team is available to provide additional details and clarify any terms related to our trade processes.
Contact Our Finance Desk