BUSINESS QUERY
Ravdeep Singh Chadha
(Querist) 03 January 2010
This query is : Resolved
Sir,
I am into Automobile business, i have supply i many places in INDIA recently i met a client on the web belonging to BANGALORE and i belong to NEw Delhi.
That person has provided me the quantities of items that he need which are HUGE and has been asking for a 30 days credit by giving a cheque of post date.
So what terms and conditions i should set before starting dealing with him or any agreement to be legally sound and on the safe side in case there is any breach from his side.
Thank You,
Ravdeep Singh
Devajyoti Barman
(Expert) 03 January 2010
It requires a detailed drafting containing default and penal clauses.Consult a lawyer.
Raj Kumar Makkad
(Expert) 03 January 2010
Obtain bank guarantee or LC from his banker before the deliver any quantity to him as the same may create a huge problem for you in future. You should also properly enquire about the buyer party from local market as well as from other parties which supply him such items. It should also be enquired what attracted him towards you and why is he changing his old sellers all of a sudden and why he has put such huge order at one say.....
It is good to make lesser business than to lose heavier.
