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Payment Terms with Buyers from Bangladesh



Working in such a huge industry of Construction Machinery and being a Marketing Consultant for a Construction Equipment Supplier, I have came across different types of buyers from around the globe. The major contribution was from Arab countries like Dubai, Egypt, Bahrain, Qatar, Kuwait and Saudi Arabia. The second most popular region was Middle East and Asia. To be specific, Bangladesh had shown huge interest in the construction machinery business and especially in used equipment. The buyers from Bangladesh are serious and ready to invest without any second thoughts.

But what I faced while being in contact with the buyer and the supplier that payment terms between both of them didn't match. The buyer wanted to pay through LC (Letter of Credit), however the supplier couldn't agree to anything other than TT.

The buyer was interested in used construction heavy excavators of Tadano brand but because of this disagreement on payment terms the deal couldn't get through. The supplier if would have taken this thing seriously, then it would have given him good business. And the beauty of this industry is your one time buyer becomes your life time buyer. So it would have been a healthy business if gotten through.

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