50% In Advance, 100% Before Shipment
A new mode of trade has emerged – at least in the construction industry – where overseas suppliers expect an advance of 50 per cent of the total payment of an order.
Saturday 15 April 2023 | 16:53
A new mode of trade has emerged – at least in the construction industry – where overseas suppliers expect an advance of 50 per cent of the total payment of an order.
And suppliers want 100 per cent payment, prior to shipment of orders, the Construction Industry Council of Fiji has revealed.
“This can cause cash flow difficulties for contractors, if developers have not been forewarned that such advance payments will be required,” council vice president, Jon Orton, said.
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“The cost of construction has increased considerably over the past 18 months as a result of this demand.
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Story By: Frederica.elbourne@fijisun.com.fj
