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متابعة

A corporate paid an advanced payment to a supplier which of the following are better to guarantee its payment :?

1-   Receive a check against the payment from the supplier  .

2- Receive a letter of guarantee from the supplier .

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تاريخ النشر: 2015/08/09
Gautam  Chand Jain
من قبل Gautam Chand Jain , Controller Global Subsidiaries , RAK Ceramics P.J.S.C

In the material advance it should be cover by global Bank guarantee. In case smaller amount we may consider for undated cheque.

 

Adil Mohammad
من قبل Adil Mohammad , Accounting Manager , Leading Steel Industries co- joint stock co.

against letter of guarantee from supplier

AGHA MUZAHIR HUSSAIN CICP CIMA Cert BA
من قبل AGHA MUZAHIR HUSSAIN CICP CIMA Cert BA , Credit Controller , Gulf Food Company Americana LLC

It depends on the amount, if the amount is small then it is better to have to check, as to do all the paper work for Letter of Guarantee you will have to incur expenses, so if the amount is small them getting a check is better.

But if the amounts are higher then it is advisable to go for LG (Letter of Guarantee)

 

Best Regards

Muzahir

Badar Khan
من قبل Badar Khan , Accounts cum administrative assistant , Al Qassimia Drivng Training Centre.Sharjah

--------------------------------the correct answer is (2)

1-   Receive a check against the payment from the supplier.................................................

Puruswotam Budhathoki Anita Budhathoki
من قبل Puruswotam Budhathoki Anita Budhathoki , cashier , Olayan food services company

Receive a check against the payment from the supplier  .

 

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