While Gao Huai followed up with Xiao Liu to control the production progress of electromechanical products, he urged Rick to speed up the processing of bank information so that he could prepare the relevant documents for letter of credit.
Rick was quite efficient. After several email communications, his bank information was successfully processed and all the information was sent to Gao Huai.
At this time, more than a month had passed since the deposit was paid. Simingda and Wang Mudan were busy every day. The materials had been purchased and the planning department was busy arranging production.
After preparing all the information, Gao Huai applied to the issuing bank for an immediate letter of credit. When choosing the issuing bank, he specifically chose Bank M, which had a bad reputation in Country G. He contacted the manager ADM he knew by email to inquire about the issuance of the letter of credit.
ADM's main job is to contact importers for foreign exchange settlement, opening letters of credit and other business. After receiving Gao Huai's email, he quickly sent the forms and documents needed to open a letter of credit.
Gao Huai made such a big bet, and whether he could successfully turn the tables depended on this letter of credit. Therefore, when filling out the application form, he paid special attention to every clause.
First of all, the terms of the letter of credit must be completely consistent with the contract, otherwise it will affect the delivery of goods. The most important thing is the documentary collection document. Gao Huai specifically wrote down several clauses that may cause disagreements, and then sent the letter of credit application to ADM.
In order to ensure the smooth progress of his conspiracy, he deliberately added three clauses that could easily cause controversy, such as: the delivery time can be appropriately extended, the delivery location must be consistent with the description in the contract, and the seller can receive the payment within thirty days after sending the documentary proof of payment.
He knew very well that if he wanted to turn the letter of credit into a dead letter, he had to make full use of these controversial clauses. Only in this way could the fraud he had risked his life to commit succeed.
After sending the letter of credit application to ADM, Gao Huai paid the letter of credit fee in a timely manner. In order to show his sincerity, Gao Huai paid an additional benefit fee of US$5,000 to ADM. ADM was very grateful for Gao Huai's generosity.
No matter which country they are from, as long as there is profit to be made, their work enthusiasm will be exceptionally high. ADM, which received benefits from Gao Huai, is no exception. When drafting the terms of the letter of credit, he fully cooperated with Gao Huai's requirements and deliberately set several vague terms for the seller. To put it bluntly, Gao Huai wanted to use this trick to make Simingda fall into his trap.
With the strong cooperation of ADM, the draft of the letter of credit was prepared in just fifteen days.
As a senior foreign trade businessman, Gao Huai knew very well that these controversial clauses could easily lead to payment disputes in letters of credit. As long as Mingdan Company's salesperson could not find the disagreements, he would not be aware of the payment risks and he could smoothly implement his plan.
After receiving the draft, he reviewed the controversial clauses again and again to ensure that they would allow him to win the game and become the winner of the gamble.
In addition, he communicated with Xiao Liu via email for more than a month. He could see that the girl did not have much experience in foreign trade and probably would not have anticipated the risks of these three controversial clauses, so he sent the draft to Xiao Liu with confidence.
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