The exporter should ensure that the approved buyer whose name and address is shown on the credit limit is the same party with which he/she has entered into the contract of sales. A slight variation in the name of a company can mean another separate legal entity. Should you wish to trade with the buyer’s parent or associate or subsidiary companies, it is necessary for you to send in separate Credit Limit Application (CLA) since members of the buyer’s group of companies are different legal entities. You should also pay particular attention to the amount, the payment terms, the expiry date (if any) as well as any specific conditions shown on it, e.g. the credit limit covers specific shipment only or you must report overdues to Credit Oman immediately or any other endorsement attached to the credit limit approval.

0 replies

Comment on this FAQ

Want to join the discussion?
Feel free to contribute!

Comment on this FAQ