I received a project in which payment terms is mentioned as 45 days PDC. But I don’t know what is the meaning of PDC. And also please tell me what is the meaning of Duty exempted order and Exworks.
From United Arab Emirates, Dubai
1From United Arab Emirates, Dubai
Hello flasher,
PDC: Post-Dated Cheque, which means you get the payment with a future date than when the payment is due--usually adopted by companies when they either have a funds crunch or when they want to postpone their cash outflow to a later date. You can encash the cheque only AFTER the date mentioned on the cheque. 45 days PDC means 45 days AFTER the delivery or payment becoming due.
Duty-exempted Order: usually given by Govt-related organizations/departments or govt-related Orders released by private entities, since such Orders have exemptions as per law.
Ex-works: means the pricing is calculated when the material/order LEAVES the Works/Factory. So transport costs, transit insurance & such costs are EXTRA.
Hope this helps.
Rgds,
TS
From India, Hyderabad
PDC: Post-Dated Cheque, which means you get the payment with a future date than when the payment is due--usually adopted by companies when they either have a funds crunch or when they want to postpone their cash outflow to a later date. You can encash the cheque only AFTER the date mentioned on the cheque. 45 days PDC means 45 days AFTER the delivery or payment becoming due.
Duty-exempted Order: usually given by Govt-related organizations/departments or govt-related Orders released by private entities, since such Orders have exemptions as per law.
Ex-works: means the pricing is calculated when the material/order LEAVES the Works/Factory. So transport costs, transit insurance & such costs are EXTRA.
Hope this helps.
Rgds,
TS
From India, Hyderabad
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