We acknowledge with thanks receipt of your email dated thursday,28 july 2005 alongside photograph of various sports/mountain shoes.
In the spirit of transparency, we are very eager to develop immediate business relationship with your esteemed firm soonest. Be rest assured, there's a very bright market prospects here for shoes.
However, what might actually delay our starting immediate business with you is payment. Herein Togo Republique, it's extremely difficult for us to transfer funds for our orders by L/C or T/T owing to inflation here and embargo placed by Togo government on advance foreign exchange transfer.
Following recent upsurge in the demand for foreign exchange transfer by the business community here fueled by inflation, Togo banks as directed by the government have stoped granting approvals for establishing L/C or T/T payment for goods classified by government as non-essential commodity(ies), which shoes/ footwears,etc are amongst the item's grouped as non-essential.
The strict adherence to government new economic recovery protocols have compelled most banks operating here feel reluctant to grant advance foreign exchange approval for opening L/C or advance T/T payment for commodities classified by government as non-essential.
Following recent development, the entire business community herein Togo, headed by the trade secretary has raised a committee that will have power to quiz government departments and reject regulations that are judged obstructive to the healthy conduct of business here. Meantime, we do not know when the power tussle between the trade leader's and the government will be over.
Presently, Togo government in it's bid to control inflation and stop influx demand for foreign exchange transfer by importers have introduced the D/P system of payment (Document Against Payment) or C.A.D (Cash Against Document) through banks operating here for goods classified as non-essential - commodity(Nones-com).Under the D/P or C.A.D method of payment, a bonafide importer of Non-essential commodity is required by banks here to present the original shipping documents to them as evidence of transaction, proving that foreign exchange request for transfer is for payment of goods already shipped on board sea vessel destined to Togo Republique or any west African seaport.
Further more,owing to inflation here and government borrowed funding of the economy from International financial bodies like IMF, PARIS CLUB, WORLD BANK etc,the general banking policies and principles adopted by banks here are tailor -made (formulated) by government for economic recovery reasons, and such policies are being Tele - guided by government appointed agents to ensure that they are strictly adhered.
To this effect, we kindly request you to confirm your acceptance of the D/P or C.A.D payment method through our bank here. Cash/money is ready for immediate settlement of your bills (full invoice value) of our order 1x40ft container, once you ship the goods and send the original shipping documents directly to our bank. The D/P or C.A.D system of payment is 100 percent Ok and secure just like L/C payment, the only difference is that banks here needs evidence of shipment (evidence of transaction) which is the original shipping document that will be send directly to them after you effect shipment in order to enable them transfer funds by swift T/T to your bank.
Upon your confirmation of acceptance on the above payment method,we shall discuss price and fax or email our banking data's for preparing the first consignment.
Thank you once again and awaiting to read favourably from you soon.
Wisher Trading Inc.