Which terms are you on ?
Generally speaking there are many date available but fall into mainly 2 categories
1. Credit Terms ( 45ddd, 30ddd, 21ddd, 7ddd, COD)
Which means from date of bunkering ( as state on the BDN ) to the payment due date. If you have a 30ddd credit with a supplier, your vessel is supplied on 1 May, then due date is on 1 May + 30days, if you have a 14ddd, then due date is 1 May + 14days respectively.
COD is considering credit because although it was suppose to pay immediately after the supply, but normally the BDN take 3-7 days to reach back to shore and by the time invoice is issued, its normally after 3 days.
2. Cash in Advance
if your company is new or previously into some financial trouble, first few stems is normally cash in advance, which means cash funds in nominated bank account and supplier will then deliver the bunkers. Do few cash in advance to establish relationship and have a payment record is a good starting point for future credit lines. However do check beforehead on who you sending money to, more on this topic at How to vet a new supplier
Hope its helpful to you, until next time !
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