Payment Policy

1. General information
Supplier (Party A): Co May Sa Dec Co., Ltd.
Buyer (Party B): Customer

2. Terms in the contract

2.1. Party A only accepts order payments via bank transfer:
Account number 1800196868 at Asia Commercial Joint Stock Bank (ACB) – Sa Dec Branch, Dong Thap; Account holder: Co May Sa Dec Co., Ltd.
Account number 112600018686 at Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) – Sa Dec Branch, Dong Thap; Account holder: Co May Sa Dec Co., Ltd.
2.2. For deferred payment policy: Credit limits and credit terms, early payment discounts, and late payment interest are specified in the contract for each customer.
2.2.1. In case Party B incurs deferred purchases of aquaculture feed from Party A, Party B must ensure payment guarantee procedures by mortgage of assets or bank guarantees to secure payment and guarantee that Party B is the lawful owner of the collateral assets and that such assets are not subject to any mortgage or dispute by any other entity or individual.
2.2.2. In case Party B (direct farmer) incurs deferred purchases of aquaculture feed from Party A, besides complying with Section 2.2.1, Party B also commits to mortgage farmed fish assets in ponds, cages, rafts to Party A. When Party B wishes to sell fish, Party B must notify Party A and obtain Party A’s written consent. Party A has the right to request Party B to sell fish or Party A has the right to sell fish when the fish reach harvest size (from 500 grams or more) to settle the aquaculture feed debts. The selling price will be determined according to the market price at the time of sale. Party B is only allowed to use the aquaculture feed sold on credit by Party A directly for Party B’s fish ponds. Party B bears all risks during the farming process regarding the quantity and quality of farmed fish until harvest (accepted for purchase by a third party buyer). Using feed for improper purposes without Party A’s confirmation is considered a breach of contract by Party B. Party B authorizes Party A to collect all proceeds from the fish sale on behalf of Party A.

2.3. For prepayment policy: Prepayment costs, payment timing of the remaining value, early payment discounts, and late payment interest are specified in the contract for each customer.

2.4. Party A is responsible for providing Party B with documents serving as the basis for payment, including invoices, warehouse release notes, and delivery records.

2.5. Based on purchase documents, Party A is responsible for sending a debt reconciliation statement (including principal and interest) incurred within 15 days from the end of the month.

2.6. In case Party B does not place any orders for 30 days or more or stops cooperating with Party A, Party B must settle all outstanding debts to Party A (if any) within no later than 30 (thirty) days from the due date of the last order.

3. Contact information
CO MAY SA DEC CO., LTD
Address: Zone C, Sa Dec Industrial Zone, Sa Dec Ward, Dong Thap Province
Phone: 0277 3763 829
Hotline: 1900 636 662
Email: comaysadec@comaygroup.com