How Can I Ensure Secure Payments from Clients with Different Advance Payment Preferences?

Hi, I have established a proprietor firm to supply agro products. I have clients from other states whom I don't know personally, but they do have a GST number. When I requested them to provide turnover and annual reports while placing an order (PO), they refused, stating they would only share the information if we meet in person.

Some of my clients prefer to pay a 20% advance against the LR copy, while others wish to pay nothing upfront. The remaining amount (either 80% or 100%) they plan to pay via RTGS upon goods delivery. Additionally, they are offering post-dated checks or a blank cheque for security, which they will retrieve upon paying via RTGS after delivery.

My main concern is whether my payment is secure from the buyer, considering these arrangements. I am preparing an agreement that covers all aspects with specified terms and conditions.

You can negotiate the bills through your banker.
On making payment, the bank will release documents for the collection of the item.
Once both develop mutual confidence and trust, payment terms can be settled.

Shri Nathrao is correct. It depends on what types of goods you are selling. If it is a monopoly item, you can insist on the purchaser for an L.C. Payment.

A. Prakash