date:Mar 27, 2019
r to that deal, GASCs letters of credit banking guarantees for on-time payment to sellers were being issued prior to shipment, with payment guaranteed within 180 days.
GASC is reverting to that deferred payment system for its upcoming tender, the government source said on Monday.
A senior government source told Reuters in January that the financing from Islamic Trade Finance could be renewed when the initial $1 billion tranche was used up, so deferred payments would no longer make purchases