We have a requirement to define two payment terms as follows:
(1) TT-5% Advance, 95% Payment
(2) LC-5% Advance, 95% Payment
(TT - telegraphic Transfer
LC - Letter of Credit)
In the above terms, 95% payment in (1) is TT and in (2) it is LC.
Hence I suppose, I have to define two separate '95% payment' part, like TT-95% Payment & LC-95% Payment right ? i.e. I cannot use a single '95% Payment' component in both of the above payment terms as if I use same '95% Payment' it would not convey which is the payment method, right ?