Search results
The remaining 70% is paid after the goods are shipped out from the supplier's location and the supplier has provided a copy of the B/L (Bill of lading). Why is a 30% deposit typically required in international trade?
Jan 8, 2019 · You may have seen cases where payment term mentioned as 100% on BL or TT on BL. Here customer is requested to make the payment only after they received the draft BL and still payment term goes as advanced payment
Jul 29, 2021 · How to Make Telegraphic Transfers (T/T) to Chinese Suppliers. Suggestion: Watch the 10 minutes video tutorial before reading this article. Telegraphic Transfer (T/T) is the most common way to pay manufacturers in China, and elsewhere in Asia. That said, Telegraphic Transfers are irreversible once the payment is made, and the bank is not ...
- When writing money to your supplier’s bank account, you need to make sure that all beneficiary and bank details are correctly, and fully filled in....
- The risk of payment frauds are always present when transferring money internationally. As such, you must always check if the bank account beneficia...
- When suppliers quote a price, they don’t take bank transaction fees into considering. Not even the fees charged by their own bank. Some suppliers m...
- For unknown reasons, Chinese account managers are allergic to checking their own bank accounts, and tracing payments made by their customers. For t...
- In case you manage to type in the wrong beneficiary information, there are two things you can do: a. Wait for the money to be returned to your bank...
- Maybe we missed something, or perhaps you have personal experiences to share with us and our readers? We’d love to hear from you. Simply write a co...
- It can be hard to go from a design drawing to finished product. To help you manage the entire process – from creating a specification, to sampling...
Nov 17, 2023 · If you don’t want the goods to “leave port” before you get paid 100%, then you need to collect 100% of the payment before you bring the goods to the port.
Nov 1, 2023 · The balance payment is typically made upon presentation of the copy of the Bill of Lading (B/L). This payment method offers more flexibility, with the common practice being a 30% deposit from the customer and the remaining 70% paid after reviewing the B/L.
Apr 6, 2021 · The buyer first gives a 30% deposit, and the other 70% remaining balance paid against the copy of B/L. Of course, some have a 40% deposit and 60% on the B/L. T/T after shipment. The TT after shipment is defined as after the goods are delivered, the buyer pays the balance. The TT after Shipment is based on the copy of the B/L to pay the balance.
Apr 28, 2021 · There are mainly two kinds of collection: Documents Against Payment (D/P) and Documents Against Acceptance (D/A). D/P means documents against payment. The seller prepares the documents for negotiation after delivery and delivers the documents through the seller’s bank to the customer’s bank.
