What's your payment term?

What's your payment term?

What's your payment term?
Baolai Fortune Payment Term

1. The value of the goods ≤1000USD, Payment is 100% in advance.

2. The value of the goods >1000USD,Payment is 30% T/T in advance ,balance before shippment. 

What Is a Telegraphic Transfer (TT)?

A telegraphic transfer (TT) is an electronic method of transferring funds utilized primarily for overseas wire transactions. These transfers are used most commonly in reference to Clearing House Automated Payment System (CHAPS) transfers in the U.K. banking system. Telegraphic transfers are also known as telex transfers.

3. L/C at sight (For big order, LC at 30-90days can be acceptable)

What Is a Letter of Credit?

A letter of credit, or a credit letter, is a letter from a bank guaranteeing that a buyer’s payment to a seller will be received on time and for the correct amount. If the buyer is unable to make a payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase. It may be offered as a facility.

Due to the nature of international dealings, including factors such as distance, differing laws in each country, and difficulty in knowing each party personally, the use of letters of credit has become a very important aspect of international trade.