Payment in export process
There are three commonly used international payment methods, namely letter of credit payment method, TT payment method and direct payment method.
Letters of credit are divided into two categories: clean letter of credit and documentary letter of credit. Documentary credit means the letter of credit that is accompanied by the documents specified, and the letter of credit without any documents is called clean credit. To put it simply, a letter of credit is a guarantee that the exporter receives payment for goods. Please note that shipment for export goods should be made within the validity of the l/c, and the l/c date of presentation must not be later than the validity date of the l/c.
In international trade, l/c is the preferred method of payment, and the issuing date of l/c should be clear, clear and complete. Several state-owned commercial Banks in China, such as bank of China, China construction bank, agricultural bank of China and industrial and commercial bank of China, are able to open letters of credit (the opening fee of these major Banks is 1.5‰ of the opening amount).
TT payment is settled by foreign exchange cash. Your client will remit the money to the foreign exchange bank account designated by your company. You can ask for remittance within a certain period after the delivery.
Payment is made by direct delivery between the buyer and the seller.
Related Industry Knowledge
- Types of traffic lights
- Solar street light considerations
- Traffic Signal Control Advantage
- What are the general solar street light source ...
- How does the traffic signal go when no traffic ...
- Solar street lamp wiring considerations
- The principle of road traffic signal control
- How to set the distance between solar street li...
- Traffic light time setting
- Solar street lighting routine maintenance
- Q235B Steel Plate
- Q235B Steel Plate Use
- Q345 Steel Plate
- Lightning Tower
- Fresnel Lenses
- Fresnel Lens Function
- Fresnel lens applications
- Fresnel lens solar energy
- Street lamp light pole
- Technical requirements for lamp posts