Payment
Payment for the necessary equipment or service department services can be made:
- T.T in Advance (Telegraphic Transfer or Wire Transfer)
- L/C (Letter of Credit)
- Trade Credit or Bank Guarantee
- Payment in Advance with Escrow Services
For Any Mode of Transport (Multimodal)
- EX-W (Ex Works)
- FCA (Free Carrier)
- FOB (Free on Board)
- CFR (Cost and Freight)
- CIF (Cost, Insurance, and Freight)
Key Considerations in International Trade Payment
International Trade Payment refers to transferring money or monetary value across national borders to settle obligations arising from trade, services, investments, or other financial transactions. These payments involve the exchange of currencies and are governed by the financial regulations of the respective countries, as well as international laws and agreements.
- Exchange Rates: Payments often require currency conversion. Exchange rate fluctuations can affect transaction costs.
- Transaction Fees: Vary by payment method, bank, or financial intermediary. Includes service fees, conversion fees, and intermediary bank charges.
- Compliance and Regulations: Adherence to Anti-Money Laundering (AML) and international sanctions.
- Payment Timing: T.T Wire transfers can take 1-5 business days. Other methods like documentary collection may take longer.
- Risk Management: Risk of non-payment, fraud, and currency exchange loss. Solutions: insurance, hedging, or using secure payment methods like LC.
Refund of payment in case of refusal of goods/services by the client
Occurs in accordance with the current legislation of the People’s Republic of China
Organization Bank details (USD)
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Organization Bank details (CNY)
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