8 Types of Payment Terms for Exports
The transaction of an international trade order often starts with the payment. Below we will briefly list several common payment methods and the problems that will be encountered. Payment is distinguished by the account received: 1. Public accounts: T/T, L/C, D/P, D/A, O/A 2. Private accounts: Western Union, Paypal, MoneyGram, T/T Below we introduce you to 8 Types of Payment Terms for Exports： T/T , L/C, D/P, D/A, Western Union, Paypal, MoneyGram, O/A T/T (Telegraphic Transfer) T/T (Telegraphic Transfer) is a remittance method in which a remitter sends a telex or telefax to a branch or correspondent bank in another country (i.e., the remitting bank) at the request of the remitter, instructing it to pay a certain amount to the recipient. T/T payment method is settled by cash in foreign currency, your customer will remit the money to your company's designated foreign exchange bank account, T/T belongs to commercial credit, after the goods are ready, if the customer will pay the full ...