Forex Services

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Forex Services Price And Quantity

Price Or Price Range INR
Minimum Order Quantity 1 Piece

Forex Services Trade Information

Payment Terms Letter of Credit (L/C) Western Union Paypal Letter of Credit at Sight (Sight L/C) Telegraphic Transfer (T/T) Cheque Cash Advance (CA)
Supply Ability As per Clients Demand Per Day
Delivery Time 3-4 Week
Sample Available Yes
Sample Policy Sample costs shipping and taxes has to be paid by the buyer
Packaging Details As per Clients requierment
Main Domestic Market Madhya Pradesh

Product Description

The Telegraphic Transfer is standard bank transaction, placed either through your internet bank, or in a local bank branch. This payment method is accepted by all Chinese manufacturers with a bank account. Virtually all that is. Albeit common, it offers no protection by itself, unlike the which I'll get back to in abit.

T/T Payment process

Deposit payment (30%)
Production starts
Production completion
Quality Inspection/ Compliance testing
Buyer approves batch
Delivery to the Port of Loading (e.g. Shanghai)
Bill of Lading Scan Copy provided
Loading & Shipment
Balance payment (70%)
Seller sends original Bill of Lading and other freight documents (required to release cargo in Port of Destination)

Other suggestions

Recommended division between deposit and balance payment: 30% Deposit (Before Production) / 70% Balance (After Production)
Never pay the deposit before you have a signed and stamped Sales Contract &Perform a invoice.
Never pay the balance before you have completed any Quality Inspections (in China) or received Product Test results (for example REACH, RoHS and CA Prop 65)
Never prepay 100% before production. By doing so, you remove the suppliers incentive to remake or repair defective or non-compliant items.
Most Trading Companies also require you to pay a deposit about 30 days before delivery to Port of Loading (in China). The reason is simply that most Trading companies in China don't have ready-made products in stock but is rather subcontracting your order to a local factory.