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What is the most popular payment terms that preferredand accepted by 99% Chinese factory or Company

Source:here4interpreters-shenzhen interpreter shenzhenAuthor:Shenzhen Freelance Interprete Jason Yang

The most popular payment terms that preferredand accepted by 99% Chinese factory or Company

As you know that there are quite a lot ofpayment terms in global import and export business. Like L/C at sight, L/C at 60days sight, T/T 100% in advance, T/T 30% deposit, balance before shipments, T/T30% deposit, the balance against copy of B/L within 1 week.; (D/P) documentagainst payment; (D/A) documents against acceptance, etc. and different paymentterms means different risk rate to buyers and sellers both, so it is very importantto choose a proper payment terms when you selecting suppliers in China and alsovery basic to know which payment terms is most popular among Chinese exporters.  

As freelance Shenzhen interpreter JasonYang used to work in different factories as salesman and also he has accompaniedso many customers that from different countries as their interpreter/translator/businessguide in Shenzhen. I would like to give Reference Answer to one of the top 10 questions that frequently raised by my clientfor their potential Chinese supplier: What payment terms does your company support?

Naturally, the Chinese supplier’s favoriteterm would be 100% payment in advance by T/T, while this means the biggest riskfor the importers. Therefore, the importers like the most to make payment afterall goods received and quality checking passed. If in this way, deal wouldnever reach an agreement. Hence there comes the most compromised and popularpayment terms, but still more benefit for the exporter: that is the 99% of thechina factory or suppliers common payment terms: 30% deposit and the balancebefore shipments.

While, my advice for clients is that ifsmall amount you could make payment by PayPal, Western Union, Unistream or T/T fullamount in advance, while the most secure and appropriate payment from buyerspoint view is the L/C while only a very small percentage of China factories orcompanies support this payment terms, so if you cooperate with Chinese supplierit is better to accept the terms of payment “30% deposit, the balance beforeshipment, or the balance against BL, but you need quality checking andinspection before loading on container, and it is better to have you moth andear in China on long term basis.”  

Therefore, here4interpreters not onlyprovide Shenzhen interpretation and business guide service while you are in China, We alsodo all the follow up and communication representing buyers with factory whileyou are away. And what’s good news is that here4interpreters could provide the mostfavorite and real risk-free payment terms for the most professional, capableand responsible Shenzhen freelance interpreter provider) here4interpreters’ potentialcustomers, we could allow payment at end of each day’s service by Cash. It notonly get rid of any risk of the customer and also saves the banking and servicecharge of Credit Card.

Jason Yang (Shenzhen Interpreters ShenzhenTranslator/)