The Trade Terms are Acceptable to us:
FOB (Free On Board or Freight On Board), is one of the commonly used terms in international trade. For “free on board” transactions, the buyer shall send a vessel to take delivery of the goods, and the seller shall load the goods on the vessel named by the buyer at the port of shipment and within the time limit specified in the contract, and timely notify the buyer.
EXW” Ex Works “means that delivery is completed when the Seller places the Goods at the disposal of the Buyer at its place of residence or at another designated place (such as a workshop, factory or warehouse) and the Seller does not clear the Goods for export or place them on any means of transport.
DDU (Delivered Duty unpaid ), refers to the seller in the designated destination to give the goods to the buyer disposal, do not handle import procedures, also do not unload the goods from the delivery of transport, that is to complete the delivery.
DDP (Delivered Duty Paid) “imean that the seller is in the designated destination, deal with the import customs clearance procedures, will be in delivery means of transport has not yet unloaded the goods handed over to the buyer, complete delivery.
CFR (Cost and Freight),It means that the seller must pay the expenses and freight necessary to bring the goods to the named port of destination, but the risk, loss or damage of the goods after delivery to the deck of the ship and additional expenses arising from accidents.
The Terms of Payment Acceptable to us:
PayPal is an online payment system that is owned by eBay. PayPal makes it easy for individuals and businesses to make online payments and receive payments via email. PayPal accounts are PayPal’s most secure online e-accounts and can be used to effectively reduce the risk of online fraud
Western Union’s main business now is international remittance. Western Union has the world’s largest and most advanced electronic remittance financial network, with agents in nearly 200 countries and regions. Agricultural Bank of China, China Everbright Bank, Postal Savings Bank of China and China Construction Bank are among Western Union’s Chinese partners.
T/T(Telegraphic Transfer in Advance) is also called Telegraphic Transfer in Advance. As a kind of international trade payment method, there are generally two ways. One is 30% (or 20%, etc.) T/T in advance, that is, after the order is confirmed, the buyer will telegraphic transfer 30% of the payment to the seller, the rest of the payment after the goods are shipped, the seller will get the ocean bill of lading, fax to the buyer, proving that the goods have been shipped, and then the buyer telegraphic transfer. There is also a kind of full or 30% prepaid T/T, the rest paid before shipment.
The term confirmed letter of credit refers to an additional guarantee to the original letter of credit obtained by a borrower from a second bank. This second letter guarantees that the second bank will pay the seller in a transaction if the first bank fails to do so. Borrowers may be required to get the second letter of credit if the seller has doubts about the creditworthiness of the issuing bank of the first letter. Requiring a confirmed letter of credit decreases the risk of default for the seller.
Post time: May-19-2021