Replying to [Admin]:
For Sellers, preferred payment method will be by T/T or COD.
This has much to do with the acceptance of the customer. Some suppliers demand advance payment by t/t on order 100% before delivery, while others on t/t before delivery. If the buyer can find some other company who gives other terms such as Cash on Delivery, this supplier will lose the order to them.
For Buyers, preferred payment terms will be 30 days payment after delivery, and invoice. Some gives 60 days period for payment, while others give 40 days period. But if there is no level of trust on either sides, the best payment method will be L/C. However the conditions for L/C is strict, there is time limit, and conditions to comply, E.g. country of origin of goods and description and part number of the goods must comply letter for letter. That is why suppliers do not like L/C payment.
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