Payment Terms: L/C D/A T/T M/T D/D CASH D/P ??
What do these letters mean? Thanks!!
Quoting from [tropicz]:
Hi! Can anyone help me with the
Payment Terms: L/C D/A T/T M/T D/D CASH D/P ??
What do these letters mean? Thanks!!
Tropicz, I could tell you what they all are but to explain what they all mean would take alot of space. If your new to world trade the best way is to read about them. Here is a page link that will describe each in detail. http://www.unzco.com/basicguide/c12.html If you have further questions about any of them you can contact me at msfranger@hotmail.com
Ranger
Me Tech Supply
ME Tech Supply a D. B. A provides sourcing solutions for both small and medium sized businesses. We are members of the GSAA whose Agents have verified more than 2. 5 million companies World WideWe offer low cos...
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Ranger
![[em7]](http://img.alibaba.com/images/eng/style/icon/emoticons_shy.gif){kind=icon}
Glad I can see you everywhere! You are so helpful!
Maybe you can help me too, see my question as below ^_^
why they all not explain here?
I am confuse they purpose.....
![[em4]](http://img.alibaba.com/images/eng/style/icon/emoticons_sad.gif){kind=icon}
Quoting from [Yin W]:
Replying to [tropicz]:
why they all not explain here?
I am confuse they purpose.....
Yin W, what are you confused about? I know 8 ways to do letter of credit with more than 60 sub sections then there are the terms. Moderators are here to help, but we are also here to teach and direct people to the resources they need to their deals. Also you retain more and can look for the specifics that deal with your question. Books are available for review in every trade center in the world.
Ranger
Me Tech Supply
ME Tech Supply a D. B. A provides sourcing solutions for both small and medium sized businesses. We are members of the GSAA whose Agents have verified more than 2. 5 million companies World WideWe offer low cos...
More
hey,
it is not easy to explain that complex thing in here, right?
if you need some help, add me
We are here to answer more situational question's then these type.
L/C MEANS LETTER OF CREDIT BY WHICH THE BUYER ARRANGES WITH HIS BANK TO OPEN A CERTAIN SUM OF MONEY FOR THE VALUE OF THE GOODS OR SERVICES BOUGHT BY BUYER FROM SELLER WHICH MONEY WILL BE TRANSMITTED TO SELLER ONCE THE BUYER GETS PROOF OF GOODS OR SERVICES HAVEBEEN RENDERED/DELIVERY BY MEANS OF PRESENTATION OF DOCUMENTS TO THE BUYER BANAK WHICH IS THE PROOF OF SUCH AN ACT HAS BEEN DONE
D/A AMEANS DOCUMENTS AGAINST ACCEPTANCE BY WHICH AS SOON AS GOODS ARE SHIPPED, THE SELLER SENDS THE DOCUMENTS THRU THEIR BANK TO BUYER BANK WHEREBY THE BUYER BANK ACCPET THE DOCUMENTS FOR PAYMENT WHICH IS AN ACKNOWLEDGMENT OR AGREEMENT TO PAY THE VALUE
T/T MEANS SENDING MONEY BY TELEGRAPHIC TRANSFER
M/T MEANS MONEY TRANSFER OR MUTUAL TRANSFR WHEREBY THE MONEY IS TRTANSFERRED TO THE SELLER BY BUYER BANK
CASH IS ALWAYS CASH PAYMENT
D/P MEANS DOCUMENTS AGAINST PAYMENT WHEREBY THE DOCUMENTS FOR THE SHIPPING OF GOODS ARE HANDED OVER TO THE BUYER AGAINST PAYMENT
http://resources.alibaba.com/topic/10968/INDEX_OF_TRADE_TERMS.htm
Hit that link for "Index of Trade Terms" .
It is the first Topic at the top of this forum.
Everything, and more, is there in respect of Trade Terms.
Nice explanation for these terms.
Do you happened to know what are the risk of D/P for both seller and buyer and the whole process?