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T T PAYMENT 42 replies,77121 views

#1
I need some advice,a new client of mine wants me to send him a container of my product as against TT payment,we agreed that when I send the product and send him photocopies of shipping Docs he will release 100% of my payment then I can send him the originalsof the shipping docs,is this a safe practice.Urgent reply wanted.
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#2
Re: T T PAYMENT
I cannot say this is safe or not. The question is how much you trust your buyer. As for my company, we never accept 100% TT payment against document. We will ask for 40% TT advance payment. Balance 60% is against fax copy ofnon-negotiabledocument. If no payment is received, original documents will not be sent. But again, this might not be a healthy practice because they may also reject our goods because we are being fussy with payment. The worst case, it is the seller who lost. There is one other method of payment that you can try. It is by At Sight Irrevocable Letter of Credit. However, it also needs some agreed term and condition. Therefore, how much you trust your buyer. This is really a dilemma for seller. Maybe someone with more experience can share us some thoughts. I am also new in business through the internet.
#3
Re: T T PAYMENT
Quoting form [umbuwalagi]:

I need some advice,a new client of mine wants me to send him a container of my product as against TT payment,we agreed that when I send the product and send him photocopies of shipping Docs he will release 100% of my payment then I can send him the originalsof the shipping docs,is this a safe practice.Urgent reply wanted.

I would say that it is a quite safe procedure since the photocopies do not represent the goods, only the original ones. Hence the buyer is requiring the photocopies as a proof of the contract.
#4
Re: T T PAYMENT
I think this TT payment is more safely,our customers always pay by this payment.
#5
Re: T T PAYMENT

I am new to this business. What is the meaning of t/t payment?

#6
Re: Required documents for resellers.

I need some advice on importing electronics, especially PSP system/ portable playstation by SONY. What kind of authorization I need to get from Sony to be able to resell their product and comply with the Trademark laws? Also, I am interested in other electronics products, what should I look for? documentations and conpliance with FCC/FDA rules etc....

Thank you 

#7
Re: T T PAYMENT

T/T mean telegraphic transfer

However, I think buyer will have problem to trust seller by using T/T. The best procedure is using either L/C or escrow.

L/C = Letter of Credit. Work same as escrow, but may be more secure. Ask your local bank, they will provide the service. =)

#8
Re: T T PAYMENT
Paying for the **** of the goods that i was selected before

Kindly send the goods because I have already made the payment by TT.
#9
Re: Re: T T PAYMENT
Replying to [astrobox]:It is not safe in some countries as with photo copies you can release your products.
AS i have sent item to anothercountry from uk and sent documents by fax and the contaner where released.
#10
Re: T T PAYMENT
Replying to [umbuwalagi]: Yes that is for sure you can release it with copies in some countries.
#11
Re: Re: T T PAYMENT
Replying to [tankie]: TT. Telegraphic Transfer. One kind of money tranfer between buyer and supplier.

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