Replying to [Catalyst]: Glad to see your point.

Replying to [Foow]:

yeah,quite right ,we should take different methods in different situation ,everything is not fixed.

Quoting from [Admin]:

Telegraphic Transfers (T/T) and Letters of Credit (L/C) are the two most common payment methods in international trade; but what are their advantages? Is L/C the best choice for a secure transaction? Is T/T the best for simplicity and speed?

 

Which payment method do you prefer for your business transactions?

As for as seller , TT is the best method: For the buyer Letter of credit is better: TT nowadays swift trafer and reach the benificaiary account within seconds: LC  is a document when the seller satisfy the buyer with proof of document and present all into the Bank and get credit::

Replying to [Admin]:T/T has some advantage for Buyers such as more speed to recieved of Goods, be sure to do dealing from seller, ability of seller to supply of Goods, more care for more quality of Goods from seller, more discount of price from seller, more trust to buyer from seller.

Replying to [Admin]:

I am sure not all buyers could pay by L/C, if their business is new or small, but would depend on the bank they apply too, how long have they been in business and their accounts, at the end of the day its finance.
The supplier has some say, as we would see most suppilers like to use T/T, some factories could not get by without getting some money upfront for the orders, and as some factories pay out for high cost items from other factories like engines, they need to have funds ready for buyers using L/C or have a good bank manager, so as we see not all suppliers offer this mode of payment to the buyer.

When you look at the security side of things, fact is you should not send payments to any supplier without making your due diligence checking is paramount.

Replying to [Catalyst]:We always make it like this:
Pay 30% of the total amount as deposit;
Pay the rest against delivery.

Replying to [Admin]:

I like L/C ... it's not only a payment, but deal with terms and conditions.

Replying to [Catalyst]:
you are right.

Replying to [Admin]:

Can I Have Information About.

Internet banking and then paying.

thats a a hole ? for me

Replying to [Catalyst]:
Whether I use a TT or an LC is wholly dependant on the circumstances. Asking me to choose one or the other just doesn't work for me.....