This was an article previously written by one of Alibaba's Moderators known as Sixer.

The post had become to large but the intial post can be reviewed at:

http://resources.alibaba.com/topic/5782/Why_China_prefers_TTs_.htm

Sixers Article:

Most Chinse shy away from L/C mode of payment when entering negotiations and insist on T/T mode
Is it ignorence? Is itFear Of Unknown or plain lack of Confidence?
Or they can not meet deadlines of delivery inherent in L/C terms? Feb 16, 2007 Dear Friends, To-day , eleven months after I post this topic, i can feel proud that a large number of members have put forward their views, some of which are really thought provoking. Let us now start thinking and suggesting what are ways and alternatives to this trade barrier of sorts, so that more trade is encouraged and everyone feels secure.

Sixer

 

Quoting from [Ranger]:

This was an article previously written by one of Alibaba's Moderators known as Sixer.

The post had become to large but the intial post can be reviewed at:

http://resources.alibaba.com/topic/5782/Why_China_prefers_TTs_.htm

Sixers Article:

Most Chinse shy away from L/C mode of payment when entering negotiations and insist on T/T mode

Is it ignorence? Is itFear Of Unknown or plain lack of Confidence?

Or they can not meet deadlines of delivery inherent in L/C terms? Feb 16, 2007 Dear Friends, To-day , eleven months after I post this topic, i can feel proud that a large number of members have put forward their views, some of which are really thought provoking. Let us now start thinking and suggesting what are ways and alternatives to this trade barrier of sorts, so that more trade is encouraged and everyone feels secure.

Sixer

Great Sixer and Great Ranger


Thanks for your kind effort

Wonder  that  IF  the banks  are  so advise fully,  care  and  not  bureaucratic ..

And  less cost/charge ? 

Also give an export credit / loans  to the L/C ?  although 30 - 40 %  from its amount. ?


Then  sayonara  T/T

Quoting from [Oneuni]:


Wonder  that  IF  the banks  are  so advise fully,  care  and  not  bureaucratic ..


And  less cost/charge ? 


Also give an export credit / loans  to the L/C ?  although 30 - 40 %  from its amount. ?



Then  sayonara  T/T

Many people choose the payment term with T/T before shipment, since it   charge a lot if pay by L/C.  We are a ladies' footwear company in GuangZhou of China.  One of my client place a lot of orders, but their quantity is small for each order, so we ask the client open the L/C for all the orders together, if they  place the new order, they will ask the bank to amend the L/C.   www.springfootwear.cc   Email: tinacao0827@163.com 

Quoting from [Ranger]:

This was an article previously written by one of Alibaba's Moderators known as Sixer.

The post had become to large but the intial post can be reviewed at:

http://resources.alibaba.com/topic/5782/Why_China_prefers_TTs_.htm

Sixers Article:

Most Chinse shy away from L/C mode of payment when entering negotiations and insist on T/T mode

Is it ignorence? Is itFear Of Unknown or plain lack of Confidence?

Or they can not meet deadlines of delivery inherent in L/C terms? Feb 16, 2007 Dear Friends, To-day , eleven months after I post this topic, i can feel proud that a large number of members have put forward their views, some of which are really thought provoking. Let us now start thinking and suggesting what are ways and alternatives to this trade barrier of sorts, so that more trade is encouraged and everyone feels secure.

Sixer

 

 

So...it seems that you prefer LC mode.Why is that?Is there anything wrong with preferring TTmode.The way Chinese ppl doing things is so much different with other coutries,it is better to have the payment TT quickly to be rested assured than to be worried about the unpredicted problems,like delivery time change etc which result in LC amendment charge.And it is also to protect the interests of sellers from being deceived in LC terms.

Would you pls give us a reason why not use TT as the first choice payment?

We adopted T/T as payment terms for nearly all of our customers, as we think T/T is immediately and safely. As we are a manufacturer, sometimes, we need the customers do the payment before shipment. Once we get the payment advice, we will do the shipment. It is very safety for us. Is not it? And I think L/C is more suitable for the trade company.

TT OR LC PAYMENT ONLY CHOICE

THERE'RE POSITIVE OR NEG OF TT/LC METHODE. YOU CAN USE BOTH IT'S DEPEND ON YOUR SITUATION

* IF BETTER USE TT PAYMENT IN SMALL AMOUNT

IF BETTER USE LC PAYMENT IN  HUGE AMOUNT

REGARDS,

DAVADI

Quoting from [Ranger]:

This was an article previously written by one of Alibaba's Moderators known as Sixer.

The post had become to large but the intial post can be reviewed at:

http://resources.alibaba.com/topic/5782/Why_China_prefers_TTs_.htm

Sixers Article:

Most Chinse shy away from L/C mode of payment when entering negotiations and insist on T/T mode

Is it ignorence? Is itFear Of Unknown or plain lack of Confidence?

Or they can not meet deadlines of delivery inherent in L/C terms? Feb 16, 2007 Dear Friends, To-day , eleven months after I post this topic, i can feel proud that a large number of members have put forward their views, some of which are really thought provoking. Let us now start thinking and suggesting what are ways and alternatives to this trade barrier of sorts, so that more trade is encouraged and everyone feels secure.

Sixer

 

 

I also like the TT

 

Quoting from [qzchangsheng]:

Quoting from [Ranger]:

This was an article previously written by one of Alibaba's Moderators known as Sixer.

The post had become to large but the intial post can be reviewed at:

http://resources.alibaba.com/topic/5782/Why_China_prefers_TTs_.htm

Sixers Article:

Most Chinse shy away from L/C mode of payment when entering negotiations and insist on T/T mode


Is it ignorence? Is itFear Of Unknown or plain lack of Confidence?


Or they can not meet deadlines of delivery inherent in L/C terms? Feb 16, 2007 Dear Friends, To-day , eleven months after I post this topic, i can feel proud that a large number of members have put forward their views, some of which are really thought provoking. Let us now start thinking and suggesting what are ways and alternatives to this trade barrier of sorts, so that more trade is encouraged and everyone feels secure.

Sixer

 

 

 

So...it seems that you prefer LC mode.Why is that?Is there anything wrong with preferring TTmode.The way Chinese ppl doing things is so much different with other coutries,it is better to have the payment TT quickly to be rested assured than to be worried about the unpredicted problems,like delivery time change etc which result in LC amendment charge.And it is also to protect the interests of sellers from being deceived in LC terms.

Would you pls give us a reason why not use TT as the first choice payment?

 

I have used TT payment, but did not receive any goods.

I am still waiting, in the mean time, I have lodged a complaint through alibaba.com

I will be very careful placing any more orders from China, and I will not use TT payments again.

I have begun getting used to working with T/T's and it has its benefits for the buyer too..


Yes it has its risks..and that is what i want to raise now.


The GLOBAL ECONOMIC situation as well as developments IN CHINA, even before the crisis, has put many factories in danger of closing!!!


Isn't it time NOW..to work only with L/C so that if a factory should close the money is safe.


I trust ALL of my suppliers..but if they face economic disaster even all the faith in the world will not be helpful.

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