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L/C D/P T/T

HOME > PAYMENT > Service Details
  • Service Details
  • Letter Of Credit
  • Documents Against Payment
  • Telegraphic Transfer

  • Service Details

    Buyers can utilize three different payment methods when purchasing through Seacamels. These flexible payment methods include Letter of Credit, Documents Against Payment, and Telegraphic Transfer.To assure that the factories are capable of fulfilling the agreements with buyers, and that the transaction process is secure and convenient, all suppliers are required to pass an audit, and qualification terms set by Seacamels.

    Basic Services

    L/C：Letter of Credit

    D/P：Documents Against Payment

    T/T：Telegraphic Transfer

    Entry Conditions

    Buyers must pass the basic audit through Seacamels

    Buyers will place the order online to Seacamels

    Seacamels will import the goods to the buyer

    Service Process

    • Registration

    • Audit

    • Confirmation of terms

    • Submittance of online order

    • Production of Goods

    • Goods are shipped

    • Goods are received

    • Payment is Due

  • Letter of Credit

    The Letter of Credit, or commonly known as L/C, refers to a bank to bank payment method. The buyer will adhere to the written documents specifying the amount and the time period of the payment and shipment. The L/C is the safest and most commonly used international trading payment.

    FAQ

    Q：If I use the Letter of Credit as my payment method, do I have to purchase through Seacamels?

    A：No. Buyers can place an order to the supplier directly, however, if you are using Seacamels door to door logistics service, you may use this as a form of payment.

    Q：How does the letter of credit payment term benefit me as a buyer?

    A：It ensures the safety of the goods, and allows the buyer to make a payment after the goods have been received. It also alleviates the capital pressure because the payment does not have to be made until the date decided upon by both sides.

    Q：If I use the Letter of Credit payment term through Seacamels will I be charged a service fee?

    A：Seacamels will not charge a fee for the payment term, a fee will be charged however for the Door to Door Logistics Service.

  • Documents Against Payment

    D/P – Documents Against Payment
    The D/P transaction utilizes a sight draft. Payment is on demand.

    Documents Against Payment, or D/P, is a transaction that utilizes a sight draft where the payment is on demand. After the goods are shipped, the exporter sends the sight draft to the bank, along with documents necessary for the importer/buyer to obtain the goods from customs. The buyer then has to settle the payment with the bank before the documents are released and he/she can take the delivered goods. If the buyer fails or refuses to pay, the exporter has the right to recover the goods and resell them. According to the different payment time, payment terms of D/P is divided into D/P at sight (D/P sight) and time D/P (D/P after sight).

    FAQ

    Q：If I use the Documents Against Payment as my payment method, do I have to purchase through Seacamels?

    A：No. Buyers can place an order to the supplier directly, however, if you are using Seacamels door to door logistics service, you may use this as a form of payment.

    Q：If I am using D/P payment terms, what should I be aware of?

    A：The buyer should professionally inspect the factories and ensure production quality before placing a shipment order. Also if the buyer is worried about the initial profits of the company, they can use the D/P long-term payment option.

    Q：If I use the D/P payment term through Seacamels will I be charged a service fee?

    A：Seacamels will not charge a fee for the payment term, a fee will be charged however for the door to door logistics service.

  • Telegraphic Transfer

    Telegraphic transfer or telex transfer, often abbreviated to TT, refers to electronic transfer of money from the buyer to the bank. The buyer must apply for dispatched telax, or SWIFT with a bank in the country of the manufacturing. The money will then be transferred from the buyer directly to the bank.

    FAQ

    Q：If I use the T/T as my payment method, do I have to purchase through Seacamels?

    A：No. Buyers can place an order to the supplier directly, however, if you are using Seacamels door to door logistics service, you may use this as a form of payment.

    Q：If I am using T/T payment terms, what should I be aware of?

    A：The buyer should professionally inspect the factories and ensure production quality before placing a shipment order. Also if the buyer is worried about the initial profits of the company, they can use the T/T long-term payment option.

    Q：If I use the T/T payment term through Seacamels will I be charged a service fee?

    A：Seacamels will not charge a fee for the payment term, a fee will be charged however for the door to door logistics service.