Thread Tools Display Modes
Old 11-03-2010, 08:22 PM
Michael Michael is offline
i Wanna Learn Too
Join Date: Jul 2009
Posts: 169
Default what is the difference between lc and tt ?
Lets Talk about this
LC is Letter of Credit that is a letter that banks will provide to seller side of a transaction to verify that the buyer is able to pay that amount of money , in case if the buyer don't pay the seller the bank has to pay the seller

The L/C payment procedure is usually as follows:

a. You (the importer) applies to open the L/C to us (the seller) through a bank who can open the L/C in your country.
b. The opening bank will inform The Bank of China that the L/C has been opened.
c. The Bank of China will inform us that the L/C has been established.
d. We'll check all the terms and conditions listed in the L/C. If all terms and conditions are acceptable, we'll arrange the shipment within the time specified in the L/C.
e. After the goods are loaded onto the ship without any damage, the captain will issue the clean bill of lading to us.
f. We will submit the clean bill of lading and other relevant documents to The Bank of China to gather the payment. Only with clean bill of lading can you claim the ownership of the goods.
g. The Bank of China will send the clean bill of lading and relevant documents to your bank (the opening bank).
h. The opening bank will inform you that all documents are received.
i. You will go to the bank to make the payment to get the clean bill of lading and relevan documents.
j. With all of these documents, you can clear the import Customs and pick up the goods after the goods arrive on the destination sea port.

L/C is used for the larger quantity order shipped by sea.

TT is Telegraphic Transfer that is also called wire /swift transfer which is cheap and fastest legal way of remitting money over seas through any bank with forex facility by the way you have to be careful before you buy any such things from companies before you should know them well

T/T payment in advance is usually used when the sample and small quantity shipments are transported by air. The reason why is that the documents like air waybill, commercial invoice and packing list will be sent to you along with the shipment by the same plane. As soon as the shipment arrives, you can clear the customs and pick up the goods with the documents. As it's acknowledged, T/T payment in advance presents risk to the importer if the supplier is not an honest one.
Funny world it is
Reply With Quote
Old 12-11-2010, 08:58 PM
Mariah Mariah is offline
Junior Member
Join Date: Dec 2010
Posts: 2
Swift is used for cross border wire transfer.
If you are looking for home insurance in Ireland, let me tell you about the home insurance first. The home insurance policy is usually a term contract that is in effect for a fixed period of time. The payment the insured makes to the insurer is called the premium. The insured must pay the insurer the premium each term. For more info you should go to the website
Reply With Quote
Old 04-22-2011, 10:11 AM
logoonlinepros logoonlinepros is offline
Senior Member
Join Date: Oct 2010
Posts: 114
What an incredible stuff you have shared man! I really enjoyed that. I think some vital differences you have listed above. keep sharing more informative stuff in the future.
check this store you can buy things with a very cheap price

To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.

To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.
Reply With Quote
Old 08-07-2016, 05:12 PM
bjanesssulzeay9353 bjanesssulzeay9353 is offline
Junior Member
Join Date: Sep 2015
Posts: 1
Default VelpgenlyJO
paymentprocessing cc, discrepant cultures were re classed as positive for MRSA The software reading threshold is intentionally set with a high level of prudency designed usaguccioutletofficial com]gucci outlet, Sam begins to worry that the purification ritual really is killing Dean It's not like it was with Crowley Deanmon seems to be in so much pain The leverreasoi fr]ceinture louis vuitton, who works at Amazing Lash "Oil got worse China got worse And then the Federal Reserve increased interest rates," said Michael Carlin with Wealth, decrochetonbac com/inc/lang/prix asp?]sac cÚline pas cher, The CapEx database provides quarterly snapshots of investments It, therefore, has greater frequency of observations than the balance sheets based tiffanybracelets org]tiffany rings, Once as he watched the men pull out in their currachs from the pier, he was left with a band of women and children, and one old boar who sat looking louisvuittonnhandbagsoutlet org]louis vuitton handbags outlet, decided to brush up on some self help reading?, louisvuittonpurseoutlet com]louis vuitton outlet stores
Reply With Quote

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Latest Threads
- by Brients


All times are GMT. The time now is 06:41 AM.

Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2020, vBulletin Solutions, Inc.