TT payment is called telegraphic transfer or
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.
LC = Payment thru Letter of Credit DA = Payment against acceptance DP = Payment against receipt of document TT = Telegraphic transfer
A TT payment stands for telegraphic transfer or wire/swift transfer which is the cheapest and fastest. It is a legal way of remitting money overseas through any bank with Forex facility. T/T is just a payment method, but not payment term, so when you discuss the payment term with customers, you must say "T/T+date limit", such as "T/T in advance", "T/T before shipment", "T/T within 15days after shipment", etc. If only "T/T", you might wait a long time for the payments.
To the bank
Be honest, TT is not safe.. and the most efficient way is that you find a reliable Buy Agency in that country... then it's done! Good luck.
The best payment term depends on your business relationship and cash flow needs. TT (Telegraphic Transfer) 60 days may provide quicker access to funds for suppliers but requires upfront payment. OA (Open Account) 60 days allows for payment after goods are received, which can be advantageous for cash flow but carries more risk for suppliers. A 60-day LC (Letter of Credit) offers security for both parties, ensuring payment upon meeting agreed terms, making it a balanced option if both parties are comfortable with it.
"TT prior to shipment" refers to a payment term where the buyer is required to make a telegraphic transfer (TT) of funds to the seller before the shipment of goods occurs. This means that the seller expects to receive full payment in advance, ensuring that they have been compensated before the products are dispatched. This term is commonly used in international trade to mitigate the risk of non-payment.
Telegraphic Transfer.
wht is DP payment...if any company issue DP payment to me is safe or not it is like Tt payment? how the diferrent Tt payment & DP payment? Hope your can rely it
LC = Payment thru Letter of Credit DA = Payment against acceptance DP = Payment against receipt of document TT = Telegraphic transfer
No, the TT 30/ TT 33 is made by the Russians at around WW2
Payment term TT stands for Telegraphic Transfer, which is a method of payment where funds are transferred electronically from one bank account to another. TT payments are commonly used in international trade transactions as a secure and quick way to exchange funds.
A TT payment stands for telegraphic transfer or wire/swift transfer which is the cheapest and fastest. It is a legal way of remitting money overseas through any bank with Forex facility. T/T is just a payment method, but not payment term, so when you discuss the payment term with customers, you must say "T/T+date limit", such as "T/T in advance", "T/T before shipment", "T/T within 15days after shipment", etc. If only "T/T", you might wait a long time for the payments.
Telegraphic transfer (TT), as one of the payment method of cash in advance, is a method of transferring funds by telecommunication system such ass telex or cable. The advantage of TT is the fast speed. A payment can be made within two of three banking days. The disadvantage is the relatively high cost. However, sometimes you need a SWIFT No. in your TT transaction. SWIFT ( Society for Worldwide Interbank Financial Telecommunication ) members are able to transfer funds within their own telecommunication network at a much lower cost. This make TT very popular as most international banks are SWIFT members.
To the bank
Be honest, TT is not safe.. and the most efficient way is that you find a reliable Buy Agency in that country... then it's done! Good luck.
"tt" is not a word, and the rest is spelled wrong, but it means: "and tt where are you from my love"
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