What is T / T? Simple rules of small imports

An inexperienced person is so easily confused and deceived in the world of modern international Internet commerce that it would not be superfluous to learn about the conditions under which leading Chinese suppliers operate. We'll talk about them in this article.

Do you often buy on the Internet?

The modern world is so bustling that sometimes we do not have the time or the desire to go to supermarkets in search of gifts to relatives or some pleasant surprises for ourselves. And progress does not stand still, and a large part of the advanced population has long been accustomed to acquire both household goods and clothing in stores offering their services via the Internet.

What can we say about Chinese websites - their huge number, and each is full of its tempting prices and a good choice. Of course, the eyes run up, and not everyone first thinks about the terms of payment and delivery of such a desirable product, but when it comes to that, and we pay attention to how to pay for the chosen pleasant trifles, many at this stage The question "what is T / T".

A more sophisticated consumer may be familiar with the international supply rules set forth in the Incoterms 2000 code, but what about those who have little experience with direct imports in their lives?

What is T / T?

So, the Chinese manufacturer offers to pay to us the chosen goods by means of the conditions stated in two treasured letters, having overcome misunderstanding of which, after a certain time you receive cherished interior subjects on hands. What is T / T in the literal sense? Telegraphic transfer - telegraphic transfer or telex transmission, although these words are unlikely to say something to an inexperienced Internet consumer.

To put it simply, this kind of calculation means prepayment by using the international banking system. From you nothing special to know is required, except for the SWIFT code of the Chinese correspondent bank and the full details of the account to be replenished. With this data, you apply to a financial institution on the territory of your country and fill out a questionnaire. Well, after your money is sent to an international trip, which also involves a third, the so-called interim institution, taking funds from your country and transferring them to the recipient.

Nuances of the system

Currently Payment Terms T / T are very common and, according to the set of rules for international supplies of Incoterms 2000, are often used in the following accordance: 30% of the transaction amount is paid in advance and transferred to the supplier's account before shipment, well the remaining 70% are reimbursed Already at the final stage of the purchase, in other words - when the cherished goods will be already in your hands.

However, do not forget about the amazing features of modern market relations, when the scammers divorced more than enough. That is why Chinese sellers prefer to work on a prepayment of 100%, where only the consumer risks to be deceived.

What are your risks?

What is T / T? This is a convenient system of mutual settlements with business partners, but at the same time a complete unforeseen surprises situation where you run the risk of staying both without money and without goods. Well, or the product will still fall into your hands, but only the thing will be not at all the quality that was indicated in the supplier's catalog.

Especially the situation should be alarming if the Chinese seller does not provide samples of the goods in your country in the company of the distributor or partner. It's one thing if you buy cheap clothes, and quite another, when it comes to jewelry. In this case, one can only guess whether this or that factory produced similar products earlier.

In general, the quality issue should be considered in more detail. You should understand that the copy seen on the site is single and was created only for public display, and when you order the goods in bulk quantities, the conscientiousness of its performance may leave much to be desired. But what can you do if payment through tt has already been made, and even in advance at a rate of 100% of the cost?

And the last thing that should also be paid more attention is the packaging of the ordered products. Often in Chinese manufacturers, this aspect is lame, and more fragile goods run the risk of coming to you already damaged.

How to protect yourself

You should understand that payment tt means putting all possible risks on the buyer, so if you are dissatisfied, you will not be able to prove anything, unless you decide not to work with a certain manufacturer for yourself.

If possible, negotiate with the supplier about the prepayment amount of 30%, especially if it is a large transaction, and you communicate with the manufacturer for the first time. An important role here can also be played by online negotiations, since the openness of the potential partner to dialogue is the first way to mutual trust.

Well, when filling out the declaration for sending a payment to T / T, pay attention to which person is indicated in the requisites, and whether the company's name coincides with the company name of the supplier with whom you agreed to work. After all, you will agree, it will be strange if the goods are supplied by one person, and the money comes to the account of another.