What does it mean to receive foreign exchange in L C and T T?

l C is the abbreviation of Letter of Credit, which means: letter of credit.

D A is the abbreviated version of documentary against acceptance, and the meaning of the right is: Submission of Acceptance.

D P is the abbreviation of Document Against Payment, which means: document against payment.

T t is the abbreviation of Telegraphic Transfer, which means: wire transfer.

The differences between them are as follows:

The most used in foreign trade are l c and t t, of which l c is bank credit, which is relatively safe, but the process of issuance, verification, document submission, negotiation and other processes is more cumbersome, and there are certain costs.

t t is divided into pre-t t t and post-t t t, both of which are commercial credit. The process is simple and there are no other costs.

d a is commercial credit, which is particularly risky.

D P is also commercial credit, which is relatively risky.

l c l/c, d a documentary collection, d p doc against payment, t t t, generally unfamiliar customers do l/c.

Frequent customers are DocAgainst Against Payment.

Payment is generally made by wire transfer.

d a Documentary collection is particularly dangerous, it is easy to release the goods, and the money cannot be recovered, so do not use it.

l c is a letter of credit, which is a written guarantee that the issuing bank will issue a certain amount of money to the beneficiary (exporter) according to the requirements and applications of the applicant (importer) and pay at the designated place within a certain period of time with the bill of exchange and export documents.

d a is the document against acceptance, the bill of acceptance indicates that the port side issues a usance bill after the shipment of goods, together with the shipping documents entrusted to the bank for collection, and clearly instructs the bank, the importer can receive a full set of freight documents after acceptance on the bill of exchange, and then pay off the bill of exchange on the due date.

d p is a document against payment, when the exporter entrusts the bank to collect the payment, the bank instructs the bank to hand over the shipping documents to the payer (importer) only when the payment is paid in full, that is, the delivery of the document is conditional on payment.

T is a telegraphic transfer, which is a remittance settlement method in which the remitter sends a charged telegram or telex (tested cable telex) or sends foreign exchange to the bank through SWIFT at the request of the remitter, and instructs it to release a certain amount to the payee.

Letters of credit are generally used for foreign trade. The risk is smaller.

L/C, Documentary Collection, Doc Against Pay, T/T.

Different payment methods generally use t t.

Letter of Credit, Payment Inclusion, Bank Payment Guarantee, Telegraphic Transfer. l c, t t are often used in foreign trade

t t stands for Telegraphic Transfer.

Telegraphic transfer is a settlement method in which the remitter instructs the remitter to pay a certain amount of money to the remitter at the request of the remitter by telegram or telex or through SWIFT.

t t, although there is a certain risk, but the cost is low, and it is now very popular in the world's foreign trade payment methods. There are several ways to do this.

This way is rare, if your guest gives you 100% t when they place an order, then you are in luck. This guest should be a regular customer or a relatively small amount of money will do so.

After t t, this has a certain risk, unless it is an old guest, otherwise we are too passive, at any time there may be no money and goods, pay not to pay all depends on the credit of the guest.

The first t t (as a deposit), 70% after t t, see bill of lading principal payment, this is the most common.

l c letters of credit.

The letter of credit is simply such a thing: the terms and conditions of the transaction are listed, and the bank is in the middle as a guarantee, and after the seller gets the letter of credit, as long as the goods are delivered according to the requirements of the letter of credit and all the documents specified in the letter of credit are prepared and handed over to the bank, they can get the payment safely and smoothly.

t t is a wire transfer, direct payment through the bank, the advantage is that it is convenient and fast. Generally, 30% of the deposit will be returned to T t, and the balance can also be used T t, which has certain risks. If the balance is settled before the shipment, there is no risk.

l c is the letter of credit, to submit a variety of information documents to the bank, the bank will strictly review the information, if fully compliant, basically no risk, even if the customer does not pay, the bank will pay you first, this is the advantage. The downside is that it's more cumbersome.

t t is a bank wire transfer, and the direct payment will be sent to your bank account. l C full name is letter of credit, letter of credit, a kind of payment method for secured transactions, the risk is relatively large.

To put it simply, t t belongs to business credit, while l c belongs to bank credit. The specific payment method to be used depends on the specific transaction and customer credit. Of course, the cost and procedures are lower and simpler than those of T C.

There's a big difference between TT and LC.

The risk of TT is very high, and the risk of LC is little or no risk.

l c is a letter of credit, which is a common use of a transaction method in the world, its risk is low, by the bank as an intermediary, is a kind of bank credit, but the transaction parties to the bank pay a very high fee, now in the transaction also has the problem of letter of credit fraud, so the use should also be cautious. t t is a wire transfer, which is riskier than a letter of credit in a transaction, but the fee paid to the bank is much lower than that paid by a letter of credit. D P and D A both belong to collection, D P is a usance document against payment, that is to say, the buyer must pay the seller before being able to obtain the documents for the delivery of the goods, this transaction method enables the seller to receive the payment in a timely manner, D A is a document against acceptance, that is to say, as long as the buyer makes a certain payment commitment to the seller when receiving the payment notice, the relevant documents for the collection of the goods can be obtained, so D A has a certain risk.

FOB includes cabin (FOB Stowed) In order to make the chemical loaded on the ship properly placed and reasonably distributed, after the goods are loaded on the ship, need to be separated and sorted, this operation is called cabin management, who bears the handling fee, the ports of various countries have different regulations and interpretations, in order to clarify the responsibility and avoid disputes, when the buyer and seller negotiate the contract, they should make clear provisions on who bears the handling fee, if the buyer is unwilling to bear the loading freight and handling fee, then the transaction can be made according to the FOB Stowed conditions, According to this condition, the seller should not only bear the loading fee, but also pile up the goods loaded onto the ship and carry out the cushioning and arrangement, that is, it must also bear the handling fee, if the word "stowed" is not added after the FOB, and the charterparty stipulates that the ship does not bear the loading fee, the handling fee shall be borne by the buyer. FOB includes flat cabin (FOB trimmed) After the cargo is loaded on the ship, in order to maintain the pressure balance of the ship and the safety of navigation, the bulk cargo loaded into the hold in piles, such as coal, grain, etc., needs to be transferred and leveled. This operation is called a flat cabin.

According to the general practice, if the word "trimmed" is not added after the FOB, the seller does not bear the flat costs, and whether the flat costs are borne by the buyer or the ship depends on the provisions of the charterer's contract, and when the charterparty stipulates that the ship does not bear the loading costs, the flat fee shall be paid. FOB Stowed and Trimmed When the cargo loaded onto the ship, i.e. the catechism, is to be leveled, it is clear who bears these two costs, and if the words "stowed and trimmed" are added after the FOB, the seller must not only bear the cost of loading but also the cost of handling and trimming, and according to general practice, if the words "settling" and "flat" are not added after FOB, the cost of handling and flattening the cabin, the seller does not bear the burden.

Terminology in foreign trade. I don't know much about what they mean, but I hope that there are students or teachers who have studied in foreign trade schools to help analyze what they mean.

First of all, the meaning of LC and TT They are the conditions for paying foreign exchange, LC is the letter of credit, the bank examines the document, the risk is low, and it is suitable for the first cooperation, the strict punctuation marks cannot be wrong, TT is the wire transfer is simple, the bill of lading can be changed without bank restrictions, but the risk is large.

Payment Method: T/T.

t t is for Telegraphic

transfer, T t), the business is divided into the first t t (prepayment) and the last t t (payment after loading or receipt).

It is riskier than a letter of credit in a transaction, but the fee paid to the bank is much lower than the fee paid by a letter of credit.

d p is the document against payment, we prepare our negotiation documents after delivery, and submit the documents to the customer's bank through our bank, the customer's bank reminds the customer that the documents have arrived, and the customer pays the bill after the bank submits the documents.

D a is the acceptance of the documents, but also through our bank to the customer's bank, the difference is that the customer only needs to accept our documents, you can take away the original documents, and then pay after the expiration.

T t is a wire transfer (the documents are generally mailed directly to the customer by our side, no need to go through the bank), if we use the T T payment method with the customer, the general practice is that the customer first gives us 30% of the advance payment, and the remaining 70% of the general insurance method is, after the goods are loaded, the customer pays with the original bill of lading faxed by us, and then mails the whole set of original documents to the guest after the payment arrives.

l c letter of credit payment method belongs to bank credit, very safe payment method, but the issuing bank credit must be good, the document personnel should be careful and careful in reviewing the documents, the company's business, storage and transportation, document departments to be coordinated, to avoid inconsistencies in the documents.

t t is a wire transfer.

l c is a letter of credit.

d p is a document against payment.

are the most commonly used international payment methods.

**Telegraphic transfer is when the sender deposits a certain amount of money with the remitting bank.

A remittance method in which the remitting bank instructs the remitting bank to pay a certain amount of money to the beneficiary by telegram or telex to the branch or ** bank of the destination (remitting bank).

l c refers to the letter of credit (letter of credit), which refers to the written guarantee document issued by the issuing bank to a third party at the request of the applicant and according to its instructions, containing a certain amount of money and paying with the documents that meet the requirements within a certain period of time.

t t is a wire transfer.

l c is a letter of credit.

d p is a document against payment.

are the most commonly used international payment methods.

Upstairs is the right solution. There is also d a document against acceptance, which is a common payment method in the world, and I am a professional in international economics and the world.

1T T (Telegraphic Transfer) is Telegraphic Transfer, L C (Letter of Credit) is Letter of Credit, these are two different international settlement methods.

2. Use T to pay quickly.

It is more disadvantageous to the importer, this method is based on the commercial credit of both parties, and the use of l c is based on bank credit, which is relatively safer but the procedures are relatively complicated.

The process of 3t t:

After the parties to the transaction have established a contract.

1) The remitter (generally the importer) submits a T application to the local remitting bank, and pays the payment 2) The remitter sends a receipt of telegraphic transfer to the remitter.

3) The remitting bank pressurizes the telegram or telex to the local remitting bank of the beneficiary (exporter) 4) The remitting bank sends a telegraphic transfer notice to the beneficiary.

5) The beneficiary provides the beneficiary receipt to the remitting bank.

6) The remitting bank pays the beneficiary.

7) The process for the remitting bank to provide the remitting bank with the payment debit advice L C after payment:

1) The two parties to the transaction reach a contract.

2) The importer applies to the bank to open a l c

3) The issuing bank gives to the exporter bank to open l c

4) The advising bank notifies the exporter that L C has arrived, and the exporter picks up L C at the advising bank 5) The exporter ships and transports it within the specified time limit according to L C.

6) The exporter prepares the documents required on l c and submits the documents within the specified time, 7) the exporter's bank advances the payment to the exporter.

8) The exporter's bank will then send the required bills of exchange to the importer's bank, and 9) The importer's bank will reimburse the exporter's bank.

10) The importer's bank asks the importer to pay.

11) The importer redeems the bill from the bank after payment.

12) After the importer obtains the documents, he will use the documents to pick up the goods from the shipping company.

ps: If you are the exporter, the importer agrees to t t, it is recommended to use, but generally take a certain percentage of t t; If you use L C, you need to prepare all the documents according to L C, you need to be very careful, you can't make mistakes, if you make a little mistake, it is easy to be rejected.