- In international trade, selecting the appropriate delivery term and payment method is essential to protect the interests of both buyers and sellers while minimizing risks.
🔹 1. Telegraphic Transfer (T/T)
T/T is a fast and convenient payment method made through the banking system.
The buyer transfers funds directly to the seller’s account as agreed in the sales contract.Common T/T methods include:
- Advance T/T: The buyer pays all or part of the order value before shipment.
- Post-shipment T/T: Payment is made after shipment or upon presentation of shipping documents.
- Partial T/T: Payment is made in stages or according to delivery milestones.
🔹 2. Letter of Credit (L/C)
L/C is a secure payment method guaranteed by a bank.
The buyer’s bank (issuing bank) commits to pay the seller upon presentation of a complete and compliant set of documents specified in the Letter of Credit.
Basic process:
- The buyer opens a Letter of Credit with their bank.
- The seller ships the goods and prepares the required documents.
- The bank verifies the documents and releases payment to the seller.
Depending on the order value, target market, and level of partnership, we provide flexible and secure payment options tailored to each customer’s needs.
At VIKO BIOFUEL, our team is always ready to advise, assist, and ensure every transaction is handled with transparency, efficiency, and punctuality.
