No major breakthroughs in Internet-based trade finance solutions yet (i.e. online LC's, etc.). So, the terms of payment are again traditional. In some cases, we will ask that the buyer and supplier settle the financial transaction between themselves. However, if there is a need we may intermediate the process.
This will be determined on a case-by-case basis. As LC's can be dangerous, cumbersome and a huge administrative burden, we suggest 50% of the payment by TT (Telegraphic Transfer) at the time the order is placed and the balance of 50% when the goods are ready to ship.
LC's should only be considered in higher value transactions (i.e. > US$20,000). There are other financing alternatives available, please inquire if these methods do not meet your needs or if you would like additional information.