Our payment term

Download the full payment term with PDF file from HERE
1.Acceptable Transaction Currency
 •USD (UnitedStates Dollar)
 •EUR (EUROPEAN Dollar)
 •GBP (Great Britain Pound)



2.All payments must be paid to our export company account
except the sample charge or B2C business payment.

3.Mode of payment

Transaction Total Amount Payment term
US$50 - US$399 100% prepaid via Western Union OR T.T.P
US$400 - US$5,000 100% prepaid by telegraphic transfer(T.T).
US$5,001 - US$10,000 60% of total amount prepaid.
balance(40%) paid after delivery with fax or mail copy of bill of leading.
Payment by telegraphic transfer(T.T) only.

 

US$10001- US$79,999

 

30% of total amount prepaid.Payment by telegraphic transfer(T.T) only.
balance(70%) paid after delivery with fax or mail copy of bill of leading.

 

US$80,000 and more 30% of total amount prepaid by telegraphic transfer(T.T)
balance(70%) by letter of credit(L/C)

NOTE:
When the payment with letter of credit(L/C),
The buyer must accept below 
conditions absolutely
If the buyer can not accept 
one or more of below conditions, L/C payment to be refused.

a. 30% of total amount prepaid by telegraphic transfer(T.T).
     balance(70%) paid with letter of credit(L/C).
b. Price term must base CNF/CIF/C&F
c. Deferred Payment L/C just accept the latest payment time within 60days
d. Form of L/C: Irrvocable 
e. The issuing bank or confirming bank must be one of below bank(other banks are not acceptable)
    Hong Kong and Shang Hai Banking Corporation
    National City Bank of New York
    Bank of China
    Industrial and Commercial Bank of China
    National Commercial Bank of Saudi Arabia

f.  L/C applicant rules according to the Uniform Customs and Practice for Documentary Credits (UCP 500)
g.  The exemplar of the L/C must confirm with us, before the official opening of letters of credit.
h.  
Please apply the L/C base the exemplar : http://www.chnpack.com/download/LC-example.pdf
I.   Whenever, D/P,D/A not acceptable.

4. bank charges
The bank charges which cost outside of China mainland, must paid by buyer.
Due to the shortage transaction amount which may deduct from the oversea bank charge.
We(Tongcheng Tianbai Plastic Co.,Ltd) have the right to delayed the delivery, till the buyer make up the shortage amount .

The bank charges which cost in China mainland,paid by Tongcheng Tianbai Plastic Co.,Ltd


5. All the order will carry out,after we received the deposit.
   So the delivery time must from the date which we got
   the definite notice of payment arrives from our account bank
   The account bank of us are industrial and Commercial Bank of China or Bank of China
   We have authority to extend the delivery time,if we got the deposit delay.

6.We have authority to cancel the order if we did not got any responsion or the buyer
   default of payment of the balance after 5 working days we have been sent the buyer the scan copy of bill of leading.

7. Request our bank account details,please contact Hellen via accountant@chnpack.com

8. Refundment or commission, will just return via Western Union.

This police was update on 18th-MAY-2011 by Tongchang Tianbai plastic Co.,Ltd
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