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Letter of Credit clause: T/T reimbursement allowed?


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Old 06-14-2008, 01:35 AM
Made In China Made In China is offline
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Default Letter of Credit clause: T/T reimbursement allowed?

Hi,

L.C. is a commercial contract between the Buyer and
the Seller . Every clause is normally agreed on before
the L.C. is drawn by the Buyer's bank . T/T means
Telegraphic Transfer is a lazy and a simple way of getting
paid for the goods before shipping .
Rgds.......................
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Old 06-14-2008, 01:35 AM
mrzhao mrzhao is offline
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Default Letter of Credit clause: T/T reimbursement allowed?

In L/C transactions, very often is the seller demands T/T reimbursement allowed but buyer always not willing, so what exactly is this clause means and why different attitude towards this L/C terms?
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