Payment Transfer

Order Payment Transfer is a commonly used payment term in foreign trade practice, referring to the act whereby the buyer, in accordance with the order agreement, transfers the payment from the buyer's account to the seller's designated account through bank telegraphic transfer (T/T), letter of credit (L/C), or other payment methods. Use scenarios include advance payment, balance payment, deposit payment, etc., and it is usually closely related to the payment terms in the contract. Notes: It is necessary to clarify the transfer amount, currency, fee bearer (such as OUR/BEN/SHA), arrival time, and accuracy of bank information; after the transfer, the bank slip (SWIFT MT103) should be kept as evidence. The difference from 'Documents against Payment (D/P)' is that D/P is the bank releasing documents after collecting payment, while Payment Transfer is a fund transfer actively initiated by the buyer; compared with 'Collection', Payment Transfer emphasizes the act of fund transfer itself rather than the bank collection process. Foreign trade practitioners should ensure that the transfer remarks indicate the order number or invoice number for reconciliation purposes.