T/T (Telegraphic Transfer) refers to wire transfer, one of the most commonly used international bank remittance methods in foreign trade. The buyer remits funds to the seller's designated account through the bank via telegraph, SWIFT, or other electronic means. T/T is generally divided into advance T/T (prepayment) and deferred T/T (payment after goods arrival), with common combinations such as '30% T/T in advance, 70% against copy of B/L.' Use cases include sample fees, deposits, balance payments, and small transactions. Notes: clarify which party bears bank charges (e.g., OUR/BEN/SHA); monitor exchange rate fluctuations and arrival time (usually 2-5 business days); ensure account information is accurate to avoid fraud. Compared with L/C (Letter of Credit), T/T is simpler and lower in cost but relies on commercial credit and carries higher risk; compared with D/P (Documents against Payment), T/T is more flexible but lacks bank guarantee. Foreign trade practitioners should choose payment methods based on customer creditworthiness and order amount.
📝 Examples
1. The total amount of this order is USD 10,000. Please arrange a 30% T/T deposit first, i.e., USD 3,000, and the remaining 70% will be paid by T/T against copy of B/L. (Note: A typical installment T/T payment term, specifying the conditions for deposit and balance payment.)
2. As the sample value is low, we suggest you pay the sample fee and freight directly by T/T, and we will arrange shipment immediately upon receipt of payment. (Note: Applicable to small sample transactions, emphasizing the convenience of T/T.)
💡 Foreign Trade Tips
Foreign trade terms are the foundation of international business communication
Trade practices may vary slightly by country; pay attention when using them
When using terms in contracts, specify the applicable version (e.g., Incoterms 2020)
For unfamiliar terms, use GlobalSync's multilingual email helper to confirm with your partner