Inward T/T

Inward T/T (Telegraphic Transfer) refers to the buyer remitting funds to the seller's designated account via bank wire transfer. It is one of the most common payment methods in foreign trade for advance payment or balance payment. Usage scenarios include: the buyer pays a deposit after contract signing, pays the balance before shipment, or settles payment after open account sales. Precautions: The seller must provide accurate bank information (SWIFT code, account number, beneficiary name) and note that the remitting bank may deduct handling fees, resulting in the actual received amount being less than expected; also pay attention to exchange rate fluctuations and anti-money laundering reviews. It is the opposite of 'Outward T/T'—the former is from the payee's perspective, the latter from the payer's perspective. Compared with a Letter of Credit (L/C), Inward T/T is more flexible, lower in cost, and faster, but lacks bank credit guarantee and relies on mutual trust between buyer and seller. Compared with documentary collection (D/P, D/A), Inward T/T usually requires the buyer to pay first, making it safer for the seller. In practice, after receiving an Inward T/T, the seller should verify the bank slip and confirm the funds have arrived before arranging shipment or releasing documents.