Payment terms/acronyms - What do they mean?

Full Member
margus555
Posts: 10
Joined: 05 Aug 09
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7 Sep 11 04:02:31 pm
Hello, i found on alibaba following supplier payment terms, but i dont know what those mean:

L/C, T/T.




Site Admin
fudjj
Posts: 4429
Joined: 27 Jul 07
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7 Sep 11 09:06:38 pm
I think you'll find this helpful :)

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Now in regards to electronic wires such as Western Union, we STRONGLY advise against using such methods as you have no recall should their be any issue with the transaction, and you run the risk of losing your money!

Credit card is always the safest way to trade anywhere, but especially China. It gives you the option to file a charge-back where the transaction is not as you expected, and that will get your money back safely.

Short of using a credit card, PayPal is also a good option, but credit card is number 1!


Marc Ransom

Community Manager
SaleHoo.com

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Site Admin
richellemonfort
Posts: 5118
Joined: 20 Oct 08
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8 Sep 11 12:02:00 am
Hi margus555,

Marc's right avoid paying via T/T or telegraphic transfer, which simply means wire transfer. It's one of the easiest way to send your money and lose your money online, unfortunately. You see once you wire your money there' s no way of getting it back. Unlike, with payment methods we consider as safe like credit cards and PayPal, mentioned by fudjj - you can always do a chargeback or file a dispute.

We do have a glossary for terms which you may come across as an online entrepreneur, in case you don't quite know the meaning of a word you may refer to Link hidden: Login to view

Hope this helps. All the best! :)


Richelle

Customer Support Manager
SaleHoo Group Limited
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