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A Payment methods: (1) T/T (bank transfer) – 50% upfront, 50% before shipment, (2) L/C (letter of credit) at sight, (3) DP (documents against payment), (4) D/A (documents against acceptance, net 30 – for established customers). Currency: USD, EUR, CNY. Accepted banks: major international banks (SWIFT transfers).
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A Standard schedule for MOQ orders: (1) 50% T/T deposit upon order confirmation, (2) balance 50% before shipment (within 3 days of QC pass). For orders >$50,000: negotiable split (30%-40%-30% or similar). For repeat customers with credit line: up to 50% payable within 30 days of delivery.
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A T/T transfers: Kingmay covers outgoing transfer fees; customer covers incoming fees (typically $10–$50 depending on bank). Currency conversion: at interbank rate (no markup). If customer requests specific currency conversion timing, must be arranged through designated bank to lock rate.
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A Yes, for qualified customers. Requirements: (1) minimum order history ($30,000+ cumulative or 2+ successful orders), (2) credit check and references, (3) signed credit agreement. Credit line: typically $50,000–$200,000 depending on order volume. Payment terms: Net 30–60 days. Credit review annually.
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A Early payment discount: 2% discount if full payment received 10 days before agreed due date. Late payment penalty: 0.5% per month on overdue amount (capped at 12% annually per local laws). Formal invoice issued upon confirmation; payment terms clearly stated in commercial invoice.
