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Payment terms in the tea trade
Payment terms in the tea trade are a short list. Telegraphic transfer with a deposit and the balance against a copy of the bill of lading is the default; a letter of credit at sight is used for new relationships and for markets where banks stand between the parties; documents against payment and open account appear only with established buyers or under export credit insurance. This explainer sets out each term, where the risk sits and where it is used. Terms for a specific order are stated per quotation.
| Term | How it works | Risk sits with | الاستخدام النموذجي |
|---|---|---|---|
| T/T 30/70 | 30% deposit on order, 70% against a copy of the bill of lading | Exporter on the balance | A common structure |
| T/T 50/50 against B/L copy | Higher deposit, balance against the bill of lading copy | Shared | New buyers, smaller lots |
| Letter of credit at sight | Bank pays on presentation of conforming documents | Discrepancies in documents | New relationships; Africa and the Middle East |
| Usance letter of credit (30, 60, 90 days) | Bank pays at maturity | Financing cost | Large established buyers |
| Documents against payment (D/P) | Bank releases documents when the buyer pays | Buyer may not take up documents | Established buyers |
| Documents against acceptance / open account | Goods first, payment later | Exporter, unless insured | Only under export credit insurance |
Guide
What does a common T/T structure look like?
A common structure is a deposit of 30% by telegraphic transfer on confirmation and the remaining 70% against a copy of the bill of lading. The buyer's exposure is the deposit; the exporter's exposure is the balance while the container is at sea, which is why the copy of the bill of lading, not the original, is the trigger. It is an example of how the trade works, not a list of terms this site accepts.
When does a letter of credit make sense?
When the parties have no history, when the destination's banks routinely stand between importer and exporter, or when the buyer needs time to pay. A sight letter of credit turns the bank's promise into the payment; the exporter's risk moves from the buyer's willingness to the documents' conformity, so the document pack has to be prepared to the letter.
Confirmation by a bank in the exporter's country removes the issuing bank's risk as well and is common for West African letters of credit.
What changes for Morocco and Russia?
Morocco applies foreign-exchange control: an importer pays against an import title through its bank, and advance payments are limited, so a letter of credit or payment against the bill of lading copy is usual. For Russia, since 2024 many Chinese banks have returned or delayed payments originating in Russia; the payment channel is confirmed with both banks before production starts, and a higher deposit is the norm.
How does export credit insurance change the terms?
China's export credit insurer covers a share of a commercial or political default on insured buyers, which is what allows an exporter to offer documents against acceptance or open account to a buyer it has not traded with for long. The cover, the limit per buyer and the premium are set by the insurer, not by the exporter.
أسئلة شائعة
What payment terms do Chinese tea exporters accept?
A common structure is T/T with a 30% deposit and 70% against a copy of the bill of lading; a letter of credit at sight is another, often used with new buyers. Terms for a specific order are stated per quotation.
Is a deposit always required?
Under T/T, yes; under a letter of credit the bank's undertaking replaces it; under open account there is none, which is why open account is offered only with credit insurance.
Why is the balance paid against a copy of the bill of lading?
Because the copy proves the goods have shipped while the original still controls their release, so neither party carries the whole risk at once.
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