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what does the peyment term TT mean?


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  #1  
Old 07-12-2008, 05:55 AM
lead lead is offline
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Default what does the peyment term TT mean?

i need to use TT payment term, what does it mean and how do i go about using it?


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Old 07-12-2008, 06:05 AM
help help is offline
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Default what does the peyment term TT mean?

TT stands for telegraphic transfer
it enables the receiptent to receive funds same day. If you TT funds to someone at your bank in the morning they will receive funds that afternoon. normally cost about $30
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Old 07-12-2008, 06:14 AM
France France is offline
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Default what does the peyment term TT mean?

TT means Telegraphic Transfer
You ask your bank to do a TT to pay for goods or services which you had ordered. TT is one of the ways to finance the payments of international trade.
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Old 07-12-2008, 06:24 AM
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Default what does the peyment term TT mean?

TT means "Telegraphic Transfer".
From your bank, request for the Money Transfer form or Wire Transfer form or Telegraphic Transfer form (whatever they call it).

Fill up the details like your Beneficiary's Account Number, Designated Bank, Location, Address and other important bank information (i.e Swift Code, Bank Code or IBAN if applicable)

put in the amount and ask for the foreign exchange rate (if international transfer) then endorse it to the bank teller.
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Old 11-05-2010, 03:20 AM
adammironski adammironski is offline
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T / T is only a means of payment, but not for payment, so that when we speak of the payment period with clients, pls note you have to say: T / T + deadline as T / T in advance, T / T before shipment, T / T within 15 days after shipping, etc. If only T / T, you can wait long for payments.
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