LED Lighting Payment & Trade Terms FAQ — China Import Guide

{“@context”:”https://schema.org”,”@type”:”FAQPage”,”mainEntity”:[{“@type”:”Question”,”name”:”What payment methods do Chinese LED factories accept?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:”Industry standard: T/T (Telegraphic Transfer) with 30% deposit and 70% balance before shipment. L/C (Letter of Credit) available for orders over $20,000. Western Union/PayPal for sample orders under $1,000. Kingseng accepts T/T and L/C.”}},{“@type”:”Question”,”name”:”Is 30/70 T/T normal for first-time buyers?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:”Yes. 30% deposit / 70% balance before shipment is standard for first-time LED importers. After 2-3 successful orders, many factories offer more favorable terms like 30% deposit / 70% against B/L copy.”}},{“@type”:”Question”,”name”:”Do you accept Letters of Credit (L/C)?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:”Yes, for orders over $20,000. We accept L/C at sight and L/C 30/60 days. L/C issuing bank must be a recognized international bank. All L/C terms confirmed before production.”}},{“@type”:”Question”,”name”:”What trade terms (Incoterms) do you offer?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:”FOB Shenzhen (most common), CIF (we arrange shipping and insurance), EXW (you collect from factory), DDP (door-to-door including duties, for select countries). Kingseng recommends FOB Shenzhen for first orders.”}},{“@type”:”Question”,”name”:”How do I protect myself from payment fraud with Chinese suppliers?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:”Verify the factory exists via video call or audit, check business and export licenses, use L/C for first large orders, never pay 100% upfront to unknown suppliers, verify certifications on certifying body website. Kingseng provides all documentation for buyer verification.”}},{“@type”:”Question”,”name”:”What currency and exchange rate policy do you use?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:”All quotes in USD. We use the CFETS mid-rate on proforma invoice date. Rate-lock available for up to 30 days for extended production timelines. Payment accepted in USD, EUR, or RMB.”}},{“@type”:”Question”,”name”:”Are there hidden costs beyond the product price?”,”acceptedAnswer”:{“@type”:”Answer”,”text”:”Standard FOB quote includes product unit price, packaging, and export documentation. Buyer covers sea/air freight, insurance (unless CIF), import duties and taxes, customs brokerage, and destination delivery. Kingseng provides transparent cost breakdown before order confirmation.”}}]}