Payment Terms

This specification aims to clarify the payment rules between our company (hereinafter referred to as "our party") and foreign trade enterprise customers (hereinafter referred to as "customers"). Our foreign trade TOB business only accepts Telegraphic Transfer (TT for short) as the sole payment method. Both parties shall strictly abide by the agreements of this policy to ensure the smooth completion of transactions and protect the legitimate rights and interests of both parties.

Payment Method Description

1. All foreign trade TOB product sales, service cooperation and related transactions of our party only accept TT (Telegraphic Transfer) as the payment method. Letters of Credit (L/C), Documents against Payment (D/P), Documents against Acceptance (D/A), Open Account (OA), cash, checks and any other non-TT transfer payment methods are not accepted. We kindly ask customers to be informed and cooperate.

2. Definition of TT Transfer: It refers to the way that the customer directly wires the agreed amount to our designated bank account through its opening bank. It is a "point-to-point" cross-border payment method, which is characterized by convenient operation, fast arrival speed and high security. It is one of the most commonly used payment methods in the foreign trade industry, which can effectively ensure the capital security and transaction efficiency of both parties.

Payment Amount and Currency

1. Payment Amount: The customer shall pay the full amount as agreed in the formal foreign trade contract (or order) signed by both parties, and shall not deduct any fees without authorization (unless otherwise agreed in writing by both parties). If the payment amount is inconsistent with the contract agreement, we have the right to suspend delivery and services until the full amount is received.

2. Payment Currency: US Dollar (USD) is the default settlement currency; if the customer needs to use other freely convertible international currencies (such as Euro EUR, British Pound GBP, etc.), it shall confirm in writing with us in advance, and both parties shall implement it after clearly agreeing on the currency type and exchange rate calculation method. The risk of exchange rate fluctuation shall be borne by the customer, unless otherwise agreed in writing by both parties.

Payment Deadline

According to the cooperation mode and contract agreement between both parties, the payment deadline is divided into the following 3 types. The customer shall complete the TT transfer within the corresponding deadline, otherwise it will be handled in accordance with the agreement in Article 5 of this policy:

1. 100% Prepayment: The customer shall wire the full amount of the contract to our designated account via TT within 3 working days after signing the contract. After we receive the full amount, we will start the process of stock preparation, production or service. This method is applicable to small orders, sample orders and the first cooperation with new customers, which can maximize the security of our funds.

2. Partial Prepayment + Balance Payment: The customer shall pay 30%-50% of the total contract amount as prepayment (the specific ratio is subject to the contract agreement) within 3 working days after signing the contract. After we receive the prepayment, we will start stock preparation, production or service; the balance shall be wired to our designated account via TT within 15 working days after we provide the copy of commercial invoice and packing list. After we receive the balance, we will arrange delivery or complete service delivery. This method is the most commonly used mode for foreign trade TOB business, balancing the interests of both parties.

3. Balance Payment After Delivery: Only applicable to long-term cooperative and reputable old customers, which shall be agreed in writing by both parties in advance. The customer shall wire the full amount to our designated account via TT within the period agreed in the contract (no more than 7 working days at most) after we complete the goods delivery or service delivery. This method has high risk, and we have the right to adjust or cancel this payment method according to the customer's credit status.

Bank Account Information

Account Information (English):

Bank Name: __________

Bank Address: __________

Beneficiary Name: __________

Account Number: __________

SWIFT Code: __________

Taxpayer Identification Number: __________

Note: When making TT transfer, the customer shall indicate "Contract No. + Customer Name" in the remittance message to facilitate us to quickly verify the receipt information and avoid delay in receipt due to missing information.

Supplementary Provisions on Payment

1. Bank Charges: All remitting bank charges and intermediary bank charges arising from cross-border TT transfers shall be borne by the customer, and we only bear the charges incurred by our receiving bank. If the customer chooses "charges borne by the payee", the actual amount received by us shall deduct all charges and meet the full payment requirement agreed in the contract, otherwise it shall be deemed that the payment is not completed.

2. Receipt Confirmation: We confirm the payment based on the actual bank receipt time. Within 1-2 working days after receipt, we will send a payment receipt confirmation notice to the customer (bank receipt voucher can be provided). If the customer has completed the transfer but we have not received the payment within the agreed time, the customer shall timely provide relevant vouchers such as remittance slip to cooperate with us in verifying the fund flow.

3. Overdue Payment: If the customer fails to complete the TT transfer within the time limit agreed in this policy and the contract, it shall be deemed as overdue payment. On the 1st to 3rd working days of overdue, we will send an overdue reminder to the customer; if the overdue exceeds 3 working days, the customer shall pay a liquidated damages of 0.5‰ of the overdue amount to us every day (the accumulated liquidated damages shall not exceed 5% of the overdue amount); if the overdue exceeds 7 working days, we have the right to unilaterally terminate the contract, confiscate the received prepayment (if any), and pursue the customer's liability for breach of contract. All losses arising therefrom (including but not limited to goods loss, warehousing fees, attorney fees, etc.) shall be borne by the customer.

4. Refund Description: If the contract cannot be performed due to our reasons and the customer's paid amount needs to be refunded, we will wire the amount back to the customer's payment account via TT within 3 working days after confirming the refund, and the bank charges arising from the refund shall be borne by us; if the contract is terminated due to the customer's reasons and the prepayment needs to be refunded, we will return the remaining amount via TT after deducting the corresponding liquidated damages and actual losses, and the bank charges arising from the refund shall be borne by the customer.

5. Document Requirements: After receiving the full payment from the customer, we will timely provide a full set of compliant documents such as commercial invoice, packing list, bill of lading (or other shipping documents) in accordance with the contract agreement and foreign trade practices to ensure that the customer can clear customs and take delivery smoothly.

1. This payment policy shall take effect on the date of issuance, apply to all foreign trade TOB businesses and related customers of our party, and replace all previous relevant payment regulations issued by us.

2. We have the right to modify and supplement this policy in accordance with national foreign exchange policies, bank regulations and our own business development needs. The modified policy will be notified to customers through our official email, website or written notice, and the modified policy shall take effect on the date of delivery to customers.

Policy Effectiveness and Modification

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