T/t in advance的意思

"T/T in advance" is a term commonly used in international trade and business, particularly in the context of making payments. It stands for "Telegraphic Transfer in advance."

Here's what it means:

• "Telegraphic Transfer" (T/T) refers to a method of transferring money from one bank account to another using SWIFT, the Society for Worldwide Interbank Financial Telecommunication network. This is a common method for making international payments.

• "In advance" means that the payment is made before the goods are shipped or the services are provided. In other words, the buyer pays first, and then the seller delivers the goods or provides the services.

So, "T/T in advance" means that the buyer will make a payment via telegraphic transfer before the seller sends the goods or provides the services. This payment term is often used when the buyer wants to ensure that the seller will fulfill their contractual obligations, especially in transactions where the buyer and seller are unfamiliar with each other or in transactions involving international trade.

It's important to note that "T/T in advance" is a term that favors the seller, as they receive payment before they have to deliver anything. However, it can be risky for the buyer, as there is no guarantee that the seller will deliver the goods or provide the services once they receive the payment. For this reason, it's often used in combination with other terms or methods to mitigate risk, such as insurance, letters of credit, or escrow services.