Payment method and payment milestone are different
A supplier may request bank transfer, platform payment or another agreed method, but you also need to know when each amount becomes due and what must happen first. The safest structure depends on supplier history, product risk, order size and the protection actually provided by the selected payment channel.
Terms you may encounter
- T/T or bank transfer: confirm the beneficiary, bank account and payment milestones in writing.
- Platform payment or escrow-style protection: read the order terms and understand which disputes, products and evidence are covered.
- Letter of credit: a bank-document process that may suit some larger transactions but requires precise professional setup.
- Open-account terms: payment after shipment or delivery, usually dependent on an established commercial relationship and credit decision.
Questions to answer before the deposit
- Does the beneficiary name match the contracting or invoicing company?
- What exactly starts after the deposit is received?
- Which specification and quotation version controls the order?
- Are tooling, samples, packaging and testing included or separate?
- What is the cancellation or refund position for custom work?
- What evidence will be available before the balance is due?
- Will a pre-shipment inspection or product test be completed before final payment?
Treat bank-detail changes as a new verification event
If payment instructions change, do not rely only on the new email or chat message. Pause and verify the request through a previously trusted contact method. Ask for a documented explanation and reconfirm the legal entities involved.
Connect the payment schedule to order controls
- Before deposit: confirm supplier identity, scope, specification, price and schedule.
- During production: maintain written updates and record approved changes.
- Before balance: review the agreed evidence, inspection or testing result where applicable.
- Before shipment: confirm final quantity, packaging, documents and delivery arrangement.
General information only: payment protection and contract enforceability depend on the transaction, jurisdiction, bank or platform terms. Obtain qualified legal, banking or trade advice when the exposure justifies it.