Do you accept TT or LC for excavator export orders?
Yes, ExcaYard accepts both T/T (telegraphic transfer in USD) and L/C (letter of credit) for used excavator export orders. T/T is the most common method, while L/C through Bank of China is available for buyers who prefer bank-backed security. All transactions are handled in USD, and we also accept Wise for smaller payments.
Payment Methods Accepted
We understand that international buyers need flexible and secure payment options. ExcaYard offers the following:
- T/T (Telegraphic Transfer): USD wire transfer directly to our corporate bank account. This is the fastest and most widely used method. Typically, we require a 30% deposit to initiate the order, with the balance paid before shipment or upon receipt of the bill of lading copy.
- L/C (Letter of Credit): We accept irrevocable L/C at sight, issued through Bank of China or a reputable international bank. This method provides additional security for both parties, as payment is guaranteed upon presentation of compliant documents. L/C terms must be confirmed before order finalization.
- Wise: For smaller transactions or sample payments, Wise offers a cost-effective alternative with competitive exchange rates.
All payments are in USD. We do not accept cash or personal checks. For L/C, please note that bank charges may apply, and the terms must be agreed upon in advance.
Why Payment Terms Matter for Used Excavator Orders
Used excavators are high-value assets, and the payment method you choose affects the entire transaction flow. T/T is straightforward and allows for quick processing, which is ideal when you need to secure a machine promptly. L/C, on the other hand, adds a layer of bank oversight, which can be reassuring for first-time buyers or large orders. However, L/C involves more paperwork and longer processing times, so it's important to plan accordingly.
Regardless of the method, ExcaYard ensures transparency. We provide a detailed proforma invoice outlining the machine specifications, price, shipping terms, and payment schedule. This document is your reference for all financial commitments.
Inspection and Documentation: The Backbone of a Secure Transaction
Before any payment is made, we encourage buyers to review our 150-point pre-shipment inspection. This inspection covers all critical aspects of the machine, including:
- Engine performance and hours verification
- Hydraulic system checks
- Undercarriage condition
- Paint thickness checks to detect prior repairs
- Electrical and safety systems
We provide photos and video documentation of the inspection, so you know exactly what you're paying for. This is especially important when using T/T, as it builds trust and reduces risk.
For shipping, we handle all necessary export certifications, including SONCAP for Nigeria, SABER for Saudi Arabia, PVoC for Kenya, Tanzania, and Ghana, GSA for Ghana, and KEBS for Kenya. These certifications are mandatory for customs clearance in many destination countries. We also prepare the commercial invoice, packing list, bill of lading, and certificate of origin.
Shipping Methods and Lead Times
We offer flexible shipping options: FOB or CIF. You can choose RoRo (roll-on/roll-off), container, or flat-rack, depending on the machine size and your budget. Our default ports are Shanghai, Ningbo, Qingdao, and Tianjin. Typical CIF lead time is 28-45 days port-to-port, depending on the destination and vessel schedule.
Here is a quick overview of shipping factors that can affect your total cost and timeline:
| Factor | Description | Indicative Impact |
|---|---|---|
| Shipping Method | RoRo, container, or flat-rack | RoRo typically lower cost for smaller machines; container may be more secure |
| Port of Loading | Shanghai, Ningbo, Qingdao, Tianjin | Varies by vessel availability and destination |
| Destination Port | Africa, Southeast Asia, Middle East, Latin America, CIS | Freight rates vary; typically higher for Latin America |
| Certifications | SONCAP, SABER, PVoC, GSA, KEBS | Required for customs; cost and processing time vary by country |
| Payment Method | T/T or L/C | T/T faster; L/C may add bank fees and processing time |
Step-by-Step Order Process
To give you a clear picture, here is how a typical order proceeds:
- Inquiry: You contact us with your requirements (machine model, destination port, etc.).
- Quotation: We provide a proforma invoice with price, shipping terms, and payment details.
- Payment: You choose T/T or L/C. For T/T, we require a deposit; for L/C, we review terms.
- Inspection: We conduct the 150-point inspection and share photos/video.
- Shipping: We book the vessel, handle certifications, and ship the machine.
- Documentation: We send you the commercial invoice, packing list, bill of lading, and certificate of origin.
- Delivery: You receive the machine at your destination port.
Throughout the process, we keep you informed and are available via WhatsApp or email.
Frequently asked questions
Can I pay the full amount via T/T?
Yes, you can pay the full amount via T/T. However, we typically require a deposit to secure the machine, with the balance before shipment. This protects both parties.
What are the requirements for an L/C?
We accept irrevocable L/C at sight issued through Bank of China or a reputable international bank. The L/C terms must be agreed upon before order confirmation. Please note that bank charges are typically borne by the buyer.
Do you accept payment in currencies other than USD?
No, all transactions are in USD. We accept T/T in USD, L/C in USD, and Wise transfers in USD. This simplifies accounting and avoids exchange rate fluctuations.
Ready to proceed? Contact us on WhatsApp at +86 193 9277 7259 to discuss payment terms and get a quote for your next used excavator. We're here to help you navigate the process smoothly.
