What does T/T (Telegraphic Transfer) mean?
Bank wire transfer, the most common payment method in China trade. Typically structured as 30% deposit before production and 70% balance against the copy of the bill of lading. T/T is fast but has no protection if the supplier defaults.
Example: Supplier terms: 30% T/T deposit, 70% against B/L copy — you wire the deposit to start production.