Negotiating payment terms in business English is an important step in a sale or purchase contract. People who make payment terms when dealing with foreign partners need to use English well to be able to negotiate accurately, in detail, closely, avoiding unnecessary risks.

Viewing: What is the form of payment in English

Mode of payment: payment methodTerms of Payment: payment conditionsTime for Payment: payment deadlinePlace of payment: payment locationDelay payment: late paymentResults of delay: consequences of late paymentRemittance: money transfer methodOpen account : bookkeeping methodLetter of guarantee – L/G: guarantee methodStandby L/C: standby credit methodCollection of payment: payment by collectionDocumentary credits: documentary creditAuthority to purchase – A/P: entrustment letter letter of credit: letter of creditSettlement by sight payment: at sightSettlement by deferred payment: deferred paymentCollecting bank: collection bank

SAMPLE QUESTIONS TO KNOW IN PAYMENT NEGOTIATION

Shall we go on to discuss the terms of payment?

Shall we continue to negotiate payment terms?

Please tell us about your payment terms.

Please let us know your payment terms.

What are your usually terms of payment?

What payment terms do you usually use?

We are prepared to accept payment by D/P at sight.

We accept payment by commercial paper directly.

To avoid having our fund tied up, we can make the payment by L/C after sight.

To avoid lack of funds, we may pay in odd credit upon presentation.

I think we can make payment for this order by documentary collection.

I think we can pay for this order by receipt.

We regret to inform you that your payment is considerably overdue.

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We regret to inform you that your payment has been deemed delinquent

We’ll pay cash in 2 weeks.

We’ll be paying cash in two weeks.

Our terms of payment are by confirmed irrevocable letter of credit or by draft at sight.

Our payment terms are by confirmed irrevocable letter of credit or by draft at sight.

We also pay by L/C for our imports.

We also pay for imports by letter of credit.

Now that we’ve settled on the price, we need to discuss the term of payment.

Now that we have agreed on the price, we need to negotiate the payment terms.

Can we pay by check?

Can we pay by check?

The customary method of payment in international trade is the letter of credit.

Letter of credit is a common payment method in commercial trade.

Payments shall be disbursed based on the attached schedule of values.

Payments will be disbursed based on the attached value distribution table.

We have to pay a higher price.

We have to pay a higher price.

It doesn’t pay to open an L/C for such a small order.

Small order payment does not need to open letter of credit.

We have not received an advice of L/C even today.

Today we still have not received the letter of credit.

Please let us know the L/C number.

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Please let us know the letter of credit number.

Our credit is valid until July 10.

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Our credit is valid until July 10.

The only way to do this business is to effect payment by T/T at the time of loading.

Making payments by telegram at the time of delivery is a good business practice.

We would ask you to amend the L/C immediately to enable us to effect shipment.

We ask you to add a letter of credit immediately to help us make the shipment on board.

Please let us know the L/C number.

Please let us know the letter of credit number.

Our credit is valid until September 15.

Our credit cards are valid until September 15.

I’ll put it in the L/C that goods shall be delivered 30 days upon your receipt of L/C.

You will receive the goods within 30 days upon opening the letter of credit.

That’s the usual practice adopted internationally.

It is an internationally accepted custom.

If you don’t open the L/C on time, you will be responsible for any loss.

If you do not open the letter of credit in time, you will be responsible for the damage caused.

The balance would be payable upon receipt of the goods.

The final settlement will be paid on the goods receipt.

You will get a discount if you pay today.

If you pay today, you will get a discount.

We need you to use an irrevocable letter of credit.

We want you to use an irrevocable letter of credit.

This way we maintain continuous control over our financial risks.

We can continue to control financial risks in this way.

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How will payment be made?

How is the payment made?

What is the date of payment?

Payment when?

You need a checking account so that I can pay my bill.

He needed to open a checking account so he could pay the bills.

How can I pay for the goods?

How can I pay for the goods?

You can pay by credit card.

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You can pay by credit card

In addition to English vocabulary and sentence patterns on international payment negotiations, you can refer to and download more documents on business English at:

Download the full set of business English documents 2017

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