For orders >$300k, most Chinese Tier-1 suppliers prefer LC at sight from a China-friendly correspondent bank. LC removes prepayment risk but costs 0.8-1.5% of order value and adds 5-10 days to the timeline.
LC cost (buyer)
0.8–1.5%
order value
LC cost (seller)
0.35%
confirmed
Standard tenor
at sight
or 30/60 usance
Bank shortlist
China-friendly banks with fastest LC processing: HSBC, Standard Chartered, DBS, ICBC (any branch), Bank of China (any branch), Emirates NBD. Avoid US regional banks — 2-3 week delays common.
Frequently asked questions
QLC vs TT 30/70?
TT is cheaper (~$40 wire fees) but forfeits recourse if goods fail QC. LC costs ~1% but gives you QC-linked release.
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