Direct answer: A payment-terms and settlement page cannot stop at "T/T accepted, payment before shipment." It should state payment milestones (deposit, progress, pre-shipment, post-acceptance, retention), percentages or the basis for calculating them, credit terms and limits, currency and exchange-rate basis, invoice type and timing, whether acceptance bills or other non-cash instruments are accepted, overdue interest and suspension conditions, and how all of this relates to the quotation, contract, and order. Otherwise, after signing, the customer discovers that "30% deposit" is unclear on tax-inclusive vs. tax-exclusive, when the acceptance payment starts, and who bears the discount cost on a bill.
This guide is for sales, finance, legal, procurement, export, IT, and website vendors at manufacturers in Changzhou and nearby industrial areas. It explains how to build and accept a website page for payment terms and settlement. Information is current to 2026-10-31. It is a review of public rules and project practice, not legal, tax, bill, foreign-exchange, or credit-management advice; specific terms, credit periods, instruments, invoices, and overdue handling depend on the applicable law, contract/order, finance and credit policies, and professional advice.
The price page answers "how much," the payment-terms page answers "when, how much, how, what invoice, and what happens if late"; every milestone must attach to a verifiable delivery event (order, drawing approval, shipment, acceptance), not just "paid before shipment"; every percentage, credit period, and discount cost needs a stated calculation base, start date, and evidence.
How does the payment-terms page relate to the price page, contract, and export documents?
The price page sets the price basis; the payment-terms page sets settlement rules; the contract/order creates legal obligations; the export-documents page covers documents and letter-of-credit rules. All four must align: the percentages, credit terms, currency, and invoices published on the website must match clauses in the contract and actual receipts.
Payment information at manufacturers usually lives in quotations, sales email, contract templates, finance policies, and the ERP, while the website says only "price on request" or "payment before shipment." What buyers most want to confirm at the inquiry stage is exactly this: is a deposit required, how much, is the balance due before shipment or after acceptance, is credit available, are acceptance bills accepted, what invoice is issued, is tax included, and what happens if payment is late. A clear page reduces back-and-forth and post-signing disputes; but it is a public explanation, not a substitute for contract terms.
| Layer | Answers | Governs | Cannot replace |
|---|---|---|---|
| Price page | Unit price, ranges, tax basis, validity | Price expectations | Milestones and credit |
| Payment-terms page | Milestones, percentages, credit, instruments, invoices, overdue | Buyer expectations and internal standard | Contract/order clauses |
| Contract/order | Rights, obligations, breach, dispute resolution | The specific transaction | Public website page |
| Export documents page | Invoice, BL, LC, certificate of origin | Documents and presentation | The payment terms themselves |
This layered view is editorial; the buyer's duty to pay is in Articles 626 and 628 of the Civil Code, with breach liability in Articles 577 and 584.
What must the payment-terms page state at minimum?
At minimum: payment milestones and percentages (or calculation basis), settlement currency, tax-inclusive or tax-exclusive, invoice type and timing, credit period and limit, whether acceptance bills or other non-cash instruments are accepted and who bears the discount, who pays freight/taxes/fees, overdue interest and suspension conditions, and how terms are changed and become effective.
Each field looks simple alone; problems appear in combination. If "30% deposit" omits the base, the buyer pays on the tax-exclusive amount while the seller calculates on the tax-inclusive amount—the gap becomes a dispute. If "balance 30 days after acceptance" omits the acceptance period and criteria, acceptance can drag and the credit period becomes unlimited. If "acceptance bills accepted" omits the acceptor type and discount cost, the discount may exceed the margin.
| Field | What to state | Common gap | Evidence |
|---|---|---|---|
| Milestones | Order/drawing approval/pre-shipment/arrival/acceptance/retention | Only "paid before shipment" | Contract/order |
| Percentage/amount | Percentage + base (tax-inclusive or exclusive) | Base unclear | Quotation/invoice |
| Currency/rate | RMB or foreign currency, rate date and source | FX risk allocation unstated | Contract/quotation |
| Tax basis | Inclusive/exclusive, rate or levy rate, freight tax allocation | "Price includes tax" without rate | Quotation/invoice |
| Invoice | Type, timing, red-letter/reissue rules | No invoice timing | Invoice policy |
| Credit | Days, start date, credit limit, approval conditions | Credit starts at order | Credit policy |
| Non-cash payment | Bank/commercial acceptance accepted, acceptor scope, discount bearer | Only "bills accepted" | Bill sample/agreement |
| Overdue | Reminder, interest, shipment hold, new-order hold, legal | No escalation, only "legal action" | Collection records |
This field list is editorial; specific terms, percentages, and credit periods follow the contract/order, credit policy, and finance rules.
How should deposit, progress, pre-shipment, and post-acceptance milestones be split?
Attach each milestone to a verifiable event: contract effectiveness, drawing/technical-agreement approval, first-article or sample approval, shipment, signed delivery, acceptance, and end of warranty. There is no universal percentage; it depends on industry, project value, customization, and buyer credit. The website should give a typical range and calculation basis, not a promise to every buyer.
For custom equipment, molds, non-standard parts, and software projects, payment is commonly split across milestones so cash flow matches delivery progress. Standard products can be simplified to "deposit on order + balance before shipment." The key is that every milestone has checkable evidence: drawing approval, first-article report, shipping document, signed receipt, acceptance report. A milestone without evidence hands the payment decision to the other side's verbal account.
| Milestone | Trigger | Share (example) | Evidence | Dispute point |
|---|---|---|---|---|
| Contract effective | Both parties sign/order confirmed | 20%–30% | Contract/order | Deposit vs. advance |
| Drawing approval | Technical agreement/drawing sign-off | 10%–20% | Sign-off record | Recalculation after changes |
| First article/sample | First-article report or sample approval | 0–20% | First-article report | Approval standard |
| Pre-shipment | Inspection done, shipping notice | 30%–50% | Inspection record/BL | Definition of "shipment" |
| Post-acceptance | Installation/commissioning/acceptance report | 10%–30% | Acceptance form | Acceptance period |
| Warranty expiry | Warranty ends with no open claims | 5%–10% | Warranty records | Retention refund timing |
These percentages are editorial examples, not an industry standard, quotation, or payment commitment to any buyer; actual milestones and shares follow the contract, project risk, and credit assessment.
How should credit terms and limits be set, and how should overdue payment be handled?
State the days, start date, and limit; tie the start date to delivery or acceptance rather than order. For purchases by government bodies, public institutions, and large enterprises from SMEs, the Regulations on Ensuring Payments to Small and Medium-sized Enterprises set clear deadlines and overdue interest; other transactions follow the contract and agreement. Overdue handling should escalate: reminder, interest, shipment hold, new-order hold, legal.
The Regulations (State Council Order No. 802, effective 2025-06-01) provide that government bodies and public institutions purchasing from SMEs must pay within 30 days of delivery, with a contractual maximum of 60 days; large enterprises must pay within 60 days of delivery and may not condition payment on receiving third-party payment; where payment follows acceptance, the period starts from acceptance, and if acceptance is delayed it starts from the agreed deadline; SMEs may not be forced to accept commercial bills or accounts-receivable electronic instruments; agreed overdue interest may not be lower than the one-year loan prime rate at contract conclusion, and absent agreement it is 0.05% per day. The Regulations apply to purchases by government bodies, public institutions, and large enterprises from SMEs—not to all business-to-business transactions.
| Scenario | Deadline rule | Start point | Evidence |
|---|---|---|---|
| Government/public institution purchase | Within 30 days; contract max 60 days | Date of delivery | Contract/delivery note |
| Large-enterprise purchase | Within 60 days; no third-party payment condition | Date of delivery | Contract/receipt |
| Payment after acceptance | Starts from acceptance | Acceptance date | Acceptance report |
| Delayed acceptance | Starts from agreed acceptance deadline | Deadline date | Acceptance clause |
| Progress/periodic settlement | Starts from confirmed settlement amount | Settlement confirmation | Settlement statement |
| Other B2B transactions | Per contract; absent terms, per law | Contract/law | Contract/Civil Code |
Deadline rules are in the Regulations on Ensuring Payments to SMEs, Articles 9–11 and 17; scope follows the original text, and specific transactions follow the contract and law.
Overdue handling should be a ladder, not a single line about "pursuing liability." Level one is pre-due reminders and reconciliation; level two is interest plus holding new orders; level three is holding shipment or service; level four is legal and dispute resolution. Each level needs trigger days, notification method, and evidence. Overdue interest can be estimated as overdue amount × daily rate × overdue days. For example, RMB 1,000,000 at 0.05% per day for 30 days is about RMB 15,000; if the contract uses the one-year LPR, use the value published at contract conclusion and actual days. The example illustrates the formula only, not a commitment for any transaction.
| Level | Trigger | Action | Evidence |
|---|---|---|---|
| Pre-due | 7–15 days before due | Reconcile, invoice, remind | Statement/email |
| 1–15 days late | Past due date | Written demand, confirm payment plan | Demand letter/receipt |
| 16–30 days late | Still unpaid | Charge interest, hold new orders | Interest calculation |
| 31+ days late | No reasonable explanation | Hold shipment/service, escalate approval | Hold notice |
| Persistent | Beyond internal red line | Legal letter, dispute resolution, credit downgrade | Legal records |
This escalation and these days are editorial suggestions; specific interest, suspension, and dispute resolution follow the contract, law, and credit policy.
What should be checked for acceptance bills and non-cash payment?
First decide whether to accept, which acceptor types, the tenor, and who bears the discount. A commercial bill's payment period from issue to maturity may not exceed six months; electronic commercial bills are handled through PBOC-recognised infrastructure, and supply-chain bills are electronic commercial bills; discounting requires evidence of a genuine transaction and debtor-creditor relationship.
The Measures for the Administration of Acceptance, Discount and Rediscount of Commercial Bills (PBOC and CBIRC Order No. 4 of 2022, effective 2023-01-01) state that commercial bills include bank acceptance, finance-company acceptance, and commercial acceptance; the payment period must match the underlying transaction and may not exceed six months from issue to maturity; a discount applicant must have a genuine transaction and debtor-creditor relationship with the drawer or predecessor. For a seller, receiving a bill is not receiving cash: check maturity, acceptor credit, discountability, discount cost, and recourse risk. For buyers subject to the Regulations, SMEs also may not be forced to accept commercial bills or receivables instruments to extend payment indirectly.
| Method | Cash timing | Main cost | What to check |
|---|---|---|---|
| Wire transfer | Same or next bank day | Fees | Account name matches contract party |
| Bank acceptance bill | Maturity; can discount early | Discount interest | Accepting bank, maturity, endorsement chain |
| Commercial acceptance bill | Maturity; harder to discount | Discount + credit risk | Acceptor credit, disclosure |
| Finance-company acceptance | Maturity | Discount interest | Group credit, payment record |
| Receivables electronic instrument | Per platform rules | Transfer/financing cost | Splittable, financeable |
Bill rules are in the Measures on Commercial Bill Acceptance, Discount and Rediscount; specific bills, discounting, and recourse follow the Negotiable Instruments Law, banks, and company policy.
Discount cost can be estimated as face value × annual discount rate × remaining days ÷ 360. For example, RMB 1,000,000 with 180 days remaining at 2.5% annualised gives about RMB 12,500, or roughly RMB 987,500 received. This is an illustrative assumption; actual rates vary with acceptor, tenor, and market. Writing "who bears the discount" into the payment terms is more effective than arguing later.
How should invoices, tax rates, and currency be stated?
State the invoice type (special VAT invoice, ordinary invoice, electronic invoice), timing and trigger, tax rate or levy-rate basis, tax-inclusive or exclusive, and red-letter/reissue rules; for export, state currency, exchange-rate date, and who bears FX gains or losses. Do not hard-code a tax rate; it depends on taxpayer status, goods or services, and policy at invoicing.
The Measures for the Administration of Invoices (2023 revision) provide that a seller receiving payment for goods, services, or other business activities shall issue an invoice to the payer; invoices include paper and electronic forms with equal legal effect; invoices must be issued truthfully in one go according to the prescribed time, sequence, and fields; stubs of issued invoices must be kept for five years. The website can translate these into customer-facing rules: when the invoice is issued, which type, what information is needed, and how returns or discounts are handled by red-letter invoice.
| Item | What to state | Evidence | Common gap |
|---|---|---|---|
| Invoice type | Special/ordinary/electronic; whether special is available | Billing information | Only "invoice available" |
| Timing | After payment/shipment/acceptance, working days | Invoice records | Only when chased |
| Tax basis | Rate or levy rate, inclusive/exclusive | Quotation/invoice | Hard-coded rate without conditions |
| Red-letter/reissue | Returns, discounts, wrong details | Red-letter records | No process |
| Currency | RMB/foreign currency, rate date and source | Contract/quotation | FX allocation unclear |
| FX gain/loss | Who bears, settlement date | Contract clause | Seller bears by default |
Invoice rules are in the Measures for the Administration of Invoices (2023 revision), Articles 18, 21, and 28; specific rates, levy rates, and invoicing requirements follow tax law, tax authorities, and company finance policy.
What should the page say, and how should it link?
Include payment milestones and percentage basis, credit terms and limits, bills and non-cash payment, invoices and currency, overdue handling, term changes, FAQs, and one clear contact route; link to the price page, export-documents page, warranty/returns page, and contact page. Do not publish customer names, contract amounts, bank accounts, or specific credit limits.
Make "payment terms" a page that answers the question on its own, not a corner of the price page. A workable structure: a default payment-method table, an explanation of each milestone and its evidence, then credit, bills, invoices, and overdue handling, and finally an eight-item pre-signing checklist. For overseas buyers, add currency, exchange rate, and letter-of-credit entry points and link to the export-documents page instead of repeating LC examination details here.
| Page module | What to write | Evidence/asset | Common gap |
|---|---|---|---|
| Default terms | Milestones, percentage ranges, calculation base | Contract template/quotation | Only "payment before shipment" |
| Milestones/evidence | Trigger events, confirmation forms, acceptance period | Forms/process | No evidence per milestone |
| Credit | Days, start date, limit, approval | Credit policy | Credit from order date |
| Bills | Accepted or not, acceptor scope, discount bearer | Bill sample | "Bills accepted" too vague |
| Invoice/currency | Type, timing, tax basis, FX | Billing information | Hard-coded rate |
| Overdue | Reminder, interest, hold, legal | Collection process | No escalation |
| Changes | Who may change, notice, effective date | Version record | Verbal changes |
| Contact | Request a formal quote/credit application | Form/contact page | No next step |
These modules are editorial; specific terms, percentages, credit, and bill wording follow the contract, credit policy, and company rules.
Go-live acceptance checklist
Ten checks: milestones, percentages and base, credit and start date, bills and non-cash payment, invoices and tax, currency and FX, overdue handling, privacy and sensitive data, links and contact, and version/update date. Each needs an owner, evidence, and review date.
Sales, finance, legal, procurement, IT, and the website vendor can share this list. The pass condition is not "the page mentions payment methods"; it is that the buyer can tell how much to pay, when, how, what invoice is issued, and what happens if late—and that these statements match the contract template.
| Check | Pass condition | Evidence | If it fails |
|---|---|---|---|
| Milestones | Each tied to a verifiable event | Contract/process | Add definitions |
| Percentage/base | Tax-inclusive/exclusive stated | Quotation | Add basis |
| Credit | Days, start date, limit | Credit policy | Add rules |
| Bills | Acceptor type, tenor, discount bearer | Bill sample | Add guidance |
| Invoice | Type, timing, tax basis | Billing information | Add process |
| Currency/FX | Currency, rate date, allocation | Contract clause | Add clause |
| Overdue | Escalation, interest, hold conditions | Collection records | Add escalation |
| Privacy | No customer names, amounts, accounts, limits | Redaction check | Remove/redact |
| Links/contact | Price, documents, warranty, contact reachable | Page test | Fix links |
| Version | Update date, change log, effective method | Version record | Add record |
This checklist is editorial; specific payment, credit, bill, invoice, and overdue requirements follow the law, contract, finance policy, and professional advice.
Who should read this, who should not, and what decisions does it support?
It suits manufacturers in Changzhou and nearby areas with custom equipment, non-standard parts, molds, engineering projects, or export business that need clear payment terms. It does not suit teams that want one line—"payment before shipment"—to cover every buyer, or that treat a website statement as a contract clause.
Read it if you are in sales, finance, legal, procurement, export, IT, or a website vendor; you are revising the price page, a payment-terms page, credit policy, bill policy, or collection process; or you need to decide the deposit, balance timing, credit availability, bill acceptance, invoicing, and overdue handling. Skip it if you have no credit-management capability but promise "credit for everyone"; your website, quotation, and contract each say something different; or you want one page to replace the contract, bills law, tax law, or counsel. It supports self-review of milestones, percentage basis, credit start, bill choice, invoice wording, overdue escalation, and page acceptance.
Lingyi Information is a website development and enterprise AI project provider, not a law firm, accounting firm, bank, or credit-rating agency. This article is not a substitute for legal, tax, bill, FX, or credit-management advice. Changzhou projects are delivered remotely or on site as confirmed per project; Lingyi is one candidate, does not claim a local office or team, and does not promise credit terms, limits, collections, exchange rates, or inquiries.
FAQ
Should the payment-terms page state specific percentages?
State a typical range plus the calculation base and confirmation method, and note that the contract/order controls. A fixed percentage reads as a promise to every buyer; saying nothing forces repeated questions. Ranges must come from real company policy and closed deals, not invention.
Is a 30% deposit an industry standard?
No. Custom equipment, molds, non-standard parts, software projects, and standard products differ widely; the structure depends on project value, customization, lead time, buyer credit, and competition. The website can give example ranges, but must label them as examples, not commitments, and defer to the contract.
What if the customer asks for 90-day credit?
First check the buyer type and applicable rules: for purchases by government bodies, public institutions, and large enterprises from SMEs, the Regulations set 30/60-day deadlines; other transactions follow the contract. Then assess credit, set limits and escalation, and if needed require security, shorten terms, or split deliveries. Do not promise "90 days for everyone" on the website.
Can we accept acceptance bills?
Yes, but set rules first: which acceptor types (bank, finance company, commercial), tenor, discountability, who bears the discount, and recourse. A commercial bill's payment period may not exceed six months from issue to maturity; receiving a bill is not receiving cash, and discounting requires evidence of a genuine transaction.
When is the invoice issued, and what tax rate should be stated?
Under the Invoice Measures, a seller receiving payment for business activities shall issue an invoice; electronic and paper invoices have equal effect; issuance must be truthful and complete within the prescribed time and fields. State the timing, invoice type, and tax basis, but do not hard-code a rate; the rate or levy rate depends on taxpayer status, goods/services, and policy at invoicing.
Is "payment before shipment" risky on the website?
It can be the default rule, but add exceptions and evidence: who may apply for credit, approval conditions, when the acceptance payment starts, and how overdue is handled. If the page says "payment before shipment" while most sales are on credit, the page and contract diverge and buyers misjudge the threshold.
One-sentence takeaway
A Changzhou manufacturer's payment-terms and settlement page should not stop at "T/T accepted, payment before shipment." It should state milestones and percentage bases, credit and start dates, acceptance bills and other non-cash payment, invoices and currency, overdue escalation, and change rules—and the website, quotation, contract, and actual receipts must tell the same story.
Method and limitations
This is a review of public rules and project practice, not a compliance certification or legal opinion on any company, transaction, bill, invoice, tax, or credit policy. No undisclosed customer contracts, prices, credit limits, or bank information were used. Payment milestones, percentage ranges, credit escalation, discount, and overdue-interest examples are editorial assumptions, used only to illustrate calculation; they are not quotations or commitments. Actual terms, credit, bills, invoices, exchange rates, and overdue handling depend on the law, contract/order, finance and credit policies, and professional advice.
Sources and scope
Information is current to 2026-10-31. The following are public official/primary pages; their scope, version, and wording control.
- Regulations on Ensuring Payments to Small and Medium-sized Enterprises (State Council Order No. 802, effective 2025-06-01): gov.cn. Articles 9–11 on deadlines and start points, Article 17 on overdue interest.
- Measures for the Administration of Acceptance, Discount and Rediscount of Commercial Bills (PBOC and CBIRC Order No. 4 of 2022, effective 2023-01-01): gov.cn. Bill types, genuine transaction requirement, Article 25 on tenor.
- Measures for the Administration of Invoices (2023 revision): Guizhou Tax Service, STA. Article 18 on issuance, Article 21 on truthful issuance, Article 28 on five-year retention.
- Civil Code of the PRC, contract book: Supreme People's Court. Articles 577, 584, 626, and 628.