Terms of Payment:

• Order beginning is under receiving 30% deposit, shipment is under 70% balance by T/T.

• If total amount of one invoice is more 80000USD, after estimate, touchlite can conside do 30% deposit, balance by L/C at sight.
  

• All payments under this agreement shall be effected in US dollar.
  

• Should the Customer delay in respect of any payment due to Touchlite. then Touchlite shall have the right, in addition to all other rights to which Touchlite is entitled at law, to charge interest on the overdue amount at the rate of 3% per annum in excess of the interest rate prescribed by the China RMB rate calculated from the date of invoice to the actual date of full and final payment. Any payment by the Customer shall be credited first against any interest so accrued and the balance of payment  if any shall be applied in reduction of the outstanding balance of the contract price. 
  

• Customers with rebate schemes will incur a late payment rebate penalty whereby each late payment received (e.g. cleared funds in our bank) after the due date will in- cur a 10% deduction from total rebate entitlement.