At Samyangfoods, we value our business partners and are committed to ensuring a secure, transparent, and flexible payment process for all bulk and wholesale transactions.
This Payment Policy outlines our accepted payment methods, terms, and important guidelines to help you complete your orders with confidence.
1. Payment Terms
All transactions on our platform are Business-to-Business (B2B) and involve bulk purchases only.
To ensure smooth processing, payments must be completed before shipment unless otherwise agreed in a formal contract.
Our standard terms are:
- 100% payment before dispatch (for new buyers)
- 50% deposit and 50% before shipping (for returning buyers or under contract)
- Letter of Credit (L/C) available for large-volume orders upon approval
Specific payment terms will be clearly stated in your official quotation or proforma invoice.
2. Accepted Payment Methods
We offer several secure and internationally recognized payment options:
- Bank Wire Transfer (T/T): Recommended for international bulk transactions.
- Letter of Credit (L/C): Available for approved distributors or high-value orders.
- Corporate Payment Gateway: For partners with established trade accounts.
- Other Methods: PayPal or Western Union may be accepted for smaller deposits or documentation fees (not for full container shipments).
Note: All payment instructions will be issued only through our official company email and banking details.
3. Currency and Conversion
- All payments are accepted in USD (U.S. Dollars) unless otherwise agreed.
- Buyers are responsible for any bank fees, exchange rate differences, or transaction charges applied by their financial institutions.
- The total amount received by our account must equal the invoice total for the order to be processed.
4. Invoice & Payment Confirmation
Upon confirming your order:
- A Proforma Invoice will be issued detailing all costs (product, shipping, insurance, and handling).
- Buyers are required to make payment within 5 business days of receiving the invoice.
- Please send a copy of the swift message or payment receipt to our sales team for verification.
- Production and dispatch will commence only after the funds have cleared into our corporate account.
5. Late Payments and Defaults
- If payment is not received within the agreed timeframe, the order may be delayed or cancelled.
- For accounts with extended payment terms (under contract), late payments may incur a penalty fee as specified in the distributor agreement.
6. Fraud Prevention
We take payment security very seriously. To prevent fraud:
- Never send payments to unauthorized bank accounts. Our banking details will never change unexpectedly. If you receive an email requesting payment to a new or different account, please call your dedicated sales manager immediately.
- We may require additional company verification before accepting payments from first-time buyers in high-risk regions.
If you have any questions regarding our Payment Policy or need to discuss customized terms, please contact our financial department.
