---
title: "Payment Terms | Mintwell Autotech"
url: https://mintwellautotech.com/en/payment-terms/
description: "Accepted payment modes, Letter of Credit terms, T/T splits, bank charges, and the compliance checks Mintwell Autotech performs before accepting an export order."
---

# Payment Terms

Accepted modes of payment, LC terms, T/T split, bank charges, and the compliance checks Mintwell performs before accepting an order.

Last updated: 12 April 2026

## 1\. Definitions

Bank LC — Letter of Credit, an irrevocable payment undertaking issued by the Buyer's bank.

T/T — Telegraphic Transfer (bank wire).

CAD — Cash Against Documents. Buyer's bank releases shipping documents on payment.

DP / DA — Documents Against Payment / Documents Against Acceptance (documentary collection via banks).

UCP 600 — ICC Uniform Customs and Practice for Documentary Credits, governs LC operations.

## 2\. Accepted Payment Modes

### Irrevocable Bank LC at sight

Preferred for orders above USD 50,000 and for all first-time buyers. Confirmed LC (confirmed by a first-class international bank) required from buyers in sanctioned or high-risk jurisdictions. Operative under UCP 600, payable at sight against presentation of shipping documents.

### T/T Advance

Default split: 30% advance on PI acceptance, 70% balance against scanned B/L copy before B/L release to Buyer. Production begins only after advance is credited to Mintwell's bank account.

### CAD / DP

Available to approved repeat buyers with a minimum of three clean prior transactions. Documents routed through Mintwell's bank to the Buyer's bank; documents released on payment.

### DA / Open Account

Offered case-by-case to long-standing buyers with ECGC or equivalent credit insurance cover. Typical tenor: net 30 to net 90 days from B/L date, subject to approved credit limit.

## 3\. Letter of Credit Requirements

LCs must be:

- Irrevocable, at sight, operative on receipt, and subject to UCP 600.
- Issued by a reputable bank acceptable to Mintwell; LCs from banks outside the top Indian corresponding-bank list must be confirmed by a first-class international bank at Buyer's cost.
- Advised through Mintwell's nominated bank in India.
- Allow partial shipment and transhipment unless explicitly prohibited in the PI.
- Provide a workable latest shipment date — typically ready date + 45 days.
- Expire in India at the counters of Mintwell's bank.
- Include a tolerance clause (+/- 5% on quantity and value) for bulk export items.

LC drafts must be sent for Mintwell's review before issuance to avoid amendment charges.

## 4\. Bank Charges

Standard split under all payment modes:

- Charges of the remitter's / issuing / advising bank outside India — to Buyer's account.
- Charges of Mintwell's beneficiary / negotiating bank in India — to Mintwell's account.
- LC amendment charges, discrepancy fees, and reimbursement charges are to the Buyer's account unless the discrepancy is caused by Mintwell.

## 5\. Currency

Default invoice currency is USD. EUR, GBP, AED, and INR (for buyers operating through Indian entities) are accepted on request. Exchange-rate fluctuations between PI acceptance and payment are to the Buyer's account.

## 6\. Compliance & Sanctions Screening

Before accepting a PO, Mintwell screens:

- Buyer entity against OFAC SDN, UN Security Council Consolidated List, EU sanctions list, and Indian RBI Caution list.
- Destination country against active sanctions and Indian DGFT export restrictions.
- End-use declaration — we do not ship to restricted end-users or for restricted end-uses.

Mintwell reserves the right to refuse or cancel any order that fails compliance screening, with full refund of any advance received less bank / wire transfer charges.

## 7\. Refunds & Cancellation

Refund rules under the various cancellation scenarios (pre-production, post-production, LC amendment, failed compliance) are set out in our [Terms & Conditions](https://mintwellautotech.com/en/terms) clause 5.

## 8\. Language of this policy

These Payment Terms are published in multiple languages for convenience. In case of any discrepancy between translations, the English version shall prevail.

### Payment & LC queries

For LC drafts, bank coordinates, or alternative payment arrangements, contact [info@mintwellautotech.com](mailto:info@mintwellautotech.com) or [+91 92664 24442](tel:+919266424442).

[Request a Quote](https://mintwellautotech.com/en/contact)