payment PayByLnstallments is mostly used in some product transactions with long production cycle and high cost. Such as complete sets of equipment, large vehicles, heavy machinery and equipment and other products. The method of installment payment is that after the import and export contract is signed, the importer pays a small part of the payment as a deposit to the exporter, and most of the rest will be paid in installments after the products are partially or completely produced and shipped, or when the goods are installed, commissioned, invested and quality guaranteed.
Installment payment was developed after World War II. At first, it was limited to the purchase of general daily goods or services. Later, with the rapid development of productive forces, the scale of industrial and agricultural production is expanding day by day, and the required expenses are increasing. In addition, with the development of bank credit, the field of installment payment is extended to enterprises buying large machinery and equipment and raw materials.