The more correct translation should be:

payment terms must be 20% deposit and 80% against B/L.

The payment terms are 20% advance payment and the remaining 80% balance will be collected against the bill of lading.

COA - A long-term ocean freight contract or contract of affreightment. This means that the ship owner reserves part or all of the cargo space for the charterer for a period of time.

(A cargo ship can also be leased to another party in its entirety, just like a house. The lessee has the right to use the ship as he wishes. This method is generally called a Charter-Party and is different from a COA.

)

Of course, COA also has many other explanations related to shipping: such as the above-mentioned Certificate of Analysis; Cash on Arrival; Certificate of Authenticity; Charter Ownership Agreement;

English Niu Ren Tuan