We quote using either FOB (strongly preferred), CIF or CNF terms. Currency: USD or CNY (RMB).
We request a prepayment of 35% of the FOB invoice value, with the remaining balance needing to be paid after the buyer has been provided with a copy of the Bill of Lading. The Bill of Lading is released to the buyer after we have received the outstanding balance.
We request payments to be received by bank wire, also called Telegraphic Transfer (T/T). This keeps everybody honest and leaves a clear audit trail.