payment policy
- General Terms
This Payment Policy applies to all payments made for foreign trade motor products purchased through eccmotor official website, email orders, or authorized sales channels. By submitting an order and making payment, you agree to comply with the terms outlined below. All payments are subject to the final order confirmation issued by our sales team, as specified in our Purchase Policy. - Accepted Payment Methods
We support the following secure and reliable payment methods for international transactions, tailored to the needs of foreign trade motor purchases:
Wire Transfer (T/T): Preferred for orders of all sizes, especially bulk or customized motor orders. Bank details (including SWIFT code, account number, and beneficiary name) will be provided in the formal order confirmation.
PayPal: Accepted for sample orders, small-value standard motor orders (up to $50,000), or advance payments. Payments via PayPal must be made to our official business account, and transaction fees (if any) shall be borne by the customer.
Credit Card: Visa and Mastercard are accepted for standard motor orders (up to $80,000). Payments are processed through a secure third-party payment gateway compliant with PCI DSS (Payment Card Industry Data Security Standard) to protect cardholder information.
Escrow Service: Available upon mutual agreement for high-value or custom orders, providing additional security for both parties. Escrow terms will be specified in a separate agreement.
- Payment Terms & Timelines
To ensure smooth order processing and production, the following payment terms apply:
Standard Motors (Non-Customized):
100% payment before shipment.
Customized Motors :
100% advance payment upon order confirmation to customize.
Sample Orders: Full payment is required upon order confirmation. Shipment will be arranged within 3-5 business days after payment verification.
- Currency & Exchange Rates
All payments must be made in the currency specified in the order confirmation (USD, EUR, or GBP). If you wish to pay in another currency, prior written agreement is required, and any currency conversion fees will be borne by you.
Exchange rates are based on the mid-market rate published by major financial institutions (e.g., XE.com, Bloomberg) on the date of payment. We are not responsible for any losses or additional costs incurred due to currency fluctuations after order confirmation. - Payment Processing & Verification
Payments are processed within 1-3 business days upon receipt of funds. For wire transfers and L/C, verification may take additional time depending on the issuing bank and international banking procedures.
We will send a payment confirmation email once funds are successfully received and verified. If payment is not received within the specified timeline (e.g., 7 business days for advance payment), we reserve the right to cancel the order or delay production without prior notice.
In case of incomplete or incorrect payment information (e.g., wrong account number, missing reference), you must notify us immediately. Any bank charges, penalties, or delays resulting from incorrect payment details shall be your responsibility. - Payment Security
We prioritize the security of your payment information and adhere to international data protection standards (e.g., GDPR, PCI DSS). All payment transactions are encrypted using secure communication protocols (SSL/TLS), and we do not store sensitive payment details (e.g., full credit card numbers, bank account passwords) on our servers.
For third-party payment processors (e.g., PayPal, credit card gateways), their respective privacy and security policies apply. We recommend reviewing these policies before making payment. - Refunds & Cancellations
Refunds are processed in accordance with our Purchase Policy and the following terms:
For order cancellations approved before production starts: A full refund of the advance payment will be issued within 5-7 business days, minus any bank processing fees (typically 1-3% of the payment amount).