The PI says USD 12,400. You send USD 12,400 from your bank. The factory says they received USD 12,335 and the order is short. Or they quoted in dollars, you paid in euros at “today’s rate,” and nobody agrees what today was. The unit price was never the fight. The fight is what “paid in full” means after banks and the exchange rate have taken a cut.
This piece is the payment mechanics on the PI, not how to open an account.
1. Name the currency and the account
Write the invoice currency once, and the receiving account in that currency. If they want RMB in a domestic account, the PI should not still say USD FOB and leave the conversion to a WeChat rate. If they want USD in a foreign-exchange account, do not send RMB and ask them to “convert it.”
The legal name on the account must match the seller on the PI. A shortfall caused by paying the wrong entity is not a bank fee. It is a misdirected payment.
2. Who pays the banks
A wire has sending-bank fees, possible intermediary fees, and receiving-bank fees. Write one of the usual allocations in words the factory will recognize:
- you pay your bank; they pay theirs (the shortfall in the middle is still a fight unless you add “ours / ours” or “full amount received”)
- amount received must equal the PI total — you increase the send until their account shows the invoice figure
If you only write “T/T,” the factory will count what landed. You will count what left. Those two numbers are rarely the same.
3. FX needs a rule if the price and the payment differ
If the PI is in USD and they later ask for RMB, state the rate source and the date (for example, a named bank’s published rate on the payment date). Do not use “WeChat mid-market.” If you want to keep one currency only, say payments in any other currency are not accepted. Silent conversion is how a 2% hole appears and both sides call it the other party’s problem.
4. The receipt that closes the invoice
Ask for a written confirmation of the amount credited, in the invoice currency, citing the PI number. “Got it” on WeChat is not a receipt. If they confirm less than the PI, you still have an open balance — even if you believe you sent the right figure.
The bottom line
Paid in full means the seller’s named account shows the invoice amount in the invoice currency after bank charges. Write the currency, the “amount received” rule, and any FX source. A unit price with no payment mechanics is only half a price.
If you need the currency and bank-charge wording written into the PI in English and Chinese, I can prepare the clause and issue a stamped set under our bilingual translation company seal when you need one. See what this covers.
Bank charges and FX depend on the banks you use. This article is general sourcing guidance, not banking or legal advice.