8.TERMS OF PAYMENT: The Buyer prepays 40% (1.440.000 USD)of the total contract payment (for120000 pcs) of the products by T/T as the down payment in 20working days of signed contract. The Seller should begin to produce on the date when the down payment is received by the Seller’s bank, the balance of 60%(2.160.000 USD) should be paid off on examining and loading the goods by Irrevocable and confirmed (L/C) for each partial shipment, settle the payment of partial shipment on each delivery.