The first installment of the micro-store is one month, and the installment payment is mostly used for some products with long production cycle and high cost, such as the export of complete sets of equipment, large vehicles and heavy machinery and equipment. Installment payment means that after the import and export contract is signed, the importer pays a small part of the payment to the exporter as a down payment, and most of the rest is paid in installments after part or all of the products are produced and shipped, or after the goods are installed, debugged, invested and guaranteed.

Introduction to installment payment

Installment payment was initially limited to the purchase of ordinary daily goods or services. Later, with the rapid development of productivity, the scale of industrial and agricultural production is expanding and the cost is increasing. In addition, with the development of bank credit, the field of installment payment is extended to enterprises to buy large machinery and equipment and raw materials.

With the improvement of China's financial services and the change of people's consumption habits, installment payment, which is popular abroad, has been introduced to China and quickly recognized by domestic consumers. It is usually young people who have poor current payment ability but have consumer demand who spend by stages. The products it consumes are usually laptops, mobile phones, digital products and so on.

Installment payments are usually provided by banks and installment suppliers. Banks provide consumers with personal consumption loans equivalent to the amount of goods they buy, and consumers use the loans to pay their suppliers, who provide guarantees for consumers and bear irrevocable joint and several liabilities. Young people who spend by installment are usually called installment families.