Payment Policy

1. Scope, Group Entities and Contractual Seller

In this Policy, “YG GROUP” is used as a collective group and brand designation. Entities participating in the relevant business may include parent or holding companies, direct or indirect subsidiaries, and other entities that control, are controlled by, or are under common control with the relevant group companies, including entities under the same ultimate control (“Affiliated Entities”). For this Policy, control may arise through share ownership, voting rights, contractual arrangements or other lawful means of directing an entity’s management or business decisions.

This Policy applies to electronic component purchases for which it forms part of the agreed transaction terms. The contractual seller for each order (“Seller”) is the specific legal entity identified as the seller in the mutually agreed sales contract, accepted order confirmation or mutually accepted proforma invoice. References to “we,” “us” and “our” concerning that order refer to its Seller, which may be any appropriately authorised and eligible Affiliated Entity.

The Seller’s full legal name, registered address and any registration or tax identification required for the transaction will be provided before the customer commits to the order or makes payment. An entity’s legal name need not contain “YG GROUP,” but its identity and role must be verifiable. Any ambiguity or inconsistency must be clarified before payment.

Each entity retains its separate legal identity. Shared ownership, control, branding, personnel or business support does not, by itself, make every Affiliated Entity a contracting party, guarantor or jointly liable party. This does not exclude liability imposed by applicable law or a valid express undertaking. Where more than one Seller participates in a transaction, their respective contractual roles, amounts and obligations must be expressly identified.

2. USD Bank Transfers and Authorised Collection

USD bank transfer, including telegraphic transfer (T/T), is our primary payment method for international orders. Payments should normally be made to the Seller’s corporate bank account identified in verified payment instructions.

Where a different Affiliated Entity or a payment service provider is designated to receive payment on the Seller’s behalf (“Authorised Recipient”), the arrangement must be lawful, supported by appropriate authorisation, and permitted under the relevant banking or payment-service rules. The arrangement must be disclosed to and confirmed by the customer before payment.

The payment instructions must identify the Seller, the Authorised Recipient, the basis and scope of the collection arrangement, the relevant order or invoice, and the payment currency, amount and account details. Reasonable supporting documentation will be provided where required for verification or compliance.

Affiliation alone does not authorise an entity to collect payment. An authorised collection arrangement does not, by itself, replace the Seller or transfer its contractual obligations. Sales, payment and other required trade documents must accurately reflect each entity’s actual role.

Customers should verify the beneficiary name, account number, bank details, applicable SWIFT/BIC and order reference before initiating a transfer.

3. WeChat Pay and Alipay

To accommodate sample purchases, trial orders and other eligible small-value purchases, WeChat Pay or Alipay may be made available following our written confirmation.

Payments must use verified enterprise merchant accounts or approved payment-provider channels held or operated by the Seller or an Authorised Recipient. The channel must be permitted to process the actual transaction, including any collection on behalf of another entity. An Affiliated Entity’s merchant account must not be used solely on the assumption that group affiliation permits such use.

Availability depends on the merchant entity, payment product, customer account, transaction type, country or region, currency, amount and applicable platform restrictions. The available method, merchant name, payment limit and payable amount will be confirmed before payment. A channel approved only for consumer transactions must not be used for an ineligible business-to-business purchase.

Under this Policy, payments must not be collected through employees’ or other individuals’ personal bank accounts, personal WeChat or Alipay wallets, or red packets. Where a proposed method is unavailable or unsuitable, an eligible alternative must be agreed before payment.

4. Payment Currency and Currency Conversion

Unless otherwise agreed in writing, international orders are payable in USD. Payment in another currency, including CNY, requires prior confirmation and must be reflected in the applicable order documents or verified payment instructions.

Where we agree to convert a quoted amount into another payment currency, the conversion basis, payable amount and validity period will be confirmed before payment. Customers should not independently convert an invoice amount and remit a different currency without approval.

Any conversion performed by a customer’s bank or payment provider is subject to that provider’s disclosed terms. Payment of the agreed alternative-currency amount will be credited against the corresponding order amount, regardless of whether an Authorised Recipient processes the payment.

5. Payment-Related Charges

A payment may involve remitting-bank charges, intermediary-bank charges, receiving-bank charges, payment-processing fees or currency-conversion costs.

The allocation of such charges between the customer and the Seller will be agreed before payment. Any payment-related fee charged to the customer by the Seller or its Authorised Recipient must be disclosed, permitted by applicable law and payment-provider rules, and reflected in the agreed payment arrangement.

Any difference between the expected and received amount will be reconciled against the agreed fee arrangement. A merchant-processing fee deducted from settlement does not automatically constitute an underpayment by the customer. Internal settlement costs between the Seller and an Authorised Recipient will not be separately charged to the customer unless expressly agreed beforehand and legally permitted.

6. Payment Schedule and Order Acceptance

Unless otherwise agreed in writing, full payment in advance is required. Procurement, stock allocation and shipment are subject to the Seller’s acceptance of the order, verification of the required payment and completion of necessary checks.

Advance-payment instalments, balance-payment schedules or credit terms apply only where expressly approved and documented by the relevant Seller. Previous purchases or credit facilities granted by another Affiliated Entity do not automatically establish credit terms with that Seller unless a shared arrangement has been expressly agreed.

Payment alone does not guarantee order acceptance or stock reservation. If the Seller cannot accept an order after receiving payment, including payment received through an Authorised Recipient, the refundable amount will be handled under Section 11.

7. Payment Verification and Discharge of Payment Obligations

For bank transfers, receipt is verified against funds credited to the designated account and available for the relevant transaction. For WeChat Pay or Alipay, receipt is verified through successful transaction records in the authorised merchant or payment-provider system, in accordance with the applicable payment rules.

A remittance application, payment screenshot or customer-side notification alone is not sufficient evidence of verified receipt. We may request a bank reference or payment transaction number to assist reconciliation and will not unreasonably delay verification.

Where the customer follows authentic collection instructions valid when payment is initiated, payment received by the designated Authorised Recipient under the above criteria will be treated as payment to the Seller for the corresponding order. The customer’s payment obligation will be discharged to the extent of the amount properly credited under the agreed currency and fee arrangements.

A delay or failure in transferring funds internally from the Authorised Recipient to the Seller does not, by itself, require the customer to pay that amount again. Any subsequent lawful reversal or return of the original payment will be addressed under the applicable agreement and Section 10.

Payments will be allocated to the identified order. They will not be applied to unrelated debts owed to another Affiliated Entity merely because of group affiliation. Any cross-entity reallocation requires an appropriate lawful basis and, where applicable, the written agreement of the affected parties.

8. Payer Identity and Payments on Behalf of Customers

Payments should normally originate from an account held by the named purchaser. Where a customer’s affiliate, purchasing agent or authorised individual proposes to pay on its behalf, the arrangement must be disclosed to and approved by the Seller before payment.

We may request evidence of the payer’s identity, relationship with the purchaser, payment authorisation and relevant transaction background. Approval is subject to applicable law and the payment channel’s rules and does not automatically extend to other orders or Sellers.

An approved third-party payment does not, by itself, transfer the purchaser’s contractual rights or obligations or make the payer the purchaser. It also does not permit our personnel to receive funds in personal accounts.

We may decline payments from unidentified parties or parties whose involvement lacks a verifiable commercial explanation.

9. Compliance and Transaction Review

Orders and payments must comply with applicable anti-money-laundering, counter-terrorist-financing, foreign-exchange, sanctions, export-control and other relevant requirements, together with the rules governing the payment channel.

We may request information reasonably necessary to verify the purchaser, payer, Seller, Authorised Recipient, relevant ownership or control relationships, source of funds, transaction purpose, delivery arrangements or end use. Information will be handled in accordance with the applicable privacy notice and legal requirements.

We do not accept arrangements intended to conceal transaction parties or purposes, misrepresent trade documents, evade applicable restrictions or split payments to circumvent limits or screening. Changes of Seller, collection entity, account or payment channel must not be used for such purposes. Legitimate instalment arrangements remain subject to prior agreement.

Where necessary, we may pause, decline or discontinue an affected transaction. Any funds held will be handled lawfully and in accordance with applicable requirements of competent authorities, banks or payment providers. A review does not, by itself, entitle the Seller or an Authorised Recipient to retain customer funds permanently.

10. Delayed, Unsuccessful or Disputed Payments

If payment is not received by the agreed deadline, the Seller may, subject to the contract and reasonable notice, suspend procurement or shipment, or release a stock reservation. Any cancellation or rescheduling of an accepted order will be handled under the applicable agreement.

Customers should promptly report unsuccessful, duplicate, incorrect or unauthorised payments and contact us before repeating a payment whose status is unclear. Where an Authorised Recipient is involved, the Seller will coordinate the payment enquiry with that recipient.

We will cooperate with reasonable payment enquiries and applicable dispute procedures. Nothing in this Policy excludes statutory rights or applicable payment-provider dispute rights. A reversed or returned payment remains payable only to the extent that the underlying amount is still lawfully due and has not otherwise been settled.

11. Refunds, Overpayments and Unapplied Funds

Refund eligibility is governed by the applicable sales agreement, our Refund & Return Policy where incorporated into the transaction, and mandatory law. Using a particular payment method or an Authorised Recipient does not, by itself, make an order non-refundable. Any specific cancellation restriction must be disclosed and accepted as part of the order terms.

The Seller remains responsible for satisfying its contractual refund obligations, including where the original payment was collected by an Authorised Recipient. The Seller will arrange any necessary cooperation with that recipient. An internal settlement dispute between them does not, by itself, remove the customer’s valid refund entitlement.

Approved refunds and verified overpayments will normally be returned through the original payment method to the original payer, in the original transaction currency. If that route is unavailable, an alternative may be used only where permitted by applicable law and payment-provider rules, after appropriate verification and any required approvals. Refunds will not be redirected to an unrelated third party.

Any deduction must have a contractual or legal basis and be explained. Where a refund is due, it will be initiated without undue delay once the necessary checks are complete and the funds can lawfully be returned. Platform limitations do not, by themselves, extinguish a valid refund obligation.

12. Payment Security and Changes of Entity or Account

Payment instructions must be issued or approved by an authorised representative of the Seller and obtained through verified business channels. Before a first payment or any change of beneficiary, bank account, merchant identity or payment link, customers should independently confirm the instructions using previously verified contact details.

Do not rely solely on an unexpected email, chat message, QR code or contact number supplied in a change request. A statement that an account belongs to a “group company” or “partner company” is not sufficient verification. If the displayed payee differs from the confirmed recipient, stop the payment and contact us.

A change of collection account does not, by itself, change the contractual Seller. Any proposed replacement of the Seller or transfer of its contractual obligations must be separately documented and obtain any consent required by the contract or applicable law. Revised instructions must not retrospectively invalidate payments properly made under earlier valid instructions.

We will not request your banking password, payment PIN or one-time verification code. Suspected fraudulent instructions should be reported immediately to the Seller and the relevant bank or payment provider.

13. Relationship with Other Terms and Policy Updates

This Policy supplements the Terms and Conditions applicable to the relevant transaction. Subject to mandatory law and any agreed contractual order of precedence, a mutually agreed written sales contract takes priority, followed by mutually accepted order-specific payment terms, and then this Policy.

Payment instructions implement the agreed payment arrangement; they do not, by themselves, amend the agreed price, replace the Seller, transfer contractual obligations or override applicable law or payment-channel restrictions.

Shipping, delivery, cancellation, warranty and return matters remain governed by the relevant agreement and applicable policies. The involvement of an Affiliated Entity in collection, logistics or customer support does not, by itself, transfer the Seller’s contractual obligations to that entity.

Updates to this Policy apply prospectively and do not change accepted orders unless the parties agree otherwise or applicable law requires it. Payment enquiries should be directed to the verified contact for the relevant Seller or the contact details published on the official YG GROUP website.