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Best options to make payments to your suppliers from China
So, you have decided to start your business, and after the Market Research Asia you have found a perfect
supplier which will work for you to supply the products that you need. Next step after this is to discuss about
various terms and conditions about the trade which you will use. However, it is significant that you have proper
knowledge and have done proper China Market Research. It is also important to have understanding about
international commercial terms and the incoterms. When you want to get some clarity you can download the
chart. If you want you may even work with your own terms and upon the agreement that you have with the
supplier, when you want. However, following are usual terms that are the people in Import or the Export
Business use.
However, now most common kind of these are "Freight on Board" or also what it is known as FOB. It works in
such a way, both you as a supplier would also agree to the "FOB Hong Kong" for the initial order. This also
means that the supplier will also pay shipping of the goods. Hence, upon delivery of China Capital Market,
the shipment to point of the destination, you would also be one to pay perfectly get the order and also have them
perfectly shipped to the warehouse.
Also, everything is also negotiable, and many common terms people with the business use is 30%, 70%. 30%
which is paid on time of the order, it will also give the manufacturer money to purchase the raw materials
required for the order. However, 70% would be also paid while the goods are also shipped.
Other type of the term used by the importers is 30% which is paid while the order gets placed, 55% while order
gets shipped even 15% balance that will also get paid while the balance is also received. With the Financial
Services Consulting Firm the payments are smooth, and if you don’t keep a mediator in between there are
some kind of the risk involve in such terms, it is the job to do the complete background about the suppliers to
ensure that they are usually credit worthy, when they have capability to meet the stipulations.
The common methods for payment as per the China Payments Research which is used by the importers is
wire transfer, also if you plan using this method, so you should also search for market which you need as the
fees differ from one bank to another bank.
At the same time, when you will finally write down the purchase order or when you write down the contract,
you need to make sure that you always have clear and clean agreement as well as options which mainly includes
"quit clauses" as well as particular penalties in case if there is any problems arise, such as delays of the
shipment or cancelation of the shipment.