Nowadays you locate products manufactured in China everywhere. Importing from China brings both excitement and fear to numerous buyers. There is a possibility of big earnings from the successful import business of selling products imported from China. Yet, there is the problem of transacting using the Chinese who have an entirely different business culture.
At one time when Chinese businessmen only accepted Western-Union transfers and wire transfer payments or bank transfers that had been not secure. However, using the recent advancement of the Chinese businesses from the yiwu market buying agent, many internationally acceptable payment choices available today. In case the supplier requests for charge card payment, it would be wise to channel it through alternative party processors like PayPal. Sensitive credit information is definitely not divulged for the sellers as well as the buyers can order payment to become withheld if there are issues with the delivery or transaction. If the agreement is for bank transfer, the safest would be to transfer into a company checking account instead of your own bank account.
There are other international payment options like letter of credit (L/C) drawn at sight which is the most in-demand, time L/C or bills of exchange. Each payment option comes with its unique advantages and risks. What is important is that all the time keep a documented record of all payment transactions in case you need to file a dispute case.
Get started by learning more about china import export business therefore you understand the intricacies of the trade. If necessary, undergo an import export business exercise program or get yourself a reputable import expert coach to instruct you. Prevent businessmen from cheating you at the start by trying to find a reliable manufacturer or supplier. Use payment methods that happen to be reliable and can protect you against fraud. Better still, get a reliable import export agent will certainly be a big assistance in negotiations.
Chinese manufacturers and suppliers have staffed themselves with English speaking sales representatives who is able to communicate efficiently. They are now more visible on the web and have communication tools for example messaging and chat using Skype, Yahoo Messenger, GTalk and other tools where initial talks can be done and requests for photos, information and quotations can be accomplished. When communication may well be a issue with companies who do not have English speaking staff or interpreters, getting an import export agent would prove useful. He will make sure that complex issues will be understood and requests or commitments are clearly communicated both ways.
There were several reports of recalls for goods that are created in China, which brings on the forefront of people’s minds that there is absolutely no guarantee of quality if you import products from China. Some big names in China’s import export business claim that the manufacturers are not wholly to blame as they just follow the specifications given to them through the customers. To ensure China importations are safe, importers should figure out the security compliance standards in the yiwwu market and communicate these exact specifications for the manufacturer. It is additionally best to get a sample order first so the caliber of the product’s quality and safety is visible firsthand.
If doubtful, the following best course of action is always to get the expertise of yiwu market who can perform work for you and assist you in your organization transactions. Keeping all these things in your mind would help you ride the bandwagon on importing cheap products from China and make up a profitable import business.