Nowadays you see products manufactured in China everywhere. Importing from China brings both excitement and fear to a lot of buyers. You have the potential for big earnings from a successful import business of selling products imported from China. Yet, there is the problem of transacting using the Chinese that have an entirely different business culture.
There was a time when Chinese businessmen only accepted Western-Union transfers and wire transfer payments or bank transfers that have been not secure. However, using the recent continuing development of chinese people businesses inside the yiwu agent, many internationally acceptable payment choices are now available. In the event the supplier requests for credit card payment, it will be wise to channel it through 3rd party processors like PayPal. Sensitive credit information is definitely not divulged to the sellers as well as the buyers can order payment to get withheld if there are actually problems with the delivery or transaction. In case the agreement is designed for bank transfer, the safest would be to transfer to your company banking account and never an individual banking account.
There are other international payment options for example letter of credit (L/C) drawn at sight the most widely used, time L/C or bills of exchange. Each payment option incorporates their own advantages and risks. What is important is the fact that all the time have a documented record of all the payment transactions if you happen to have to file a dispute case.
Start by being familiar with china import export business so that you understand the intricacies from the trade. If required, undergo an import export business training curriculum or get a reputable import expert coach to teach you. Prevent businessmen from cheating you at first by looking for a reliable manufacturer or supplier. Use payment methods that are reliable and might protect from fraud. Even better, get yourself a reliable import export agent will 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 more visible on the internet and have communication tools including messaging and chat using Skype, Yahoo Messenger, GTalk as well as other tools where initial talks can be produced and requests for photos, information and quotations can be done. When communication generally is a problem with companies who do not possess English speaking staff or interpreters, getting an import export agent would prove useful. He will assure that complex issues is going to be understood and requests or commitments are clearly communicated both ways.
There has been several reports of recalls for items that are created in China, that can bring on the forefront of people’s minds that there is no guarantee of quality once you import products from China. Some big names in China’s import export business point out that the manufacturers usually are not wholly to blame while they just adhere to the specifications provided to them through the customers. To make certain that China importations are secure, importers should learn the protection compliance standards in the yiwwu market and communicate these exact specifications towards the manufacturer. It is additionally best to have a sample order first so the quality of the product’s quality and safety can be seen firsthand.
If in doubt, the next best course of action would be to get the help of yiwu market that will carry out the meet your needs and assist you in your small business transactions. Keeping all these things at heart is needed you ride the bandwagon on importing cheap products from China and make up a profitable import business.