Nowadays you discover products created in China everywhere. Importing from China brings both excitement and fear to many people buyers. There is a chance of big earnings from a successful import business of selling products imported from China. Yet, there is the problem of transacting with all 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 were not secure. However, with all the recent expansion of chinese people businesses inside the yiwu market, many internationally acceptable payment choices are available today. In case the supplier requests for charge card payment, it could be advisable to channel it through third party processors like PayPal. Sensitive credit information will never be divulged on the sellers and also the buyers can order payment being withheld if you can find issues with the delivery or transaction. When the agreement is for bank transfer, the safest is always to transfer to some company checking account and never a private bank account.
There are additional international payment options like letter of credit (L/C) drawn at sight which is the most widely used, time L/C or bills of exchange. Each payment option includes their own advantages and risks. What is important is the fact that all the time have a documented record of all the payment transactions in case you must file a dispute case.
Start by being familiar with china import export business therefore you know the intricacies from the trade. If necessary, undergo an import export business training curriculum or get a reputable import expert coach to show you. Prevent businessmen from cheating you at the start by trying to find a reliable manufacturer or supplier. Use payment methods which can be reliable and might protect you from fraud. Better still, get yourself a reliable import export agent might be a big aid in negotiations.
Chinese manufacturers and suppliers have staffed themselves with English speaking sales representatives who can communicate efficiently. They are more visible on the internet and have communication tools like messaging and chat using Skype, Yahoo Messenger, GTalk along with other tools where initial talks can be produced and requests for photos, information and quotations can be carried out. When communication might be a problem with companies who do not have English speaking staff or interpreters, getting an import export agent would prove useful. He will ensure that complex issues will likely be understood and requests or commitments are clearly communicated both ways.
There has been several reports of recalls for products that are produced in China, that can bring for the forefront of people’s minds that there is no guarantee of quality whenever you import products from China. Some big names in China’s import export business claim that the makers usually are not wholly to blame because they just follow the specifications given to them through the customers. To make certain that China importations are secure, importers should discover the security compliance standards of the yiwwu market and communicate these exact specifications towards the manufacturer. Additionally it is best to get a sample order first so the grade of the product’s quality and safety can be seen firsthand.
If unsure, the following best thing to do is usually to get the help of yiwu market who will do the work for you and assist you in your small business transactions. Keeping all of these things at heart is needed you ride the bandwagon on importing cheap products from China and make up a profitable import business.