Importing from China - Payment Terms?
Close
Login to Your Account
Page 1 of 3 123 LastLast
Results 1 to 20 of 43
  1. #1
    Join Date
    Aug 2002
    Location
    West Unity, Ohio
    Posts
    26,570
    Post Thanks / Like
    Likes (Given)
    6982
    Likes (Received)
    8940

    Default Importing from China - Payment Terms?

    What is the current status on payment terms for products coming from China?

    I was under the impression that they extended credit like the rest of us. Ass_u_ming that this was one of the ways that the Chinese Gov was backing the system, but I was just told that one particular outfit that a chum knows says that they need to pay in full before their container is placed on the boat.

    I know that _ that was SOP back in the 90's, but once China became part of the WTO in 2001, I thought that had changed.


    ???


    -----------------------

    Think Snow Eh!
    Ox

  2. #2
    Join Date
    Apr 2018
    Country
    UNITED STATES MINOR OUTLYING ISLANDS
    Posts
    5,233
    Post Thanks / Like
    Likes (Given)
    0
    Likes (Received)
    2327

    Default

    Quote Originally Posted by Ox View Post
    I was just told that one particular outfit that a chum knows says that they need to pay in full before their container is placed on the boat.

    I know that _ that was SOP back in the 90's, but once China became part of the WTO in 2001, I thought that had changed.
    WTO has nothing to do with it. It's all between the buyer and seller. Walmart gets different terms than Freddy's Shoes down the street. Works the same in the other direction, too.

    Every one we do has different arrangements.

    btw, US side is even worse. You should hear the screaming and crying we get from US machine tool dealers. Let me tell ya, those guys are idiots. For bigger stuff we use l/c's, for smaller stuff generally have to pay long before the truck even comes to pick it up, much less loads the container. And some people are scared of wire transfers -- "oooh, what if it's a craigslist scam ? Are you going to trick us somehow ?" Sheesh. That's on the US end.

    Gubmint has nothing to do with it. If anything, they get in the way as much as possible. It's a comforting feeling to know that some things are the same everywhere.

    So no, your friend's situation is not unusual. Caveat emptor and all that. Scary out there


    But anyhoo, won't have to worry about this much longer. With 38% retaliatory duties on everything we can just fold up our tent and go home. Hope you guys can find twelve million machinists and a whole lot of factories somewhere real quick. Like, by the end of next month when you start to run out.

    What's startup time for a factory in the US now, about eighteen years ? We were just laughing about this yesterday, they're building a subway in SF. Three blocks long. Been at it for five years now. You guys got your shit together ... pattycake pattycake, baker's man ...

  3. Likes adama liked this post
  4. #3
    Join Date
    Mar 2012
    Location
    Geilenkirchen, Germany
    Posts
    2,608
    Post Thanks / Like
    Likes (Given)
    1530
    Likes (Received)
    1323

    Default

    Quote Originally Posted by EmanuelGoldstein View Post
    WTO has nothing to do with it. It's all between the buyer and seller. Walmart gets different terms than Freddy's Shoes down the street. Works the same in the other direction, too.

    Every one we do has different arrangements.

    btw, US side is even worse. You should hear the screaming and crying we get from US machine tool dealers. Let me tell ya, those guys are idiots. For bigger stuff we use l/c's, for smaller stuff generally have to pay long before the truck even comes to pick it up, much less loads the container. And some people are scared of wire transfers -- "oooh, what if it's a craigslist scam ? Are you going to trick us somehow ?" Sheesh. That's on the US end.

    Gubmint has nothing to do with it. If anything, they get in the way as much as possible. It's a comforting feeling to know that some things are the same everywhere.

    So no, your friend's situation is not unusual. Caveat emptor and all that. Scary out there


    But anyhoo, won't have to worry about this much longer. With 38% retaliatory duties on everything we can just fold up our tent and go home. Hope you guys can find twelve million machinists and a whole lot of factories somewhere real quick. Like, by the end of next month when you start to run out.

    What's startup time for a factory in the US now, about eighteen years ? We were just laughing about this yesterday, they're building a subway in SF. Three blocks long. Been at it for five years now. You guys got your shit together ... pattycake pattycake, baker's man ...
    Pretty ballsy from a Brit. We won't spin up competitive industry overnight for sure, but the US will get it done. We have done it before and we'll do it again. There won't be a shortage of anything in reality. Everything will still be available, but at higher prices.

  5. #4
    Join Date
    Sep 2007
    Location
    Northern Illinois
    Posts
    2,983
    Post Thanks / Like
    Likes (Given)
    1628
    Likes (Received)
    1802

    Default

    Well, I see Thermite killed this thread right quick.

    Dennis

  6. Likes Mark Rand, slnielsen liked this post
  7. #5
    Join Date
    Oct 2005
    Country
    UNITED STATES
    State/Province
    Pennsylvania
    Posts
    18,881
    Post Thanks / Like

    Default

    Quote Originally Posted by Modelman View Post
    Well, I see Thermite killed this thread right quick.

    Dennis
    Uhm yeah....right.

    What ever you think is Okee Dokee with me.....

  8. #6
    Join Date
    May 2009
    Country
    UNITED STATES
    State/Province
    Wyoming
    Posts
    3,477
    Post Thanks / Like
    Likes (Given)
    8616
    Likes (Received)
    5651

    Default

    Quote Originally Posted by EmanuelGoldstein View Post
    We were just laughing about this yesterday, they're building a subway in SF. Three blocks long. Been at it for five years now. You guys got your shit together ...
    Obviously you're not from here or you would know California is not representative—or, rather, it's representative of the bloated public sector typical of Democrat-Socialist-run states. We laugh about San Francisco too. In fact, it's its own punch line.

  9. #7
    Join Date
    Apr 2018
    Country
    UNITED STATES MINOR OUTLYING ISLANDS
    Posts
    5,233
    Post Thanks / Like
    Likes (Given)
    0
    Likes (Received)
    2327

    Default

    Quote Originally Posted by Oldwrench View Post
    Obviously you're not from here or you would know California is not representative—or, rather, it's representative of the bloated public sector typical of Democrat-Socialist-run states. We laugh about San Francisco too. In fact, it's its own punch line.
    So you're laughing about Flint, too ? And all the red states that are broke without federal handouts ? You're full of shit. The whole damn country is worthless.

    p.s. The democrat-socialst government isn't building the subway. They paid a Private Sector contractor to do that. The <genuflect>Private Sector</genuflect> contractor has fucked it up all on their own several times, including putting in the wrong rail.

    Quote Originally Posted by steve-l View Post
    Pretty ballsy from a Brit. We won't spin up competitive industry overnight for sure, but the US will get it done. We have done it before and we'll do it again. There won't be a shortage of anything in reality. Everything will still be available, but at higher prices.
    Oh yeah right. The US couldn't find its ass with both hands in a dark room. What have you been smoking ? Got any in pill form ?

    p.s. In case it zoomed over your head, that was your grandfather who "got it done before." This is 2018, Rip. You're too lazy now to even pick your own damn vegetables.

  10. Likes Ox, ManualEd, cranium, Greg White liked this post
  11. #8
    Join Date
    Aug 2002
    Location
    West Unity, Ohio
    Posts
    26,570
    Post Thanks / Like
    Likes (Given)
    6982
    Likes (Received)
    8940

    Default

    Quote Originally Posted by EmanuelGoldstein View Post
    So you're laughing about Flint, too ? And all the red states that are broke without federal handouts ? You're full of shit. The whole damn country is worthless.

    p.s. The democrat-socialst government isn't building the subway. They paid a Private Sector contractor to do that. The <genuflect>Private Sector</genuflect> contractor has fucked it up all on their own several times, including putting in the wrong rail.


    Oh yeah right. The US couldn't find its ass with both hands in a dark room. What have you been smoking ? Got any in pill form ?

    p.s. In case it zoomed over your head, that was your grandfather who "got it done before." This is 2018, Rip. You're too lazy now to even pick your own damn vegetables.

    LOL!

    Sounds like a challenge eh?


    Wait 'till he reads about "The Big Dig"!


    ------------------------

    Think Snow Eh!
    Ox

  12. #9
    Join Date
    Mar 2011
    Location
    Denver, CO USA
    Posts
    10,214
    Post Thanks / Like
    Likes (Given)
    58
    Likes (Received)
    5698

    Default

    Quote Originally Posted by Ox View Post
    LOL!

    Sounds like a challenge eh?


    Wait 'till he reads about "The Big Dig"!


    ------------------------

    Think Snow Eh!
    Ox
    The big dig is a bike path compared to what China is doing.
    it’s not likeMass is a bastion of conservatives either.


    But never mind that.
    Terms are the buyers and sellers to set unless there’s an escrow service.
    If I were shipping from China right now you can be damn sure I’d want my money before it gone the boat. There are companies that can’t afford their product once it gets here because tarrifs went up during the trip.

  13. #10
    Join Date
    Aug 2002
    Location
    West Unity, Ohio
    Posts
    26,570
    Post Thanks / Like
    Likes (Given)
    6982
    Likes (Received)
    8940

    Default

    Quote Originally Posted by Miguels244 View Post
    The big dig is a bike path compared to what China is doing.
    ... and it's been going on for ?? 30 years ??? by now?


    -----------------

    Think Snow Eh!
    Ox

  14. #11
    Join Date
    Mar 2011
    Location
    Denver, CO USA
    Posts
    10,214
    Post Thanks / Like
    Likes (Given)
    58
    Likes (Received)
    5698

    Default

    Quote Originally Posted by Ox View Post
    ... and it's been going on for ?? 30 years ??? by now?


    -----------------

    Think Snow Eh!
    Ox
    They still have chunks falling out of the ceiling?

  15. #12
    Join Date
    Apr 2018
    Country
    UNITED STATES MINOR OUTLYING ISLANDS
    Posts
    5,233
    Post Thanks / Like
    Likes (Given)
    0
    Likes (Received)
    2327

    Default

    Quote Originally Posted by Ox View Post
    Wait 'till he reads about "The Big Dig"!
    Gotta love the safety handrails - They chop ! They slice ! They make julienne fries !

    The Bay Bridge is yet another winner ... I specially like the way they put it up crooked, then someone noticed it was warped so they ran a cable to the nearest mountain and bent it straight. Or mostly straight, I guess.

    Yeah, lookout world, the US is going to remake itself into a manufacturing powerhouse starting next month !

    Someone just had their first line of uncut blow, I think ...

  16. #13
    Join Date
    Sep 2011
    Country
    UNITED STATES
    State/Province
    Virginia
    Posts
    15,262
    Post Thanks / Like
    Likes (Given)
    7561
    Likes (Received)
    10500

    Default

    Quote Originally Posted by EmanuelGoldstein View Post
    Yeah, lookout world, the US is going to remake itself into a manufacturing powerhouse starting next month !
    "Be careful what you wish for, number EIGHT."

    Yer barely a rounding-error where the US and China compete.

    Sales Value of Total Manufactured Goods for the United States | FRED | St. Louis Fed

    UK Manufacturing Statistics

    Data from analysts Oxford Economics shows the fast-growing US economy first outstripped that of its former colonial power in the early 1890s, when Queen Victoria was Empress and Benjamin Harrison was American president.
    That quote was from a small-time outfit called "BBC", FWIW.

    An article now several years old, but it has been playing-out as expected:

    Made in China? - Global manufacturing

  17. #14
    Join Date
    Apr 2018
    Country
    UNITED STATES MINOR OUTLYING ISLANDS
    Posts
    5,233
    Post Thanks / Like
    Likes (Given)
    0
    Likes (Received)
    2327

    Default

    Quote Originally Posted by thermite View Post
    "Be careful what you wish for, number EIGHT."
    I am not a number. I am a free man.

    Yer barely a rounding-error where the US and China compete.
    The US doesn't compete with anyone. It's all a game of Monopoly between the fifty people who own the world. They don't compete either. They spend a Thursday evening moving the markers around for a fun way to pass the time before dinner.

    Sales Value of Total Manufactured Goods for the United States
    This might have some meaning if Ben Bernanke hadn't printed up fifty trillion pieces of paper. A dollar is now worth nine cents. The actual value of all that stuff is in fact about three baskets of apples and a box of Cheerios.

    Plus they add stocks and bonds and other financial fantasies into their gdp numbers. What a joke.

    All this shit is meaningless. Ignoring the looming menace of global warming for the moment, which country is healthier mentally ? That's what counts.

    Face it. The US is totally fucked up. China is a zoo but at least people here are, for the moment anyway, mostly sane.

    Made in China? - Global manufacturing
    These kinds of stories are interesting, and other people's views are also interesting, but what I see in every one of them is el-strangeo values. For instance, they act as if all this shit matters. Numbers here, numbers there, they think they can quantify everything. But in reality you can't quantify what you can't qualify and you can't qualify the quality of life. It's just numbers pulled out their ass.

    What's more, all their numbers can be shown to be meaningless. These people have been belittling Japan's "stagflation" for decades now. But when you look at real live video of Japanese people, things sure look okay. Nothing like Detroit or Compton. I talk to people who live there and they seem much happier than the average 'murrican, but according to economists it's desperate measures needed for desperate times.

    Alan Greenspan fed us cauldrons of pig shit for decades. He was the most revered economist in the most powerful country in the world. He was also an ignorant ass. It's hard to take 'economists' seriously after that experience. Kind of like false prophets, their words ring hollow.

    And then, and then, these people have the unmitigated gall to say shit like, "India’s IT-services sector shows what can be achieved, but it is high-skilled ... " How many of us have had the privilege of talking to Raj on the help line ? These Economist assholes talk to us with a straight face about the "high-skilled India tech industry" ? That's enough right there to discredit the writers, the paper, and their ancestors five generations back. Raj couldn't pour piss out of a boot with instructions written on the heel.

    Other platitudes we are immersed in include 'the only thing that is constant is change ! We must deal with it ! We must accept it !' Yeah well, tell that to ancient egypt that didn't change much for 6,000 years. North American Indians lived happily for thousands of years without fucking the place up. We trashed it in two hundred. Maybe 'change' wasn't that great a plan.

    The stuff they feed us as received truths is pretty much horse droppings if you look at it carefully. So I don't put much stock in that crap. I just listen to my experiences and accept that. At least as far as my own life goes, that seems to work out better.

    Again, in my own life, I've found about three competent people in the US over the past ten years. I'm not gonna shake in my boots over this Trump fiasco changing that situation. People can rant and rave and swagger all they like but does the word Nicopolis mean anything to you ? Or closer to our own time, the Eastern Front ? la Grande Armee ? or even pride goeth before a fall ?

  18. Likes steve-l, GM liked this post
  19. #15
    Join Date
    Sep 2011
    Country
    UNITED STATES
    State/Province
    Virginia
    Posts
    15,262
    Post Thanks / Like
    Likes (Given)
    7561
    Likes (Received)
    10500

    Default

    Quote Originally Posted by EmanuelGoldstein View Post
    I am not a number. I am a free man.
    So it appears. Very free. UK is still only ranked in eighth place, manufactured goods, tenth as to overall economy. The gap to the top players is a wide one, too.

    Might have been better-off had you stayed at least partially "in thrall" to common sense and situational awareness, yah? MOST Brits have done, and will-always. Wudda been wiped off the map several times over were it otherwise. See John Rouse Chard on keeping a cool head.

    "It's all FAKE?" Could was.

    Still and all, both the freezer's are well-stocked. Plenty of Diesel to-hand for the gen-set. I can still grow more food than I can eat, preserve it, make my own soap, antiseptics, vinegar, or a thousand other things and reload ammunition if I'd live to a hundred or so to use up the store-bought. I keep reloading dies to-hand, know how to make primer and propellants both. Prolly find a tool or three lying about here somewhere in the debris field.

    Ever heard that song "a country boy CAN survive"?

    Got a lot of "country boys" this side of the pond.

    Most have found all sorts of interesting high-tech or high-finance distractions to chase for fun or profit. Can't spend a whole 24 hours shagging, after all.

    Everybody's down to flippin' burgers?

    Ever notice the customers of a MickeyD outnumber the staff fifty or a hundred to one, any given business day? How many d'you suppose walked all the way there, and barefoot? Where d'you suppose they got the PRICE of "fries with that", let alone the motor vehicle and fuel?

    Generous Chinese DONATED all that stuff, no-charge? Germany is still shipping us Mercedes-Benz as "war reparations" from 1918? Or are they all getting PAID? I surely don't get my English ales or marmalade for "free".

    Sometimes, "free man"?

    Freedom's just another word for "nothing left to lose"
    Well... mought be clinging a mite too tightly to "bitterness" toward yer fellow man to lose it any time soon?

    Hope Brexit gets sorted for us. That's closer to-home than the ole "colonies", eh?

  20. Likes digger doug liked this post
  21. #16
    Join Date
    May 2010
    Country
    DENMARK
    Posts
    4,079
    Post Thanks / Like
    Likes (Given)
    4126
    Likes (Received)
    12881

    Default

    Quote Originally Posted by Ox View Post
    What is the current status on payment terms for products coming from China?

    I was under the impression that they extended credit like the rest of us. Ass_u_ming that this was one of the ways that the Chinese Gov was backing the system, but I was just told that one particular outfit that a chum knows says that they need to pay in full before their container is placed on the boat.

    I know that _ that was SOP back in the 90's, but once China became part of the WTO in 2001, I thought that had changed.

    Ox
    In this regard I don't think China is so different from most other countries. You don't buy or sell to the government. It's companies. My experience is that payment very much depends on trust. How well you know the customer or supplier is what counts.

  22. #17
    Join Date
    Apr 2018
    Country
    UNITED STATES MINOR OUTLYING ISLANDS
    Posts
    5,233
    Post Thanks / Like
    Likes (Given)
    0
    Likes (Received)
    2327

    Default

    Quote Originally Posted by thermite View Post
    Sometimes, "free man"?
    You certainly do miss a lot of references. Who is number one ?

  23. #18
    Join Date
    Sep 2011
    Country
    UNITED STATES
    State/Province
    Virginia
    Posts
    15,262
    Post Thanks / Like
    Likes (Given)
    7561
    Likes (Received)
    10500

    Default

    Quote Originally Posted by EmanuelGoldstein View Post
    You certainly do miss a lot of references. Who is number one ?
    I am.

    I suspect you'd say the same.

    Now.. we.... and rather more than "a few" others.. each and all have to figure out how to survive amongst the entire population of the planet who each think THEY are!

    Human nature to wish to survive and have one's downline prevail and prosper, yah?
    Humanity muddles along in that attempt, balancing as they must do. Been at it a while.

    China.. had ceased trading outright with the Americas more than once, already.

    First time they have records of started in the "Warring States" period and ended around 900 AD for about 300 years before resuming.

    By the late 1400's, another political change back home, and they stopped for another long spell. Officially, anyway.

    Take a longer view.

    All this s**t sorts itself out, eventually.

  24. #19
    Join Date
    Apr 2018
    Country
    UNITED STATES MINOR OUTLYING ISLANDS
    Posts
    5,233
    Post Thanks / Like
    Likes (Given)
    0
    Likes (Received)
    2327

    Default

    Quote Originally Posted by thermite View Post
    I am.
    Finally ...

    I suspect you'd say the same.
    No, I am Number Two ... I was Number Forty-Eight but them days is long gone ... dem bones dem bones dem dry bones

    numbertwo.jpg

    be seein' ya

  25. #20
    Join Date
    Mar 2012
    Location
    Geilenkirchen, Germany
    Posts
    2,608
    Post Thanks / Like
    Likes (Given)
    1530
    Likes (Received)
    1323

    Default

    Quote Originally Posted by Gordon B. Clarke View Post
    In this regard I don't think China is so different from most other countries. You don't buy or sell to the government. It's companies. My experience is that payment very much depends on trust. How well you know the customer or supplier is what counts.
    I guess you really believe that shit. Have you ever visited China? Have you done business with Chinese companies owned and controlled by the government in China? Please realize that there are many and most corporate management are members of the "party". In point of fact, companies in China are NOT like companies elsewhere.


Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •