Importing from China - Payment Terms? - Page 3
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  1. #41
    Join Date
    Sep 2011
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    Quote Originally Posted by EmanuelGoldstein View Post
    I'm not going to engage with the pig
    Love 'em and leave 'em, eh? What a cad.

    No fear. She'll find a better mate.

  2. #42
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    Jan 2019
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    Hi, I didn't read enough posts to know if someone answered but 30% down payment so they can go buy material with 70% due upon release of documents (which means before the ship lands at port) is pretty standard. Some will extend those terms a bit once you've established trust and a long term business relationship. Just need to be careful on who you do business with, 100% payment to a company that could end of delivering crap parts is risky. We do face to face meetings and have an in country person to keep them honest.

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  4. #43
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    Apr 2018
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    Quote Originally Posted by mrsshoots View Post
    Hi, I didn't read enough posts to know if someone answered but 30% down payment so they can go buy material with 70% due upon release of documents (which means before the ship lands at port) is pretty standard.
    That's called a letter of credit, standard operating procedure, safe for both sides, and also pretty sure it was mentioned on page one.

    The only drawback is, on a small order the fees and charges make it a large extra cost (percentage-wise). And it takes about three weeks to collect from the seller's local bank. No biggy on a $500,000 sale but for fifteen grand, pita.


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