Here I want to expplained why so many companies want T/T payment in China.

There maybe many buyers are tired of T/T payment are beware for Scammed.That sounds T/T payment with 30% deposit and balance upon receiped copied B/L are pushed all risk to buyers. Exactelly, NO. I have learned many suppliers do business with that style are also Scammed.

1. under FOB term transaction. The freight company are contacted by buyers. But  there are many perchasing compaies got products even without original B/L but copied one is OK.How can the suppliers do if this happens.

2. The purchasing company are delayed/or declined  to pay the balance that may coursed, the customer selling this products with reducted price. And that guy, I meaned the purchaser buy them at this price.

It is obviously that Scammers exsit all over the world.However. I am sure that the suspended one is much more than scammers.So Please do not say " I like T/T from Chinese suppliers and do not like T/T from outside China" It is OK all the payment term even by WU if the supplier/Buyer is reputed..

Hey dude,

your post very hard to understand today, I have to read it three times before I get it. It's all very dodgy. The risk is borned by the buyer because once you pay, that's it, you never see you money again and tyou wait and weait till the goods arrive and if it's wrong, you are stuffed.

Quoting from [jadedev]:

Hey dude,

your post very hard to understand today, I have to read it three times before I get it. It's all very dodgy. The risk is borned by the buyer because once you pay, that's it, you never see you money again and tyou wait and weait till the goods arrive and if it's wrong, you are stuffed.

Hey Dude,

What you  mentioned was RISK as Buyer. As a supplier, There also many risks.For example, If I send Duck to  you  for paying 30%, and balance after 7 days of receipt copied B/L,While the products arrived at Australia for more than 7 days, And you do not want to pay the balance for some excuse of financial problems.OK. But the customer will not wait for your paying.They sell them with reducted price(You know there will be a lot of demurrage charge and the Customer has right to do that) And then. You, As a buyer to buy them at an cheaper price. 

 

I have a contact want do business as term D/P 90 days,Can you image this? USD dropped rapidly and I declined.

What I posted is to tell both buyers and suppliers DO not doing business with suspended company.

For small order it's diffcult to hedge.

For big orders, you can buy hedging tools to help protect against currency fluctuation, cost about 1-2%

Alternatively, agree with the customer. You quote in RMB and let the customer pay in RMB.

Quoting from [jadedev]:

For small order it's diffcult to hedge.

For big orders, you can buy hedging tools to help protect against currency fluctuation, cost about 1-2%

Alternatively, agree with the customer. You quote in RMB and let the customer pay in RMB.

Can customer pay in RMB? But most of Chinese goods when export, they can get tax refund, if you pay RMB, they will not get this. That will make them lost lots of money but still have to pen the tax bill (that is pay tax himself but not refund).

No one will agree to do like this.

Quoting from [rolexknife96]:

Here I want to expplained why so many companies want T/T payment in China.

 

Actually, it's reasonable.   so need more understanding between the supplier and buyer.

Quoting from [rolexknife96]:

Do you use the rolex knife to cut peoples pocket and justify something unheard of in business circles.


It a policy never to get personal on post but your are asking for such a deal. If the manufacturer is reputed and does his homework about his buyer and gets the necessary legal formalities done then the TT route should and will never be a hinderance and do not justify shortcuts for the cheats that exist. Noone in his right senses would contemplate on dealing with a foreign entity on anything less.


As Buyers have to do due dilegence on their suppliers its the prime duty of the supplier to do his due diligence and just the greed of getting business must not make him lower his guard.


If the buyer takes care to see and search for all details of the supplier then he would not have to worry about frauds.


You are suspect in my eyes because you are actually advocating WU the easiest way of getting conned. Please be careful and know the consequences of trying to lure gullible people online. there are enough sharks already .