Just to share my recent experience with my Alibabers . Begining of August, my friend refered a big order to me (500,000pcs cap order for F1). I was so excited until I realize this company is not going to give me any deposit.

Their reason is they have bad experience before - They paid deposit to their supplier and their supplier asked for higher price during production. This is totally B.S to me. This company is so big, I don't think they do not sign any contract before they work with their supplier. And also I don't think they do not see any sample before they place order. Once the sample is confirmed and once the contract is signed, no supplier can ask for higher price then.

Anyway, I rushed some samples and gave this company the best possible price + shortest delivery I ever offered. After many emails and phone calls negotiation in few nights, I've got the order. But the catch is either no deposit or L/C 10days (with all shipments by air). I'm not sure if I was vulnerable due to so many late night calls and follow up, I "agreed" with no deposit and I even sent a proforma invoice to them.

Right after I sent the PI, I begin to worry what if this company cancel the order as soon as material are purchased? What if this company went bankrupt? What if F.Massa recovered and come back to race? What if MS have disagreement with Ferrari? What if this company don't pay after I ship the goods?There were so many "what if" and while I scare myself to death, they cancelled the order. Due to MS have his own reason for not competing in F1 any more.

I was so relieved!!!! As that was the major factor I scare myself to death. And from that day onward, I swear to myself not to accept order without deposit any more in my life. As I still remember my nerves were twitching the whole night since I sent the PI. And I think the cost for tonic would be more than the profit I may get from this order.

I also find out insurance company do not insure the deal after the contract is signed. I feel so naive and lucky the same time.

So, do not ever accept any order without deposit whatever the buyer say. Lose an order is always better than lose your life time saving (as well as your face).

Pandora wrote:

Just to share my recent experience with my Alibabers . Begining of August, my friend refered a big order to me (500,000pcs cap order for F1). I was so excited until I realize this company is not going to give me any deposit.

Their reason is they have bad experience before - They paid deposit to their supplier and their supplier asked for higher price during production. This is totally B.S to me. This company is so big, I don't think they do not sign any contract before they work with their supplier. And also I don't think they do not see any sample before they place order. Once the sample is confirmed and once the contract is signed, no supplier can ask for higher price then.

Anyway, I rushed some samples and gave this company the best possible price + shortest delivery I ever offered. After many emails and phone calls negotiation in few nights, I've got the order. But the catch is either no deposit or L/C 10days (with all shipments by air). I'm not sure if I was vulnerable due to so many late night calls and follow up, I "agreed" with no deposit and I even sent a proforma invoice to them.

Right after I sent the PI, I begin to worry what if this company cancel the order as soon as material are purchased? What if this company went bankrupt? What if F.Massa recovered and come back to race? What if MS have disagreement with Ferrari? What if this company don't pay after I ship the goods?There were so many "what if" and while I scare myself to death, they cancelled the order. Due to MS have his own reason for not competing in F1 any more.

I was so relieved!!!! As that was the major factor I scare myself to death. And from that day onward, I swear to myself not to accept order without deposit any more in my life. As I still remember my nerves were twitching the whole night since I sent the PI. And I think the cost for tonic would be more than the profit I may get from this order.

I also find out insurance company do not insure the deal after the contract is signed. I feel so naive and lucky the same time.

So, do not ever accept any order without deposit whatever the buyer say. Lose an order is always better than lose your life time saving (as well as your face).

And I think the cost for tonic would be more than the profit I may get from this order.

Pandora wrote:

Just to share my recent experience with my Alibabers . Begining of August, my friend refered a big order to me (500,000pcs cap order for F1). I was so excited until I realize this company is not going to give me any deposit.

Their reason is they have bad experience before - They paid deposit to their supplier and their supplier asked for higher price during production. This is totally B.S to me. This company is so big, I don't think they do not sign any contract before they work with their supplier. And also I don't think they do not see any sample before they place order. Once the sample is confirmed and once the contract is signed, no supplier can ask for higher price then.

Anyway, I rushed some samples and gave this company the best possible price + shortest delivery I ever offered. After many emails and phone calls negotiation in few nights, I've got the order. But the catch is either no deposit or L/C 10days (with all shipments by air). I'm not sure if I was vulnerable due to so many late night calls and follow up, I "agreed" with no deposit and I even sent a proforma invoice to them.

Right after I sent the PI, I begin to worry what if this company cancel the order as soon as material are purchased? What if this company went bankrupt? What if F.Massa recovered and come back to race? What if MS have disagreement with Ferrari? What if this company don't pay after I ship the goods?There were so many "what if" and while I scare myself to death, they cancelled the order. Due to MS have his own reason for not competing in F1 any more.

I was so relieved!!!! As that was the major factor I scare myself to death. And from that day onward, I swear to myself not to accept order without deposit any more in my life. As I still remember my nerves were twitching the whole night since I sent the PI. And I think the cost for tonic would be more than the profit I may get from this order.

I also find out insurance company do not insure the deal after the contract is signed. I feel so naive and lucky the same time.

So, do not ever accept any order without deposit whatever the buyer say. Lose an order is always better than lose your life time saving (as well as your face).

I agree no deposid no order and you fil good.Before the person have trust no more today.

Agree with you !
if the buyer didn't have deposit to suppliers.we will not accept also.
if they cancel the order at any time.
can you cover the lost ? who will taking the goods ?
the lost are ours .. not customer.
so we should insist on the deposit ..

I agree with you.I also hace experience that is similar with you .My customer is Russian.

He agree pay me the cost for the machine when i attend the fair in Moscow.But when I ship the machine to Moscow he told me he change his idea.Even 5 days before the fair he told me he will pay the price that we talk baout.

I hate him.But I  am lucky .There is another customer bought the machine fianlly.

We do not like the customer that they do not keep their words.It is cheating.

NO MONEY NO ORDER

I agree.. we need to have some sort of deposit from the importer to show that he is commited towards the order and will not backout..

Importers must understand that they can not do business on our bank borrowed capital...

Yes with me too,i need the money for deposit,how to take that order if no money....?
for more information of my jewelry please visit at www.malioborotrading.com

umas wrote:

Importers must understand that they can not do business on our bank borrowed capital...

Welcome to the world of dealing with western retailers!!!

You are right. But If you talk with the buyer who see your company and discuss too much and you also know this is a really big buyer. I think you need to try. Business is also go with the risk.