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Want to pay for goods only after you' ve received them?---Alibaba.com's E-credit Card can start soucring on credit now! 54 replies,15075 views

#1

One of our Alibaba.Com's E-Credit Card holders is a Russian trading company. Having Dubai as its selling center, it purchases goods from China, and sells them to the countries neighboring Dubai.

The purchase Russian trading company and its Chinese supplier were negotiating was for anti-static safety shoes. The purchase amount came to more than US $60,000.

When our representative Julia first contacted with Valery, the manager of the Russian trading company, he showed great enthusiasm for the way Alibaba.com’s E-credit Card worked and soon they started to talk on Skype. Julia introduced Valery to the detailed procedure of how Shenzhen OneTouch Business Service LTD, a subsidiary of Alibaba, works, step by step, including the cost of financing, and the various important pieces of information Valery should know before trading.

In the following negotiations between Valery and the Chinese supplier, they encountered some common problems that occur in the Chinese market:

1. When Julia first contacted the supplier, they hesitated because they could not have the 20% payment immediately after shipment. Julia noticed that even though Valery has an approval of OA 180 days, if she could compromise to deal with OA 90 days, she could not only save the daily interest on the financing amount, but also help with the supplier’s cash flow, and therefore, increase the trust between the two parties. After negotiation, both parties agreed to accept Julia’s suggestion.

2. Early payment of insurance premiums and daily interest on financing caused some other debates. Valery could not accept paying for such an amount before financing. After negotiation, the both parties agreed to have Valery pay the premiums before financing, and the daily interest will be deducted from the financing amount given to the supplier.

Valery was very pleased with our service and the way E-credit Card works. Accepting only T/T was an important factor why he cannot place big orders with Chinese suppliers. But now, he would be able to have his annual sales doubled.

In order to further increase Valery’s profit margin, according to her company’s actual situation, Julia suggested Valery apply for a new credit card, in the name of his Dubai branch. That way he could save a lot on insurance premiums (according to SINO insurance, Russia is in range D1 and Dubai is in Range B1). Taking Julia’s suggestion, Valery applied for another credit card and got approved for US $2,000,000, which means Valery is now able to place more orders with Shenzhen OneTouch Business Service LTD, and Chinese suppliers.

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#2
Alibaba.coms E-credit Card - solving the problem of purchasing on credit in China.

One day in September 2012, an urgent call from Miss Liang, a manager of a Foshan supplier, was received by Miss Wu, one of our customer service representatives at Shenzhen OneTouch Business Service LTD, a subsidiary of Alibaba.Miss Wu was surprised, because Miss Liang told her that she had a friend who was running a trading company, and, even though they were asking for a much higher service fee than Shenzhen OneTouch, Miss Liang felt compelled to work with her friend. But now Miss Liang was calling, saying she wanted to sign the contracts.

After some discussion, Miss Wu finally found out that it was all because of Alibaba.com’s E-credit Card, which was jointly launched by Shenzhen OneTouch, Bank of China, and China Export and Credit Insurance Corporation, to serve overseas buyers who want to purchase on credit in China. Miss Liang has been negotiating with a Vietnamese purchaser for more than 2 years. However, they could not proceed because of a disagreement regarding payment methods. The Vietnamese company can only pay with OA, but Miss Liang’s company was too small to accept it. For a lot of small companies in China, the upfront payment from buyers is the only source of financing for the production of goods.

However, this Vietnamese company contacted Miss Liang a few days ago, saying that they were willing to place an order because they discovered a new payment method that could satisfy both their needs. Through Alibaba.com’s E-credit Card, Alibaba.com advanced 80% of the amount payable to Miss Liang’s company. That way Miss Liang’s company could collect most of the payment very soon after shipment and the Vietnamese company could trade using their usual payment method, OA. Therefore, Miss Liang finally decided to work with Shenzhen OneTouch and sign the contracts.

#3
How to use

Online Application

There are two ways to apply for E-credit Cards:

1) Online Application

2) Offline Application

For an offline application, please mail your application form and other supporting documents to the following address:

SHENZHEN ONE-TOUCH BUSINESS SERVICE LIMITED

Rm.709-715. Shun Hing Square, Di Wang Commercial Centre,5002 Shennan Road East, Shenzhen, China P.C:518008

Tel: +86 0755-25560122-8

Fax: +86 0755-2583 0475

Supplier Agreement
Once your application has been approved, please submit your supplier’s information as per instructions contained in the notification email sent to you. Our representative will contact your supplier and commence the acceptance procedures to see if they meet the following requirements:

#4
How to use

1. Your supplier is in our service area and our accepted industries;

PROHIBITED PRODUCT: SILVER PRODUCTS; FLOSS AND TEXTILES; ELECTRICAL APPLIANCES; METALS;  CPUs;  PLASTIC SHOES; TEXTILES; FLASHLIGHTS; CHARGERS; LOW PRICE ELECTRICAL PRODUCTS; WOODWORK; CELLPHONES; LAPTOPS; TABLET PCS  

PROHIBITED AREA: HENAN; YICHUN; WANZAI; JIUYANG; YIYANG; CHAOSHAN Region; HUIZHOU  HUIDONG  PEARL RIVER DELTA REGION; 
   
2. Your supplier must be operating a legal entity;
3. Your supplier has to clear customs and collect payment via Alibaba OneTouch;
Your supplier has to negotiate its logistics services with Alibaba OneTouch.

Sign Contracts

After your Chinese supplier has been accepted, your Chinese supplier, you and Alibaba.com have to sign certain contracts to define each party’s duties and responsibilities.

With you, we will sign:

A Tripartite Supply Co operation Agreement – Defines each party’s responsibilities throughout the trade;

A Sales Contract – Defines the commercial relationship between you, the buyer and Shenzhen OneTouch Business Service LTD, a subsidiary of Alibaba;

A Confirmation Letter – Confirmation that you will not raise any objections regarding the product’s delivery and quality.

#5
How to use

Shipment
Using Shenzhen OneTouch Business Service LTD logistics and other export-related services, we will collect receipts immediately after shipment. As per your Confirmation Letter, we will finance you for three days after shipment.

Financing


For a credit limit of US $30,000:

 At any time, the OA term for trading cannot be longer than the OA term approved by Alibaba.com;

The financing ratio will not exceed 80% of the amount payable

For credit limit of more than US $100,000:

For existing card holders:

At any time, the OA term for trading cannot be longer than the OA term approved by Alibaba.com; the financing ratio for each trade will not exceed

•80% of the amount payable
•30% of the credit limit
•US $150,000


For new card holders:

At any time, the OA term for trading cannot be longer than the OA term approved by Alibaba.com; the financing ratio for each trade will not exceed

•80% of the amount payable
•30% of the credit limit
•US $150,000
Accumulatively 50% of the credit limit until your first return of full amount l

Repayment
Before the credit term is due, you must pay the full amount payable to the designated account at Alibaba.com. After receiving the full amount, we will deduct the advanced capital and other relevant expenses. The rest of the payment will be transferred to your Chinese supplier.

In the case of failure to repay in time, you need to notify Shenzhen OneTouch Business Service LTD, a subsidiary of Alibaba, and the supplier, as well as apply for an extension in advance. The extension cannot be for more than 20 days.

After 20 days:

•You will be charged a penalty interest of 0.06% per day for the financing amount;
•Your card will be frozen;
•Alibaba.com will activate legal procedures for debt recovery;
•Your card will be valid again only if you cooperate during the debt recovery.

#6
Reply #
E-credit Card wrote:

1. Q: How can Alibaba.com issue credit cards to purchasers?

    A: Alibaba.com’s E-credit Card has been jointly launched by Alibaba.com, Bank of China and Sinosure. Bank of China and Sinosure are government agencies in China. Relying on the solid capital support of Bank of China and the strong capability in claim settlement of Sinosure, Alibaba.com launched the Alibaba.com’s E-credit Card after one year of preparation, in a commitment to solving the practical problems between international trade parties in the demand for capital.

2. Q: How long is this credit card valid for?

    A: It will be valid for one year.

3. Q: After my credit limit is approved, how should I communicate with my supplier?

    A: Before you apply for the Alibaba.com’s E-credit Card, we suggest you discuss with your supplier about using this payment method. Once you get our approval e-mail, you can either 1) click on the link in that e-mail to submit your supplier’s information or 2) ask your supplier to contact us so that we can inform them of the detailed procedures.

4. Q: How do you assess and approve suppliers?

    A: We will review the production capacity and the business background of the suppliers. They have to provide us with their business licenses, tax registration certificates, previous invoices and other supporting documents.

5. Q: How do the suppliers contact Alibaba.com?

    A: Please refer to CONTACT US on http://credit.alibaba.com. You can ask the supplier to contact us according to the information on the website. Or, you can submit the contact details of your supplier after your E-credit Card is approved. We will contact your supplier immediately.

6. Q: Can the financing be made earlier if my supplier has delivered the goods via your company?

    A: We can only make finance available to you after shipment. The purchaser must sign the Confirmation Letter before financing can proceed.

7. Q: We want Alibaba.com to help pay for the goods, but must we have your company assist us in making a declaration to Customs for export?

    A: Yes, the precondition of our financing is that the goods corresponding to your financing order must be facilitated via Alibaba OneTouch (a subsidiary of Alibaba) so that we can ensure the trade quality of the transaction.

8. Q: What if I want to request a higher limit in the future? How do I change the limit?

    A: The credit card limit approved by Alibaba.com cannot be changed in the short term. If you request a higher limit, please provide evidence of a good transaction record and then submit an application to Alibaba.com. We will review your transaction records and credit ratings and then adjust the limit accordingly. Your ability to repay is, of course, crucial to any decision related to limit increase.

SIGNATURE:
About Our Company

Fashion sports goods club
Sports goods/ Football/basketball/golf/clothing/shoes/hometown specialty wholesale sales,Honest supplier. More

#7
Reply #
E-credit Card wrote:

Shipment
Using Shenzhen OneTouch Business Service LTD logistics and other export-related services, we will collect receipts immediately after shipment. As per your Confirmation Letter, we will finance you for three days after shipment.

Financing


For a credit limit of US $30,000:

 At any time, the OA term for trading cannot be longer than the OA term approved by Alibaba.com;

The financing ratio will not exceed 80% of the amount payable

For credit limit of more than US $100,000:

For existing card holders:

At any time, the OA term for trading cannot be longer than the OA term approved by Alibaba.com; the financing ratio for each trade will not exceed

•80% of the amount payable
•30% of the credit limit
•US $150,000


For new card holders:

At any time, the OA term for trading cannot be longer than the OA term approved by Alibaba.com; the financing ratio for each trade will not exceed

•80% of the amount payable
•30% of the credit limit
•US $150,000
Accumulatively 50% of the credit limit until your first return of full amount l

Repayment
Before the credit term is due, you must pay the full amount payable to the designated account at Alibaba.com. After receiving the full amount, we will deduct the advanced capital and other relevant expenses. The rest of the payment will be transferred to your Chinese supplier.

In the case of failure to repay in time, you need to notify Shenzhen OneTouch Business Service LTD, a subsidiary of Alibaba, and the supplier, as well as apply for an extension in advance. The extension cannot be for more than 20 days.

After 20 days:

•You will be charged a penalty interest of 0.06% per day for the financing amount;
•Your card will be frozen;
•Alibaba.com will activate legal procedures for debt recovery;
•Your card will be valid again only if you cooperate during the debt recovery.

#8
Reply #
As much ill love to enter for the E credit my country is not allowed to partake,each time I want to buy goods its either the supplier doesn't answer or they. Want to chat pivatly with thru other means apart from alibaba,if alibaba can hv a transaction card that can be sent to me ill pay into it$use it on alibaba.com only...
#9
Reply #
hello I would like to sign up for your online application for Alibaba.com's E-credit card
#10
Reply # 9 wawakisteelroofing

Thanks for your interest, Tom. Let us talk details by trade manager.

#11
Reply # 8 ashatgold
it is great for your support. Olanrewaju. Hope Alibaba.com's E-credit card will be helpful for your business, please contact us by trade manager or email credit@service.alibaba.com

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