A T/T payment is a common way to pay Chinese suppliers, but what is this payment type, how to make one, and what FAQs do importers have about the process? In addition, when you're ready to pay a supplier, what kinds of payment terms might you negotiate with them? Follow this link to download these slides for yourself. … [Read more...]
Sourcing From China 101, Part 6: How To Keep Leverage Over Suppliers
Up until now, I have explained how to find a good supplier and what terms to negotiate from the get-go. But this is not enough. Buyers who are new to China often make a mistake: they trust their suppliers too much. How to keep leverage over suppliers? China is a dog-eat-dog environment. You can’t trust a company simply because you have checked and qualified them. You need to structure your deals in such a way that you keep some power over your supplier and do not become financially … [Read more...]