My company Sofeast, can probably help you.This FREE eBook starts from the beginning, discussing whether you need to hire a sourcing agent, and follows the sourcing process right through to developing a trusted supplier’s quality and productivity.There are 15 chapters over 80+ pages to explore, providing exhaustive guidance on the entire sourcing and supplier development process from start to finish, including:I am learning about another alternative called “Escrow” payments, such as what Alibaba.com offers. how do I go about doing that? The sellers have no incentive to not send your goods. how do I go about doing that?Can you contact me with these details also? Many buyers have been I shot a short video that shows how to fill out a T/T application form:After you have done this, take a screenshot, or get a digital copy, and send it to your supplier.It is quite similar, except for the end of the process.Can you negotiate this term? Telegraphic transfers are used most commonly in … It typically takes 3-5 working days to clear, and generally costs between 25 and 50 USD, depending on your agreement with the commercial department in your bank.Contact the commercial department of your bank, tell them you need to wire (for example) 25,000 USD to a company in China, and they will generally give you a form to fill out.
If possible, get all the information about that supplier, their product price, and so on.In that case, you can usually negotiate the amount to pay at the time of that purchase. The whole SWIFT system is a bit clunky. If you pay them by telegraphic transfer, what I wrote above in this article applies.Both are usually fine (up to negotiation between you and them). A telegraphic transfer (TT) is an electronic method of transferring funds utilized primarily for overseas wire transactions. Associated fees to complete the transfer are not standardized across all institutions and can thus vary dramatically from one institution to the next. These transfers are used most commonly in reference to Similar requirements are required between business entities, but the identifiable information relates to the business instead of the individual. Thank you in advance.If the supplier says they are a manufacturer, my company can audit their factory — contact me at ra[at]sofeast.com.If the supplier says they are an agent but they will sell the goods themselves to you, you can use the services at If you need to check the products before shipment, again my company can help and you should contact me.I too want to find out if a chinese supplier is legit.
There are plenty of reasons you might want to make a payment electronically - maybe you want to make a remittance home to support a friend or family member, you need to pay an international invoice for a supplier for your business, or you simply want to make a TT bank payment to move your own money from one account to another. Quality Assurance, Product Development, and Purchasing Strategies in ChinaIt's easy to subscribe to our newsletter where you'll receive weekly updates for professional importers and manufacturers on better understanding, controlling, and improving manufacturing & supply chain in China.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? +86-159-64983783 really work for this company.Whether you found them on Alibaba, Global Sources, Made In China, or other similar directories, doesn’t change anything. They operate on a feedback system much as ebay and has a buyer protection clause that so far has worked ok for me but is not foolproof. In addition, when you’re ready to pay a supplier, what kinds of payment terms might you negotiate with them?T/T payment stands for ‘Telegraphic Transfer.’ In other words, an international wire of funds from the buyer’s bank to the seller’s bank.When a Chinese supplier asks for a T/T payment, what they really mean is they want a wire transfer. Nacha is one of the two major ACH networks in the U.S. connecting financial institutions and payments platforms for electronic transactions and clearing. An international bank account number (IBAN) is a standard numbering system, developed to identify bank accounts from around the world. Telegraphic Transfer (TT) is an efficient and secure way of sending electronic payments for over 100 remittance currencies to your beneficiaries overseas.
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