This hardline attitude can be misinterpreted, so it must be presented with extreme politeness. Havingfound the ideal product after a lot of searching, many new importers choose to yield without protest andpay the deposit upfront.It is important to keep faith regarding order quantities if you expect them to accept your terms. If at thebeginning you said you would buy 1,000 pcs, you must order 1,000 pcs, or your credibility disappears.The situation is different if the order is for a new product. In that case you might have to accept theirterms of a pre-production deposit, although I never did.The most common payment methods requested by suppliers are. Wire Transfer (T/T), Letter of Credit(L/C), and video matrix review . International drafts issued by companies such as American Express, WellsFargo, or Western Union, and sent to your supplier via airmail or courier will usually cost less than aTelegraphic Transfer (T/T), through your bank. Sometimes these drafts are available at post offices,otherwise at money transfer locations – often a simple shop front. Bear in mind that there will be delays
due to airmail transit time. You may be surprised to find how slow and relatively unreliable that can bewhen the destination is China. Sometimes the draft is not delivered if you use the postal service. Acourier service will usually be far more reliable, although more expensive.You must ask your supplier if they will accept payment by your preferred method. Do not just go aheadwith the payment, as they may bill you for their expenses in clearing the payment through their bank.Wire transfers may cost more, but they do avoid delay. But beware of suppliers who require paymentby money transfer through agencies such as Western Union.
Never send payment to a destination other than the video matrix review you have been communicating with.
Never send payment to a company name different to the one you have been in contact with, unless youare certain it is part of the same business group.
Almost Never make a payment by any method to a personal account. Payment must always go to thecompany name or you will lose your money, unless you know for certain that the person is the owner ofthe business. Even then there is a risk.
NOTE: Although the correct banking term is “International Money Transfers,” Chinese companies stillmostly call them T/Ts. Some people call these Wire Transfers, but that is not a commonly used term indealing with Chinese businesses. With bank fees being so high, paying in two hits can add considerablyto the cost of your order. For this reason, you may give preference to a supplier who accepts PayPal orcredit cards, but (although growing in number), there are still relatively few that will do that. Those withan office in Hong Kong are far more likely to have those facilities. With this in mind I suggest that asmall order paid for in full in advance may be worth the risk. I would never pay in advance for a largeorder.The safest payment methods are either Letter of Credit (L/C) or Escrow. These methods can be
expensive options if you are paying small amounts. Many banks will decline to issue an L/C for lessthan $100,000, but it could be worth asking your bank. If they won’t handle smaller transactions, Isuggest you tell suppliers that you want to use video matrix reviewand that you will pay the escrow fee.Many will say no, largely because they don't know www.escrow.com, so you will need to show themdetails of that company's financial registrations in various states of the USA. This can be found on theirwebsite.
Escrow.com's fees are very high for very small transactions, but a lot lower when the transaction is for$1,000 or more. There is an online calculator on their site but just to give you some idea, here is whattheir escrow protection will cost you, including a flat rate service fee of $25.