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2019-12-12
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F.A.Q

 

1.What Does Letter Of Credit Mean ?

 

A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. In the event that the buyer is unable to make payment on the purchase, the bank will be required to cover the full or remaining amount of the purchase.

Investopedia explains Letter Of Credit.

Letters of credit are often used in international transactions to ensure that payment will be received. Due to the nature of international dealings including factors such as distance, differing laws in each country and difficulty in knowing each party personally, the use of letters of credit has become a very important aspect of international trade. The bank also acts on behalf of the buyer (holder of letter of credit) by ensuring that the supplier will not be paid until the bank receives a confirmation that the goods have been shipped.


2.What Does Telegraphic Transfer (T/T) ?

 

Prepayment or advance payment is a method of payment used in international or domestic transactions where the buyer pays the seller in advance before receiving goods or services. It is a very high-risk method for the importer and with almost no risk for the exporter. Usually an importer can pay the exporter by cash, T/T, Western Union or Money Gram or other payments that is agreed by both parties.

However, T/T is the most common payment method that requires the use of cable or telegraph to remit funds. No hard money transfer is involved in T/T. The order to pay is wired to an institutions’ cashier to make payment to a company or individual. Although telegraph is less in use these days, T/T is regarded as the most convenient means of completing a transaction.

 

3. Transfer and the cost of samples ?

★ Global Express Company FEDEX / DHL / UPS / TNT

★ New customers (Not place the actual orders yet,but has the intent to co-operate with us)

For new customers, when the customer has the require for samples, please inform us the details of the sample, including the style No., size, composition, etc., We will check and confirm if we have the sample in stock when received the request of samplethe from customer, After confirmation that the customer has to send us the details about global express account, the exactly address, contact person, telephone, fax and e-mail, etc. If the customer doesn't have the global express account that we will arrange the express but the cost by customer,If the quantity of samples less than 3 pieces that it will be free,If there has more than three pieces of the sample that the costs will pay by customers, the details of sample charge will be negotiates between customer and us.


★ Long-term Customers

(the actual order had placed or actual order under making or the customer will places order to us)

For long-term customers, we have own principle of the sample.that is,the charge of sample will be free for actual order, such as pre-production samples, confirm samples, shipping samples and so on, If the customers need to have a new design that maybe we will send the pictures by e-mail firstly,After selection by the customer we will arrange for the sample according to the required from customer, the charge of samples will be free but we have to know the global express account of the customer,the charge of express will be negotiates between customer and us.

 

4. Sample Produce

No matter the new and long-term customers, If need to develope the new collection according to customers request that we will arrange it accordingly.

★ The making time of develope sample as follows:

1-5 pcs                       within  15 days

5-20 pcs                     within  30 days

20-50 pcs                   within  45 days

More than 50 pcs         within  60-90 days

Above schedule is according to the received date of necessary information.

 

 

 

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