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    1. abrd10 is offline

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      #1

      Newbie Looking to Start Importing from Foreign Countries - How to Deal with Foreign Suppliers?

      Hello all,

      I am a newbie and have below questions.

      (a) How do I know the current wholesale price of a commodity for example, jasmine oil or spirulina or cardamom? Are there any publications, I can subscribe to or a website I can look up? Do customs have any database to look up?
      (b) If I am planning to import from a foreign country like China, can I pay my supplier only upon the material being accepted by the customer? Is there a specific payment type for this?
      (c) How can I return the material to the foreign supplier, if the customer did not like it or buy due to whatever reason?
      (d) Generally a client places the order based on samples from a supplier.
      Later on when the actual delivery is made, if the quality is not same and customer rejects it, what is the recourse?
      Can I return the material back to the supplier?
      Any customs issues?
      Any additional fines/costs?
      Anything else I need to know in this situation.?
      How to handle this type of situation?

      (e) How can I force, supplier to pay my money back upon receipt of his returned/rejected material?
      Is there any specific payment type that can ensure this?

      Thanks for your valuable advice.

      Regards,
      abrd
      Over 150,000 Verified Sources + Deals 95% Off MSRP + Free Website!

    2. experience is offline

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      #2
      Hi Abrd,

      You wrote as below, but I have added subsection numbers to your question (e) to simplify answers:
      I am a newbie and have below questions.

      (a) How do I know the current wholesale price of a commodity for example, jasmine oil or spirulina or cardamom? Are there any publications, I can subscribe to or a website I can look up? Do customs have any database to look up?
      (b) If I am planning to import from a foreign country like China, can I pay my supplier only upon the material being accepted by the customer? Is there a specific payment type for this?
      (c) How can I return the material to the foreign supplier, if the customer did not like it or buy due to whatever reason?
      (d) Generally a client places the order based on samples from a supplier.
      Later on when the actual delivery is made, if the quality is not same and customer rejects it, what is the recourse?
      i)Can I return the material back to the supplier?
      ii)Any customs issues?
      iii)Any additional fines/costs?
      iv)Anything else I need to know in this situation.?
      v)How to handle this type of situation?

      (e) How can I force, supplier to pay my money back upon receipt of his returned/rejected material?
      Is there any specific payment type that can ensure this?

      Thanks for your valuable advice.

      Regards,
      abrd


      1. Your questions (b) and (c) lead me to think that you are planning on acting as an agent for overseas suppliers.
      2. Your questions (a), (d), and (e) suggest that you are thinking of buying, importing and then reselling on your own account.

      These very different business types require very different knowledge, as well as very different investment amounts.

      If 1. is correct, then it is clear that you will not succeed without learning how to carry on a business as an indent agent.

      I suspect however that your intention is 2., in which case my answers would be as follows:
      a) Commodity trading is a specialized field and without experience in buying and selling commodities your risks would be substantial. Even experienced commodity traders often lose money on some transactions, and they are usually of a higher value than a newbie could handle unless he/she has lots of cash available.
      b) No.
      c) No overseas supplier would accept returns under those conditions.
      d) Although legally you may have some right to recourse, in practice you have very little recourse.
      i) Rarely could this be achieved in practice.
      ii) There are well recognized procedures for obtain refunds of duty paid if you do return goods that are faulty.
      iii) There would be potentially huge extra costs if you return the goods. Invariably you would have to pay return shipping costs at the very least.
      iv) I think you are biting off far more than you can chew.
      v) See iv).

      Overall, may I suggest that you learn something about buying overseas before you decide what kind of business you want to start. Most people start off by buying relatively small quantities to sell to a market that they know exists, and that they know they can sell to, as well as knowing how much they can sell the products for.
      Want To Be An eBay Powerseller?
      This is the Service You Need.
      To learn safe overseas sourcing and how to buy small (or large) quantities at best prices see→ http://provenchinasourcing.comLearn to find genuine manufacturers and negotiate small orders at prices way below what wholesalers charge. Written after my health enforced retirement and provides insider information from veteran with experience exporting 1978-1987 importing since 1987 Learn to import the easy way

    3. Thank you for this post:

      clearnote (11 Apr 2014), baovien (22 Oct 2014)

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