AboutEast Sourcing Co Ltd Expertise How to sourcing something from China? How to audit factory? How to get a better offer from China factory? How to make sure my goods has been sent on time? How to open a office in China? How to find a engineer in China? Where to get the new design products? Where to find a chinese product designer? How long time will take to sourcing from China?
Experience From 1997 to 2008,we have long experience for sourcing products for different clients,such like industrial parts&material,electronic products...
Organizations East Sourcing Co Ltd www.EastSourcing.CN
Education/Credentials Hunan University(China) computer science
Shenzhen University(China) business administration
Past/Present Clients Shenliang tech Co Ltd
Kecotech
Huayi design Co Ltd
Sangtian tech Co Ltd
USBbid USA Co Ltd
Question Hi I was wonder if you could tell what is the best way to pay for goods from China. Will the accecpt pay pal because most of the companies i have seen want t/t payment. How can i protect my self against bad companies and what is the best way to pay from my point of view
Answer Hi Michael,
There are three reasons that China supplier don't like Paypal,
A: Paypal charges very high fee for receiving funds from buyer, and very high fee for withdraw money from Paypal; The total fee is almost over 10% of the goods price!(in China side)
B: Paypal will keep the funds over one month normally, that the supplier can not get funds on time.
C: Paypal is not very safe, some bad buyers will cancel the payment once them receive the goods.
So, paypal is not a good payment for wholesale, it's just good for buying small quantity on ebay. It's a retail payment.
Some China suppliers accept ESCROW https://www.escrow.com/ , it's like paypal, but it's for wholesale payment.
L/C is also very safe, but it will take more time and it's for big quantity order, it's not good for rush order.
T/T is still the most popular payment method in international trade. So you have to study on how to avoid the risk, how to check the reputation of your supplier, and do your best to control everything very well.
Also, you could hire some buying agent to help you check the quality and arrange the shipment.
