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Tag Archives: payment terms

Using Letters Of Credit With China Suppliers

Posted in China Business

This is a guest post from Renaud Anjoran. Renaud runs a product quality inspection business in Shenzhen and he also writes the truly excellent and perennially helpful Quality Inspection Tips. My firm has worked with Renaud on a number of China product matters and we have consistently found him to be highly knowledgeable about China… Continue Reading

China Manufacturing Payment Terms. Limit Your Risks.

Posted in China Business

Many companies continue to purchase container load quantities of product from small manufacturers located on the southern coast of China. This trade has developed a standard form of payment, often termed 30/70 TT. This means: 30 percent down payment on placement of the order, with the remaining 70% due upon shipment. This means 30% of… Continue Reading

Selling Product And Services INTO China. It’s The Payment Stupid.

Posted in Legal News

With President Obama talking about doubling U.S. exports and with China’s economy booming, it seems appropriate to talk about what should go into a sales contract with China, when you, the foreign company, are the one doing the sale. The big thing — almost, but not quite the only thing — in such a transaction… Continue Reading

China Outsourcing 101. The Legal Basics.

Posted in Basics of China Business Law

This latest recession has only caused even more small and medium sized businesses to look to cut costs by outsourcing their product manufacturing to China. Unfortunately, many of these companies now engaging in OEM (original equipment manufacturing) outsourcing to China are failing to take some or all of the minimal legal steps necessary to protect… Continue Reading