Wednesday, May 4, 2016

A Business account matters in international trade

Foreword:This article is for newbie importers, any experienced importers know the ways to judge whether their business partner in the foreign country is a honest business or a liar.

First,any business in China according my experience who wants to export need to apply a right to export their goods from their local government or relative officials. With an import and export certificate they get from the bureau,they can apply a bank account receiving us dollars from a bank,the bank needs to have international branches over the world,so it affords international funds transaction possible.

Second,if any US dollars received by the applied bank account,they can’t use it immediately.The bank will notify the business they have money received from a foreign country.The company may show their contract with the buyer,the commercial invoice and must get a approval from relative officials knowing that they received the money rightfully on business purpose. Then the company can exchange the dollar to RMB,get it out from the bank.

So,doing an international business transaction. If you’re afraid to be cheated,never pay any money to a personal account,when you get the proforma invoice,check the bank information carefully.A business account is the most trustive way to judge whether you’re dealing with a rightful business or any other personal.A business account tells you they have an exporting right,and exporting right means a right business without any cheating history,because only a business have these qualifications can they be approved by the relative officials.

Don’t be shy,just be bold. Talking with any exporters you never known before means a new opportunity which will brings you profit you may anticipated long time ago in your mind.International trade is the most profitable business for importers,they can buy the goods which have no competition in their local market,and a price which means too high to affordable by local manufacturers.

While on business for international,talk on phones may sometimes means time saving.But e-mail is the most important way for business correspondence,it stores every detail of corresponding which however,on the phone it may last only for a few minutes,and you may forget when time goes long.E-mails enables you to check the past history,you find it in the archives,this means long time ago what you said to your partner,and what your partner replied can be checked and viewed for a full consideration today.

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