how to make the payment for overseas machinery purchase?

[han7681]

hi
we are purchasing the machinery in china ,

All process has been done , except the payment

The supplier is asking for full payment before shipping.

But if someting goes wrong , how to sort it out?

any recommendation for 3rd party payment solution?

thanks

 

[IanSuth]

@MOIC

One for you to advise on i would think

 

[MOIC]

hi
we are purchasing the machinery in china ,

All process has been done , except the payment

The supplier is asking for full payment before shipping.

But if someting goes wrong , how to sort it out?

any recommendation for 3rd party payment solution?

thanks

How did you find the supplier?

Have you carried out due diligence on the supplier and had the machine tested and certified for use in your country?

Have you arranged any spare parts that typically need replacing?

What’s the value of the machinery?

What are your incoterms (EXW, FOB etc) with your supplier?

How is the machinery going to be shipped, LCL or FCL?


The answers to the above questions will determine the best payment options.

 

[Paul Kelly ICHYB]

What’s the value of the machinery?

That's a key one!

If you are getting in checked before it ships (and you make sure that the person checking it seals the container) TT could be OK.

If blind (do not do that!) l/c with settlement on receipt in UK or when tested and approved.

but value makes a difference.

 

[Maple Sourcing]

Ask a trustworthy QC inspector to check the quality, and send detailed pictures/videos to you, to make sure everything is correct. It has to be done prior to shipment.

 

[anneworld]

hi
we are purchasing the machinery in china ,

All process has been done , except the payment

The supplier is asking for full payment before shipping.

But if someting goes wrong , how to sort it out?

any recommendation for 3rd party payment solution?

thanks

you must find a honest supplier.

 

[Chan]

hi
we are purchasing the machinery in china ,

All process has been done , except the payment

The supplier is asking for full payment before shipping.

But if someting goes wrong , how to sort it out?

any recommendation for 3rd party payment solution?

thanks

Yes, you need find a honest supplier in China, who give you the details picture and vedios to you about these machine.@han7681