Connecting with Asia
- Do your market research and know the products you are interested in before looking for suppliers. There are many sources to find your products. The Internet is the easiest place to start. There are many online wholesale directories. We like to believe that Get That Wholesale is the best.
- Select a few potential suppliers and get to know them by email and if possible by telephone. Obtain product samples. Narrow down to the ones that you want to work with after discussing the price and trade relationship. Make sure shipping and payment terms are clearly understood by both parties. Gather all necessary information to prepare for placing a trial order.
- Understand trade terms and use them. Before placing any order, you need to understand and confirm with your suppliers about shipment terms. Most popular are fob and cif, as well as payment terms. These are closely related to your landing cost calculation and risk assessment. You can consult an import management company or freight forwarder for detail breakdown on the costs and risks. You can also use an import management company to negotiate the trade terms.
- Do your homework on compliance issues. You need to understand the relevant import compliance regulations. US Customs, and many other government agencies such as the FDA, DOT, and ATF regulate the importation of goods. Go to the websites of these agencies to understand, register or download the forms. Compliance issues can be very complicated and ruinous if ignored. It is highly recommended to consult a good customs house broker before placing any order. Particular attention to regulation is needed when you import clothing or other textiles from China.
- Selecting a high quality forwarder and customs house broker is very important. Go to your local international trade organization and customs office to find a list of established brokers. Visit them in person and select one you like. For the first time importer, use a more individualized service.
- Place a trial order with a written purchase order if everything goes well. In the purchase order provide a detailed description of the products and trade terms. Detail all needed shipping documents and regulatory requirements
- If at all possible hire an inspection agent to check your products before they leave the factory, and provide you with a detailed report. This is usually done a few days before the expected shipment, so you can address any issues that would be raised.
- Track the transportation and customs clearance. Your forwarder and customs broker should take care of your transportation and customs clearance. However, you also need to track the process and provide needed information, such as additional product information and approving the bill of landing. You will have to issue a power of attorney to your broker and purchase a customs bond for your importation.
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