1) When you provide a price quotation, what is included in the price?

As a general rule we quote C & F (Cost and Freight) without insurance prices to our customers, unless requested otherwise. It is about 15% cheaper to quote without insurance and advisable to do so as insurance cover taken out in China is unreliable.
It is better for the buyer themselves to take out open insurance cover with a reputable international insurer such as Lloyds of London.

2) What are the methods of payment?

Payment is normally expected by one of two means:

• Telegraphic Transfer (T/T)
• Irrevocable Letter of Credit at Sight

3) What are the Standard Terms of Payment?

Our Standard Terms of Payment with T/T is a deposit with order and payment of the balance of the contract amount prior to shipment of the goods.

4) How can we be confident of our financial dealings with you from the outset?

As a safeguard for our customers, we require all payments from customers to be made in the first instance to a third party, Orient International Business (Group) Limited, a wholly owned leading Chinese Government Finance House who amongst other functions, to protect customers, will ensure that monies are only released when a supplier is entitled and due to receive such payments.

5) How can we be assured that the goods with meet the required quality?

All our manufacturing is subject to quality control throughout the production process. We place trained QC inspectors in all locations where our manufacturing is taking place and they report directly to us at Head Office totally independently of the factory management. Goods are inspected at various stages of manufacture and a final inspection is carried out when the items have been completed, just prior to packing.

6) Who is responsible for carrying the Exchange Rate risk?

The buyer is responsible. When we quote a price to a customer we normally quote the price in US Dollars and our Contract will show the prevailing exchange rate of the US Dollar to the RMB at the date of the Contract. So although the Contract is quoted in US Dollars it must ultimately be exchanged to RMB at the exchange rate prevailing at the Contract date.

If, by the time the customer actual pays the RMB has depreciated against the US Dollar and results in the customer having to pay more Dollars to fund the correct amount of RMB, then the buyer is responsible for covering this short-fall.

This is a normal importers’ risk and can be covered by the customer forward buying the required currency through their Banker.

In the reverse situation where the RMB appreciates against the US Dollar, the customer will be entitled to a refund of the exchange difference.

7) How long will it take from placing an order until we receive the goods?

We normally state the anticipated lead-time at the time of quotation for any order.

The lead-time is made up of the manufacturing lead-time and the shipping lead-time.

The manufacturing lead-time is based from the time of placing the confirmed order to delivery to the port of embarkation.

The shipping lead-time is the time in-transit or ‘on the water’. For example, to Europe it is between 25-30 days, to the USA, San Francisco from about 18 -22 days and to New York around 24-28 days.

8) Other Questions?

The FAQ’s are meant only to cover the most general of questions. We fully appreciate that their may be many potential questions that we have left unanswered.

Should you have a question that has not been answered already, please either email us at info@shaoxing-caihong.cn or complete the message form on the Contact page.