sjaguar13

After sourcing various places, mainly China, Vietnam, and Pakistan, I have found what I am looking for. I have received samples and the quality is just what I need. The only thing left is to figure out what to do from here. I have the following questions:

1) How do I pay? Most want a telegraphic transfer, but I don't really know what that is. From what I can find, I just go to the bank and ask about it. I have emailed my bank, but I never got a response. I use US Bank (mostly found in Giant Eagle and other grocery stores). I am assuming, from their name, they aren't world-wide. It seems as though telegraphic transfers from international banks work better.

2) Should I get an account at Citibank or something like that, and would the account have to be a business account?

3) Most items are insanely high on shipping if I only want a small quantity. I cannot handle a 20 foot shipping container arriving at my store. I have heard about freight forwarders, but I don't really know what they do. Do they break down the container and send me the stuff inside?

 

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Rodney

Quote: I just go to the bank and ask about it. I have emailed my bank, but I never got a response.

I would suggest actually going into the bank and asking how to send a wire transfer. They can take care of it for you.

Quote: 2) Should I get an account at Citibank or something like that, and would the account have to be a business account?

Not necessary.

Quote: 3) Most items are insanely high on shipping if I only want a small quantity. I cannot handle a 20 foot shipping container arriving at my store. I have heard about freight forwarders, but I don't really know what they do. Do they break down the container and send me the stuff inside?

I'm not sure on that one. Hopefully another one of our members will be able to give some input on this

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charles95405

As I understand, the freight forwarded is just that...They get the items at port and ship to you. I have not heard of them 'breaking down' shipments. When you import, you have to pay import duties...so...not sure how you get smaller quanities. I, for one, just order from in US sources and avoid the hassle

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Phillypride

Jag,

You might need a custom broker to help you with the paper work. Freight forward just help you ship the items from the port to your store. I would recommend you to use LC (letter of credit) as payment method instead of TT.

Personally I think is safer, because the bank only send the payment once you confirm with the products are good and there not discrepancy.

I hope this can help you out.

 

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Paul204

I have only a small amount of experience importing, and I import from the US to Canada, which seems less complicated, but I would recommend self-brokering your imports.

If you get a company like UPS to broker your shipment for you (do all the paperwork so that customs releases it at the border,) you'll get charged a lot.

Importing to Canada, you just have to be in touch with your shipper, get your cargo documents and invoice from them, go down to the customs office and fill out one form. You'll then pay the applicable duties and taxes on your stuff.

Could be different in the States, but I would pay about 80$ to UPS for brokerage, plus whatever they charge to drop the shipment off. About 30$ of that would be taxes and duties, and the 50$ dollars would be brokerage fees. Driving down to the customs office and filling out the forms seems like it's worth 50$ - it only takes about a half hour or an hour, depending on how much stuff you're getting and how complicated the form gets.

Just my two cents though, and like I say, could be a different story in the states.

 

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