I've been asked to pay a 30% deposit upfront to a factory in China, and honestly that makes me nervous. What's the safest payment method for sending money to Chinese suppliers, and should I use Alibaba Trade Assurance, wire transfer, or something else?
The safest way is to use the 1688 platform to guarantee transactions and purchase corresponding insurance.
A 30% deposit is very normal in the domestic factory circle. Don't be scared by this ratio. The focus of the first cooperation is on how to effectively use the 1688 guaranteed transaction.
You need to open buyer protection service on the 1688 platform, and then log in to the platform's backend → transaction management → initiate an order contract.
The second step is to check "Safe Purchase" on the basis of the customized contract, which will be underwritten by PICC P & Casualty Insurance of China, so that there will be double guarantees.
Before initiating a transaction, you must use Alibaba Wangwang for communication. (Using WeChat,WhatsApp,telegram and other communication software will not be recognized by the 1688 platform). At Alibaba Wangwang, confirm the material, size, process, LOGO, sample standards, delivery date, compensation rules, freight, and proofing fees with the supplier.
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