Countersign HVAC Contract Template Made Easy

Label payment contract

sending thousands of dollars of your hard-earned money overseas to someone you've probably never even met before can be scary but luckily there are steps you can take to protect yourself and in this video I'll go over the different options that are available what to watch out for and the best practices and make sure you stick around until the end I'll show you how you can download a contract template that I use with my suppliers to make sure that all of your bases are covered but first my name is crescent and on my channel I share tips and strategy videos just like this one and how you can create a successful Amazon FBA private label business so if you enjoy videos like this consider subscribing alright let's get started okay so when you're working with a supplier other than negotiating the final amount of the invoice you can also negotiate the payment terms meaning how much you need to pay up front to get the manufacturing process started and when to pay the remaining balance standard practice is typically 30% upfront and the remainder when the manufacturing is complete but it can vary from supplier to supplier some may want you to pay 50 percent upfront and don't be surprised if they want you to pay 100 percent upfront every supplier would love if you paid a hundred percent upfront but that's not smart on your behalf as it leaves you with no leverage if anything goes wrong such as with quality or delays so always negotiate so you have a few options for paying your supplier some are better and safer than others most of plyers would prefer that you paid them with a bank wire transfer otherwise known as TT which stands for telegraphic transfer since it's the safest option for them as there's less risk for fraud or chargebacks and there's less fees and for that reason they'll tend to avoid using paying by credit card or paypal again if you negotiate or insist on using a different payment method they'll usually agree so which option is best for your initial deposit I don't recommend paying with a wire transfer this option offers absolutely no protection for you once the money leaves your account it's gone what I recommend is paying with PayPal but use credit-card as the payment method on your PayPal account this way if you have any issues you can file a claim with PayPal and if it happened to deny your claim you have a backup option of filing your claim with your credit card company keep in mind though that you can also use PayPal when ordering samples this is the safest method to protect yourself however the fees can be high with foreign transactions PayPal charges 3.9% which the supplier will usually always request that you pay you can always try to negotiate with them to split the fee if not on the first transaction perhaps on...