I've just set up a new company, and about to order 2,000 units of a custom-made product, through an Irish company, that is being made in China.
We had expected to pay on shipping, but with currency fluctuations, the Irish company is recommending a 50% deposit now (about €5k) so as to secure the price. (The product would be made next month and delivered in July)
The Irish company seems reputable, and has already produced a similar products for other clients that I know I'll.
Being new to this, what guarantees should I look for with the deposit: fully refundable in the event of the product not arriving, or being suitable??
I'm guessing there is some standard formula of words...
and thanks for pointing me in the right direction.
We had expected to pay on shipping, but with currency fluctuations, the Irish company is recommending a 50% deposit now (about €5k) so as to secure the price. (The product would be made next month and delivered in July)
The Irish company seems reputable, and has already produced a similar products for other clients that I know I'll.
Being new to this, what guarantees should I look for with the deposit: fully refundable in the event of the product not arriving, or being suitable??
I'm guessing there is some standard formula of words...
and thanks for pointing me in the right direction.