Public Works Advisory, NSW Department...
Author: U.S. Commercial Service's Asia Pacific Team
'Any sale is a gift until you have been paid!' This practical business insight is especially true for international transactions where the buyer and seller could be 12,000 miles away. Therefore, be sure to undertake appropriate due diligence when qualifying your Chinese buyers. While it is prudent to make use of the various credit reporting companies active in China, you also should ask for trade references, especially for other U.S. firms that you could easily contact. Only letters of credit from well established banks in China should be accepted.
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