How not to get Burned Importing Tools from China. China Import Tools, China Import Tools Suppliers and Manufacturers Directory
Gene Elson (photo below-on left) always made sure when doing business with overseas suppliers he had solid relationships with his business associates. That insured when his tools arrived from overseas, there were no surprises as to the quality of the merchandise.
Below is a good video by Mike Genung of Global Trade Specialists.
Penn Tool Co has been dealing with Mike Genung for well over 25 years. This video goes over some of the pitfalls and money making mistakes you could make when trying to import tools from China to sell here in the United States . When purchasing tools you usually have many different choices of manufactures and countries of origin to choose from. If you are a business like Penn Tool Co., you have to be very selective as to which Co. you will be dealing with to import tools. In this video Mike Genung goes over some of the very most basic mistakes companies make when selecting a company in China to work with. The biggest mistake is to use a company you have never dealt with and have no references as to its legitimacy. You must follow some rules when Importing Tools From China. Remember that when importing large quantities of tooling from China payment is usually made by a letter of credit .
So once the tools are delivered to you in the United States, you are basically stuck with what you receive. There is no leverage you have as a buyer if you import tools from a Co. in China that is not all it seems to be. Many times over the years Penn Tool Co. has been approached by companies in China promising very low prices if we do business with them. The problem is once the tools are delivered, you find out all you have is a pile of junk. The low prices you got at the beginning of the transaction did not help you at all. That is not a good method of Importing Tools From China.
Penn Tool Co., has had great success in buying high quality precision instruments from China.
Many of those tools are under Penn Tool’s brand name of Precise
We have learned through experience that you must do your due diligence and many of those tips are in the video below explained by Mike Genung.
Penn Tool Co Inc
1776 Springfield Ave
Maplewood NJ 07040
Phone 800-526-4956 ext. 107