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"Japanese businessmen are managing with Chinese
corporations鈥� money! The irregular T/T is the
cause of the confusion." Said Mr.Uno, who is the
former chairman of the Okasaki stone association.
鈥� the Japanese company should not do so, but
the result is caused by Chinese corporations
themselves. Confusion-betting for accepting T/T.
"Actually, the Japanese importers are taking the
money of Chinese exporters to do business. The
irregular payment terms鈥擳/T is the root of this
abnormal phenomenon," Mr. Uno, the former
chairman of Okasaki Stone Association of Japan,
who was invited to visit Xiamen not long ago,
said frankly, "For this, Japanese companies
should not do that. However, Chinese companies
must take more responsibility."
Irregular phenomenon鈥攔un to accept T/T credit
from Japanese importers
The so-called T/T is that Japanese stone
importers ask Chinese stone exporters for an
account sale and promise to wire transfer the
payment after several months of shipment. L/C is
the popular international payment terms. The
banks are responsible for the importers to pay
the Chinese exporters. However, if the payment
term is T/T, then the banks take no risk for the
payment. It will be up to the Japanese importers
whether they will pay promptly and totally.
Therefore, the Chinese companies have to take all
the risk for the payment.
According to some stone reports, among Chinese
stone exporters to Japan, from 20% to 80% accept
T/T from their Japanese customers. The due time
has been lengthened from one month at the
beginning to five months now.
Bad fruit鈥攑rice falling down; payment meeting
difficulties
"The stone business is becoming more and more
difficult, "this is the common sign from both
stone industrial and trading companies from the
south of Fujian, also the whole China.
Due to the fierce competition, during several
years, the price per Sai of tombstone has fallen
down quickly. At the same time, the number of
companies credited is increasing.
"The Chinese companies send us fax and come up
with T/T payment terms themselves. In Japan, if
the payment is delayed for so long time, many
companies will go bankrupt." Mr. Uno said. For
such stupid things, why we do it again and again?
Suggestion鈥擝oth stone association and government
must interfere this problem
Mr. Chen Dazhong, the vice chairman of Xiamen
Chamber of Commerce, said that requested by the
stone companies, The municipal Chamber of
Commerce is preparing to set up a " stone
industry association", The members can be outside
Xiamen. They hope to erase this bad situation by
self-discipline.
"Without the intervention of the government, this
problem can not be solved." The career men said.
If the customs do not allow T/T payment term when
the cargo is claimed to them, or the State
Administration of Foreign Exchange do not cancel
after verification for the trade under T/T, or
the revenue do not give drawback for the export
under T/T, then the exporters will refuse T/T.
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