Q: How to buy your overstock and what’s your business procedure?
A: The business procedure goes like this,
1. You could be updated with our new stock lot offers by subscribing our newsletters or visiting our website.
2. You send inquiry letter to us online or by email for any of the overstock you have interests.
3. We are quoting factory asking prices. You could counter offer and we’ll try our best to meet with your target by negotiating with our partner factories.
4. Samples will be arranged to you when both of us come to some agreement on pricing and order quantity.
5. If samples passed, please arrange deposit payment so that we could secure the overstock for you.
6. Cargo inspection is welcome after the deposit payment has been arranged.
7. Re-labelling, if requested, will be processed after inspection passed.
8. Containers will be loaded after we receive the balance payment for the order.
9. You could nominate your freight forwarder who will arrange the shipping affairs for you. Of course, we are always ready to service you on shipping if requested by your side.
Q: Can you consolidate different overstock into one container?
A: It would be extremely hard for us to do it. Two reasons for it. First of all, we deal with big lots and most of the single overstock are with containerized quantities already. Secondly, most of the overstock are lying in the warehouses of the factories situated in different areas and we usually load the containers at the factories’ sites and ship them at the nearest but different ports.
Q: Why do you ask for sampling charge?
A: Many buyers request samples each time when we present a new stock lot. Unfortunately the quantity of samples in our office are always so limited that it would be extremely hard for us to satisfy the needs of all buyers. We commonly ask for $20 as minimum sampling fee which is not calculated with the unit cost of the products. This is only to ensure that all the prospective inquiries for our overstock are of genuine interests.
Q: Can you refund the sampling charge if samples fail?
A: Absolutely. We’ll refund the sampling charge to you when we finalize the deal, or, within three working days upon receipt of the samples if you could return the samples to us within 20 days with shipping charge prepaid.
Q: Can you change the labels or tags?
A: Yes, we’ll try our best to meet with your requests. For products which new labels can be attached on without damaging possibility, label or tag alterations will be available. Actually this is part of our Value Added Services to ensure that you will avoid any trademark, copyright, registered brand infringement or any other legal issues.
We have several highly experienced factories partnered with us concerning label re-stitching and repacking. Kindly be noted that some extra cost will happen, exact amount to be calculated based on your detailed requirements.
Q: What are the reasons for the overstock?
A: overstock result from various reasons. Some buyers cancelled the orders because of shipments delayed and this is the most common reason but absolutely not the only one. Some shipments are stuck there because the buyers failed to make the payments on account of their markets depressing or other financial issues. And of course, some orders are cancelled because of quality defects. Each time when we get any source of stock lot, it’s always initial and important to evaluate the quality of the samples and bulk cargo. Always and only those without any major and significant defects will be uploaded onto the Website and presented to our buyers.
Q: Are your overstock with good quality?
A: We should say yes. All the overstock have been pre-inspected by our quality assurance staff or agents and only quality overstock will be presented to our buyers. If any minor defects exist, we will readily inform you of any such issues without exception.
Moreover, we will always recommend our buyers to visit the warehouse personally for pre-shipment inspections. Should you nominate a third-party organization to oversee the inspection, it’s always welcome and we will gladly make the required arrangements for the process.
Q: Any release letter available for the labels?
A: All product labels on our stock products had been manufactured under the authorization of the brand intellectual property holders, hence all clients can be assured of the quality and authenticity of any labels.
Authorization letters might be available but they just guarantee that the export from the countries of origin will be legal and without any offence. However, buyers shall ensure beforehand that either the import to their target marketing countries or the resell of the original-labeled overstock in their markets would NOT lead to any legal issues based on the relevant intellectual property laws in their respective countries.
Q: Does the factory have the right to resell the overstock to some other buyer?
A: The factory has the right to resell the goods to some other buyer only when they got the permission from the original buyer. But practically things are much more complicated. Some buyers are not willing or deny to offer the paper. Some factories get the orders from some trading companies instead of the brand name owners or brand name authorized. Some overstock have been purchased by some dealers and the goods are kept in their warehouses. Most of the dealers have no idea of any release paper. So only a few factories might be able to get the permission from the original buyers and provide with the letters.
Based on our experience, the buyers from USA, some EU countries and Australia commonly buy overstock and import them to their countries by any of the following means.
1) Most of the buyers request us to change the labels.
2) Some of the buyers go to get permission from the brand name owners.
3) It sometimes happens that some buyers just import the goods as what they are, but we have no idea how they manage to do it.
Q: What will be your payment term?
A: We mostly accept T/T as the payment tool since we are dealing with ready-made goods and the delivery time will be as short as 7 days. All the prices listed on the Website or offer sheets are all based on this payment term. And 99% deals with our Buyers all over the world have been finalized based on this payment term.
Irrevocable, Non-transferrable Letter of Credit at Sight might be acceptable upon discussion. We will confirm from which country and from which bank the L/C will be opened. This is critically important since consecutive recessions after the Global Financial Crisis have threatened the validity of L/Cs issued by various banks in countries experiencing banking crises and/or significant sovereign risk.
Q: Why shall we pay deposit before cargo inspection?
A: We ask for deposit payment for those overstock stored in the factories only. In this case StockChina acts as a sourcing service provider during the business transactions. The reason why we ask for 30% deposit payment before inspection is obvious, we have to ensure that StockChina will be involved at all stages of the transactions, so as to protect the benefits of all parties. We think this will be fully understood by our buyers.
Q: Can you refund the down payment to us if the inspection fails?
A: You are welcome to inspect the cargo in the warehouses if price fixed and samples approved. However, since the samples we have sent to our buyers are randomly selected from the bulk stock, and since this is stock business, what we guarantee, is that the quality of the bulk stock is completely the same as the samples approved, otherwise the deposit payment will be refunded without any delay.
Trust is the initial and the most important principle in stock business. StockChina always places high regards on our reputation in upholding this principle.