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Best way to do a $100k Escrow Transaction
Posted on 9/30/15 at 7:51 am
Posted on 9/30/15 at 7:51 am
Thinking about selling a product to distributors in container loads shipped directly to them from the manufacturer in Taiwan. Average container would cost approx $100k. Terms would be 50% upon order and 50% upon arrival at their destination - all by escrow.
What is the most efficient way of handling the flow of funds via escrow? Who should I use? What does it cost? Should I simply hook-up with a reputable freight forwarder? Are there any trustworthy online services that accomplish the same thing?? T.I.A.
What is the most efficient way of handling the flow of funds via escrow? Who should I use? What does it cost? Should I simply hook-up with a reputable freight forwarder? Are there any trustworthy online services that accomplish the same thing?? T.I.A.
2
Posted on 9/30/15 at 9:35 am to tigerpawl
I understand the 50 percent upon order being in escrow... why put the 50 percent upon arrival in escrow? Do they have a period of time where they are likely to return items?
Are all your customers in the US, or do you have some overseas customers as well?
I would think any decent sized bank (i.e. not a community bank - but something big enough to offer treasury management services) would be a good place to ask about the finances of these transactions.
Are all your customers in the US, or do you have some overseas customers as well?
I would think any decent sized bank (i.e. not a community bank - but something big enough to offer treasury management services) would be a good place to ask about the finances of these transactions.
Posted on 9/30/15 at 10:26 am to LSUFanHouston
quote:To make sure I have all the funds before it's released to the customer at the destination. This is significant for transactions that terminate in other countries.
why put the 50 percent upon arrival in escrow?
Posted on 9/30/15 at 10:51 am to tigerpawl
OK. So my destination you mean the port of entry, not final shipment to customer location. Yeah, good call on escrow.
Go talk to someone like Whitney Bank.
Go talk to someone like Whitney Bank.
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