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Here, Tradeindia's members can exchange ideas and ask for help on trade-related issues. To participate, you must be a member of Tradeindia.com. We have assigned moderators to facilitate these discussions. |
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Posted on 27th August 2007 at 08:29:00 |
Mr. Manohar Godse
Director
DAGSON ART
Mumbai, India
Paid Member
Joined :10/30/2004
No of Topics Posted : 2
Reply/Comments : 3
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TOPIC : Payment terms -- quoting offers in USD
Dear All,
I am doing small business, international supplier,for design Engg.models (mock-up. scale models etc)
I would like to know, is it a good practice to quote our offer in USD? Since day by day USD is becoming weak (falling value against INR). In this case during supply of items we get lower value of our product in hand, Or we have to quote in that country's currency?
It is true that, some earlier, USD always on higher side and exporters getting higher value at the end of the day, but now time has change so, pl advice how to quote our product during tender doc. or when asked for.
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Posted on 2nd September 2007 at 17:55:00 [Message #642
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Mr. Lung Terry
foreign trade officer
NINGBO DINGMING MACHINERY MANUFACTURING CO., LTD.
Ningbo, China
Free Member
Joined :08/31/2007
No of Topics Posted : 0
Reply/Comments : 2
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Re: Payment terms -- quoting offers in USD
Yes, Mr Manohar Godse , the SME problem is also happening to me. But after some rounds of considerations, I work up with some new resolutions, I don't know is it useful for or not, but I think I should share with you .....
You know I am from china, and the USD is also depreciating in terms of RMB (Chinese currency), so when I get a inquiry, I firstly check out all the cost in RMB, and then changing to USD according to rate of USD/RMB of that day, and I of course mentioned the rate also in the quotation and inform our customers that the price will be finalised according to rate of USD/RMB of the day when we signed the sells contract, I think in this way you can avoid such problem, why not give a try ..........
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Posted on 9th October 2007 at 21:25:00 [Message #794
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Mr. Mike Cheung
Vice President
Goodfellow Inc.
Montreal, Canada
Free Member
Joined :05/04/2006
No of Topics Posted : 0
Reply/Comments : 1
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Re: Payment terms -- quoting offers in USD
Firstly, I should say that your topic isn't correct. Payment term is one thing & quoting offers in USD or others is another thing.
Anyway, quoting offers is better in USD or in others, depending your market - you should quote in EURO for Europe and in USD for others regions.
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Posted on 10th October 2007 at 21:13:00 [Message #796
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Mr. Manohar Godse
Director
DAGSON ART
Mumbai, India
Paid Member
Joined :10/30/2004
No of Topics Posted : 2
Reply/Comments : 3
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Re: Payment terms -- quoting offers in USD
Dear Mike
thank you for your comments,on my topic , as you said correctly that,!! Payment term is one thing & quoting offers in USD or others is another thing.
I think , my title was wrong , but you got my point . we always do the same ie quote in us doller ( more than 90% cases ) and
euro for
european country.
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Posted on 15th October 2007 at 06:27:00 [Message #799
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Power Wang
FUZHOU CUMVOL M & E EQUIPMENT CO., LTD.
Fuzhou, China
Free Member
Joined :09/05/2007
No of Topics Posted : 0
Reply/Comments : 1
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Re: Payment terms -- quoting offers in USD
In most cases, we would like to quote in USD, but sometimes we also could quote in EUR， and our clients agree with it.
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Posted on 29th October 2007 at 17:38:00 [Message #832
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Mr. Shalish C. Gajjar
CEO
Varsha Exports
Vadodara, India
Free Member
Joined :08/23/2006
No of Topics Posted : 1
Reply/Comments : 12
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Re: Payment terms -- quoting offers in USD
Looking at the current scenario. It is advisable to quote in EURO being stable as compared to USD. Explain the reason why you wish to prefer payment in Euro as compared to USD. EURO and USD being freely convertible currency and widely accepted majority all over the world.
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Posted on 17th December 2007 at 14:00:00 [Message #972
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Mr. D. C. Shah
Director
FLUID AIR FILTER SYSTEM
Ahmedabad, India
Free Member
Joined :02/27/2004
No of Topics Posted : 0
Reply/Comments : 1
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Re: Payment terms -- quoting offers in USD
Dear Sir,
Due appreciating rupee all are effected for realisation against dollar currency. But the effect is to all international suppliers.You may increase price if possible and if not talk to customers to accept price varion clause giving base rate on the offer day.
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Posted on 12th March 2008 at 12:42:00 [Message #1173
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Re: Payment terms -- quoting offers in USD
DEAR MANOHAR,
IF YOU WANT TO GIVE QUOTATION TO NEW BUYER THEN YOU FIRSTLY CALCULATE YOUR COST & THEN YOU CONVERT THE PRICE IN FOREIGN CURRENCY (US $, EURO & OTHERS).
BUT IF YOU HAVE YOUR EXISTING BUYER, THEN YOU SHOULD TRY TO UNDERSTAND THAT NOW THEY GET LOWER AMOUNT IN INR & FR PROOF YOU CAN SEND THE SCANNED COPY OF CURRENT FIRC & FIRC IN WHICH YOU GET MORE THEN 44 INR AGAINST 1 US $.
YOU DRAFT THE LETTER FOR PRICE INCREASE IN THAT CURRENCY COMPARISON. YOU WILL GET GOOD PROPER RESPONSE FROM YOUR BUYER.
WISH YOU ALL THE BEST
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| Author |
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Mr. Manohar Godse
Director
DAGSON ART
Mumbai, India
Paid Member
Joined :10/30/2004
No of Topics Posted : 2
Reply/Comments : 3
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Re: Re: Payment terms -- quoting offers in USD
Mr. vijaykumar,
Thanks for advice, what is FIRC ? Firc (forgin inward Remitance certificate) is bank doc. we normally recd from bank after Payment.
you, mean client will pay the difference once the payment is done as per quoted price in USD ? we should make payment term accourdinly while offering our cost of product only -----?? is it not>
But good suggession , I will try next time , regards
yours
Manohar Godse
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Mr. Mani Surya Jose AV
Managing Director
RACA EXPORTS
Chennai, India
Paid Member
Joined :04/12/2008
No of Topics Posted : 2
Reply/Comments : 8
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Re: Re: Payment terms -- quoting offers in USD
Always freely convertable currency is best for quote.
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