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Last updated on 2024年8月27日

How can you build trust with overseas suppliers to secure better trade terms for your business?

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Navigating the complexities of international trade can be challenging, especially when it comes to building trusting relationships with overseas suppliers. Trust is the cornerstone of any successful business partnership and securing favorable trade terms hinges on this crucial element. By understanding the importance of trust and implementing strategies to foster it, you can enhance your import/export operations and create a mutually beneficial relationship with your suppliers.

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Alfredo Cardoso André

Economist and Management Analyst- Effective State of MG.
Amir Jalilzadeh-MBA-ACC

CEO at TavYar Sanaat Parseh, Industrial Equipment Procurement, Business and Executive Coach, ICF Member, Team Coaching…
Syed Abu Turab

BBA | MBA |

1 Build Rapport

Building a strong rapport with your overseas suppliers is the first step towards establishing trust. Start by learning about their business culture and practices, and show respect for their customs and business etiquette. Regular communication is key; be proactive in reaching out, whether it's through emails, phone calls, or video conferences. Personal visits, if feasible, can significantly strengthen the relationship. By demonstrating genuine interest in a long-term partnership rather than just a transactional relationship, you create a foundation of goodwill and mutual respect.

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Alfredo Cardoso André

Economist and Management Analyst- Effective State of MG.
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Toda opera??o que envolve o comércio internacional deve ser precedida de um planejamento (projeto),que inclua o Estudo de Mercado (EM), o Estudo Econ?mico-Financeiro (ECF) e a execu??o. No "EM", é fundamental pesquisar o volume comercializado e verificar a credibilidade da empresa parceira homologada no Siscomex. Já no "ECF", é necessário observar a varia??o cambial, sendo recomendada a utiliza??o de prote??o cambial (hedge) e carta de crédito. Na fase de execu??o, é crucial contratar profissionais aduaneiros de excelência. A confian?a e uma certa previsibilidade nas OP se estabelecem com a regularidade e o volume comercializado entre as partes interessadas. A IA está diminuindo as incertezas em todas as etapas, use a tradu??o simultanea.

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Amir Jalilzadeh-MBA-ACC

CEO at TavYar Sanaat Parseh, Industrial Equipment Procurement, Business and Executive Coach, ICF Member, Team Coaching and Co-development Facilitator, Journey Map Adviser, Iran Coaching Association Member
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Like any other relationship, making a connection is lot more easier than keeping and building it. My experience with Chinese manufacturers and suppliers says that cultural acquaintance has a major role in building this rapport. In countries like China, culture has been interwoven with every aspect of life which business is a crucial part of it. As soon as getting familiar with culture and being aware of your behavior in the context, things will move on fast and smoothly.

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Syed Abu Turab

BBA | MBA |
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To build trust with overseas suppliers and secure better trade terms, clear communication and reliability are key. One time in my work experience, I ensured transparency by consistently updating the supplier on shipment progress, which established a strong rapport. Maintaining regular contact, fulfilling commitments, and offering prompt payments also helped me earn their trust. Additionally, understanding their needs and showing flexibility during negotiations helped foster a partnership, leading to more favorable terms in future deals.

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Sourav Nath

Import-Export Professional II Shipping-Logistics Evangelist
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In my limited experience, to gain trust with anybody- may it be a friend, colleague, mentor- we have to be transparent in our sayings. We have to put our money where our mouth is. And to prove the commitment, giving updates in every step of the way is necessary. To sweeten the deal, monetary transactions should be on time. If this positive working trend continues, I can't see why there won't be better working relationship with overseas suppliers. Besides, suppliers must feel that they are valued and considered as growth partners. Because everyone wants to grow and growth-expansion opportunities brings out the best of any organization.

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Arturo Muttoni

?? Parceiro Estratégico em Exporta??o e Internacionaliza??o | ?? Ajudando CEOs a Expandir e Vender Globalmente | ?? Sócio na Exteriorize | ?? Consultor, Mentor e Palestrante em Comércio Exterior
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Eu iria sugerir investir em visitas presenciais aos fornecedores, sempre que possível, para fortalecer o relacionamento, que já está mencionado. Ent?o, além disso, sugiro valorizar o comprometimento do fornecedor, reconhecendo a qualidade mantida nos produtos, porque isso irá gerar uma valoriza??o mútua (desde que você também tenha mantido a sua parte do acordo), criando um ambiente de confian?a e respeito, que pode resultar em melhores condi??es de negocia??o e um relacionamento mais sólido.

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2 Clear Contracts

Having clear, well-drafted contracts is essential in fostering trust with your suppliers. Ensure that all agreements are transparent and fair, detailing product specifications, payment terms, delivery schedules, and dispute resolution mechanisms. It's important to negotiate terms that are realistic and achievable for both parties. By involving legal counsel familiar with international trade laws, you can prevent misunderstandings and create a solid basis for your business dealings, which reassures both you and your supplier.

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Fernando Gandlaz

Director Ejecutivo en empresa líder | Licenciado en Negocios Internacionales
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Contratos claros y justos: Asegúrate de que todos los acuerdos y términos sean claros y estén documentados en contratos formales. Esto incluye especificaciones de productos, plazos de entrega, términos de pago, y procedimientos en caso de disputas. Contratos claros reducen la incertidumbre y construyen confianza.

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3 Timely Payments

One of the most straightforward ways to build trust with suppliers is by making timely payments. Adhering to the agreed payment schedule demonstrates your reliability and financial stability. Consider offering a deposit or letter of credit, which provides the supplier with a guarantee of payment and can often lead to more favorable trade terms. This practice not only strengthens trust but also shows that you value and prioritize the supplier's services.

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Fernando Gandlaz

Director Ejecutivo en empresa líder | Licenciado en Negocios Internacionales
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Pagos anticipados o seguros: Al principio, cuando la confianza aún no está completamente establecida, ofrecer un pago anticipado parcial o un seguro de crédito comercial puede ayudar a aliviar las preocupaciones del proveedor sobre el riesgo de impago. Cumplimiento de estándares de calidad y certificaciones: Demuestra que tu negocio cumple con los estándares internacionales de calidad, responsabilidad social y sostenibilidad, si es aplicable. Esto puede ser especialmente importante si el proveedor tiene preocupaciones sobre la reputación y la calidad de sus propios productos o servicios.

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4 Quality Assurance

Quality assurance is a vital aspect of import/export operations. Implementing a robust quality control process shows your suppliers that you are committed to maintaining high standards. This could involve regular product inspections, either by your own team or through third-party services, and providing constructive feedback. When suppliers see that you are invested in quality, they are more likely to reciprocate by ensuring their products meet your expectations, leading to improved trade terms.

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5 Continuous Support

Offering continuous support and open communication channels can greatly enhance trust with your overseas suppliers. Be available to discuss any concerns they might have and work collaboratively to resolve issues. Providing market insights and sharing relevant information can help them better understand your business needs. This level of engagement signals that you are committed to a supportive partnership, which can encourage suppliers to offer more favorable terms.

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6 Long-Term Vision

Finally, sharing your long-term vision with suppliers can align your goals and strengthen your partnership. Discuss future projects and how they can be part of your growth strategy. When suppliers feel involved in your business plans, they are more likely to invest in the relationship and offer better trade terms. This shared vision sets the stage for a sustainable and prosperous business alliance.

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How can you build trust with overseas suppliers to secure better trade terms for your business?

1

2

3

4

5

6

1 Build Rapport

2 Clear Contracts

3 Timely Payments

4 Quality Assurance

5 Continuous Support

6 Long-Term Vision

Import/Export Operations

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How can you build trust with overseas suppliers to secure better trade terms for your business?

1

2

3

4

5

6

1 Build Rapport

2 Clear Contracts

3 Timely Payments

4 Quality Assurance

5 Continuous Support

6 Long-Term Vision

Import/Export Operations

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