I had tthought this was the reason you werent going to use l rider. The fact that they wont negotiate payment terms in my mind is a red flag.
hold the phone
I understand that the manufacturer wont accept paypal, but why does this mean that our monies cannot be collected via that means.
I'd have to say that my experiences with foreign vendors have been exceptionally good. Especially with a provided incentive of "future possible orders", and L-Rider is providing their units to many reputable retailers. I'm sure we would've heard by now if there were any extensive issues with the manufacturer.
Estrid clearly knows how China's industrial sector works!
A red flag? Yes, I agree, it sucks and is definitely NOT my preferred choice of payment!
As much as dislike the idea of sending unsecured funds, everyone has to make their own choice.
If you choose to bow out of the coop for that very reason, then I certainly won't stand in your way and completely understand your point of view....REALLY!!
But for me, based on the information that I've obtained from references, it's a risk that I'm willing to take to own an LT for a fraction of retail.
So each and every participating member is going to have to make their own decision, is it a risk that you're willing to take?
There's no denying the risk factor....however, again, Estrid is correct!
Take a look around at all of the vendors that are selling the L-Rider LT's, all of which paid for those items via unsecured wire transfer.
L-Rider also provided significant references of which I've already verified the legitimacy, quality control and turn around times from payment acceptance, to product manufacture, to quality control and testing, to order shipment.
It would NOT be in L-Rider's best interest to "take our money and run" considering exactly what CG just pointed out....the MASSIVE potential of repeat orders.
The first coop will not be very large. I'll either be serving under 100 people for JUST the LT devise or less than 50 people for the LT with batteries.
I haven't made my final decision yet, but I'm leaning towards holding a completely separate battery coop for many different reasons. One of which, is the suppliers that I've negotiated wholesale prices are willing to accept Paypal as long as WE cover for the 4% international payment fees.
But before I can open a secondary coop, the LT coop MUST be completed successfully.
There also may (or may not) be a limit on each member's order for the first LT coop....also haven't made my final decision for this either yet.
I'm doing everything that I can possibly do to make sure that your money is as safe as possible, that you'll receive the product as expected and that this transaction will be completed successfully.
I'm verifying EVERYTHING that you can possibly dream up for this first coop, cuz it's the most important one of all!
At this very moment I'm validating the HSBC bank account in Hong Kong, where our funds will be transferred, and asking if everything on my commercial invoice matches the account information. I've also tried planning for "the unthinkable" and have asked HSBC-HK the procedures in the event of a fraudulent transaction and/or any current fraud reports or significant requests for payment reversal.
And anyone that works for a bank is going to be able to confirm their reply....
"It is well noted of your concern on the payment. Unfortunately, we are
unable to disclose any account information without original
authorization letter from the account holder in order to protect
customer's interest.
If you would like to confirm the account information, may we suggest
that you advise the account holder to obtain the 'Bank Reference Letter'
from our bank. The account holder may complete the Bank Reference
Letter Application Form and send the original from bearing with the
authorized signatory(ies) and company chop (if any) to the following
address. Please take note that a standard handling fee of HKD300 will be
levied.
Trade & Credit Information Department
1/F, Tower 2,
HSBC Centre,
No 1 Sham Mong Road,
Kowloon, Hong Kong
Direct Line: 852-2288 2179"
So, as you can see....I'm doing everything in my power to make SURE that we don't get screwed.
But there's always a risk, people.....noooo denying it!
