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Payment |
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Q:
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How
and when do I pay for the products? |
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A:
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If
you are buying a significant quantity of goods, it is most likely
that you will be paying for the goods with a letter of credit
(L/C). An L/C is used to protect the interests of the both the
buyer and the seller of the goods being sold. It offers security
to the seller as assurance of payment from an international
bank, while it protects the buyer's interests, as the bank will
only pay your supplier on your behalf if they present the proper
documentation needed. Payment will be given if these documents
comply with the terms and conditions set out on the letter of
credit. Safeguards such as inspections of the goods, quality
control, and delivery times are possible conditions added to
the L/C. In the process, the supplier is paid after the goods
are shipped and the documentation and special conditions of
the L/C are met, however importers will need credit standing
at the bank at which they apply for the L/C. |
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Q:
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Which
currency is used for buying the goods? |
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A:
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The
buyer and seller decide on the currency used for the transaction.
In most cases, a widely used and stable currency is chosen.
The most frequently used currency is the U.S. dollar, with others
being the Japanese Yen, and to other major European currencies. |
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Q:
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What
is the exchange rate right now? |
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A:
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The
Thai baht is a freely floating currency subject to market changes
and fluctuations. Recently, the baht has been moving between
in a range between 36-40 per U.S. dollar. Click here to see
the latest exchange rates between the Thai baht and other major
currencies. |
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Q:
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How
do I contact Thai Exporters? |
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A:
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Start
by a taking a look through our Export Directory where you can
find over 6000 Thai exporters and access information about the
company's products, company profile, contact information, manufacturing
processes, technology and much more. Another way to contact
exporters is through Thailand's Trade Offices. There are five
braches in Thailand and 27 branches throughout the world, which
are designed specifically to promote Thailand's exporters. Lastly,
Thailand's embassies overseas operate offices of commercial
affairs that also act as a liaison between sellers and buyers
of Thai products. |
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Q:
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What
kind of taxes or tariffs will I have to pay on the goods? |
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A:
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Goods
that are exported from Thailand are not subject to the government's
Value Added Tax (VAT), so it should not be applied to the goods
you buy. The taxes and tariffs you are obliged to pay on the
imported goods will be paid in the country you are sending them
to. They import tariffs vary by country and by the nature of
the products, while the products may also be subject to local
goods and services or sales tax on entry into the country of
final destination. This information is available from the customs
department of the country the good are imported into. |
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