Currency and Payments
One of the most frequently asked question we receive is about payments. How does this work? After all, we use pound sterling in the UK, but factories need US Dollars and then there is the local currency in China, the Renminbi (RMB).
The simple answer is that we are flexible. Tiger Global can offer you delivered to your door pricing in pounds sterling or, if you are already experienced in buying currency via FX companies, we can price in US Dollars.
Terms of payments vary. Typically our approach to supply chains is small margin based on 'back to back' terms. This means that whatever a factory's payment terms are for the order, we will match with you. For most factories, this is 30% deposit and 70% upon completion of goods.
Tiger NEVER releases final payment to the factory before an inspection of the goods has taken place by one of our staff in China.
For repeat business, we can sometimes negotiate terms with the factory and if we are successful, our customer will benefit as these terms will be passed on immediately.
In certain cases, Tiger Global will offer credit terms to you and we can discuss this in more depth once we explore your project together.
If you are at all unsure of the process or have concerns about payments or currency, we are more than happy to discuss on the phone.