Importing from China

I have always used USA only companies for my dropshipping needs.Now,due to prices,i am thinking about using MK ENTERPRISE from China to import items.My questions are to anyone who uses them.I want to know if you have to pay any tarriffs or taxes,and if so,how and when do i pay for them?Also,when i signed up for my new business and got my bus license,Tax ID,etc,i remember being asked if i would be IMPORTING.I said NO! Why did they ask me that?Is it legal,etc,and who do i notify to tell them that i now WILL be importing? Sorry if these questions seem stupid,but i want to cover all my bases and protect myself.Any info you can post is much appreciated,thanks

only some wholesalers will ask for id licence and so on, but normally if you are importing goods from overseas you don't have to have one if it is not required in your country. On that wholesaler you are refering to i have heard a lot of complaints about them, so becarefull on what you purchase from them. Normally they have a lot of fakes. Tread softly.
Good luck
cheers
darryl

Would someone please explain to me how I go about using L/C as a payment method? I would really appreciate it.

what's L/C ??????????

Letter of Credit. I few companies in China and abroad say that they accept it. I have heard in forums that it is a safer way of doing business than wiring money into space. I imagine it is like what we would call ordering on account, but the company in China told me to check with my bank, they should know....and my bank did not. Any wisdom out there?

out of all my deals with banks and crediters, i have never heard of letter of credit. Sounds suspecious, look into it a lot more than just taking there word for it.
cheers
darryl

I've heard of L/C and I know that my bank does issue them (I'm in New Zealand) but have never heard of anyone actually using it.

Anyway, here's an article on it:
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Thank you for the info. That's very helpful. It seems like a safer way than western union or wire transfer. If you guys don't use it, how do you purchase safely when doing international transactions? Thank you both for your thoughts.

Thank you for the info. That's very helpful. It seems like a safer way than western union or wire transfer. If you guys don't use it, how do you purchase safely when doing international transactions? Thank you both for your thoughts.

Well I usually use paypal or a credit card, and buy from a reputable source. If things go wrong you can always do a chargeback.
I got scammed a few weeks ago when I paid by google checkout and they're being very slow in doing anything about it while generally pissing around and wasting my time, so I wouldn't recommend them.

Escrow is supposed to be the best, but no one accepts it. :roll: