The final determination of suppliers is affected by many factors, among which products, prices, quality, development prospects, etc. are the main factors. Therefore, importers need to consider all aspects of factors when selecting suppliers. At the same time, it is best to have 2 to 3 alternative suppliers to eliminate the risks caused by supplier bankruptcy or unforeseen events.
2. Send a business letter to express willingness to cooperate
After conducting a basic investigation and analysis of the supplier, the importer can establish preliminary contact with the selected supplier through various communication means. Establishing business relations with suppliers (Establishing Business Relations) is mainly through English letters or telephone calls. Here we mainly introduce the drafting of English letters.
(I) Key points of the letter
After selecting a supplier, there must be a letter proposing to establish a business relationship (generally referred to as a solicitation letter, Letter of Proposing Business). The letter mainly explains the following matters:
(1) Self-introduction, explaining how to know the other party’s name and address.
(2) Express the desire to establish a business relationship with the other party.
(3) Propose the types and scope of products you hope to trade, and request the relevant information to be sent.
(4) Explain your strength and experience in related aspects.
(5) Propose payment terms and other general transaction terms.
(II) Letter Example
Dear Sir/ Madam,
Having obtained your name and address from the internet, we are writing you in the hope of establishing business relations with you.
We are one of the largest foodstuffs trading company in China, and have offices in all major cities in the country. At present, we are interested in soybeans and should appreciate your sample and quotations.
We look forward to hearing from you soon.
Yours faithfully,
Steven Wang
III. Strike while the iron is hot and send a letter of intent to purchase
Any trade opportunity needs to be followed up in a timely manner. If we don’t seize the time, other importers may seize the opportunity. In the trade market, people believe that “time is money” and seize every opportunity to send their letters of intent (LOI) to suppliers as soon as possible.