What is Open Account (O/A)?

What is Open Account (O/A)?

An open account transaction in international trade is a sale where the goods are shipped and delivered before payment is due. The payment terms typically range from 30, 60, 90, to 120 days. This method is favorable for buyers as it allows them to receive and sell goods before making payment, improving their cash flow and liquidity. Open account terms are a vital tool for businesses looking to expand their operations without immediate financial constraints. This method of payment provides an opportunity for buyers to manage their finances better, giving them a buffer period before settling their invoices.

Leonwholesale

Leonwholesale is one of the best trading company in Yiwu, China. We provide one-stop buying and sourcing services to a diverse range of overseas clients. Our expertise spans product sourcing, supplier management, new product development, quality control, product branding, warehousing, documentation, and shipping. With a focus on delivering comprehensive solutions, Leonwholesale has positioned itself as a leader in the industry. Our commitment to excellence ensures that our clients receive top-notch services tailored to their specific needs.

Credit Payment Terms

We are pleased to offer credit Open Account (O/A) payment terms to our high-reputation customers. This allows you to use Yiwu Leonwholesale's money to import more goods from China, achieve more goals, and earn more money. By providing credit payment options, we enable businesses to scale their operations without the immediate pressure of upfront payments. This flexibility is crucial for companies looking to enhance their market presence and boost their sales.

Annual Credit

We offer a maximum of USD 8,000,000 in annual credit for each high-reputation customer. This credit can be used for product sourcing, quality control, and other supply chain management services. The substantial credit limit allows businesses to undertake large-scale projects and secure their supply chains effectively. It also demonstrates our confidence in our clients' ability to meet their financial obligations.

Calculation of O/A Credit Payment

The O/A period is calculated from the day of sailing. The terms include a 1% commission, 1% insurance, and 1% per month interest depending on the O/A period. These terms are designed to be competitive and fair, ensuring that both parties benefit from the arrangement. The inclusion of insurance provides additional security, mitigating potential risks associated with international trade.

Leonwholesale Supply Chain Management Services

Our services include:

Supplier Management

We manage your suppliers, ensuring reliable and consistent delivery. Our team diligently oversees supplier performance, addressing any issues promptly to maintain a smooth supply chain. This service is crucial for businesses that rely on timely deliveries to meet their production schedules.

New Product Development

We assist in the development of new products to meet market demands. Our experts work closely with clients to understand their needs and bring innovative products to life. This service helps businesses stay competitive by continually offering new and improved products to their customers.

Quality Control

We strictly implement quality inspections according to customer requirements. Ensuring product quality is a top priority for us. Our rigorous inspection processes guarantee that the goods meet the highest standards before they reach the customers.

Product Branding

We help in branding products for better market presence. Effective branding can significantly enhance a product's appeal and marketability. Our team assists in creating strong brand identities that resonate with target audiences.

Warehousing

We provide warehousing solutions to store your goods. Our strategically located warehouses ensure that your products are stored safely and are readily available for dispatch. This service is essential for managing inventory efficiently.

Documentation

We handle all necessary documentation for your shipments. Accurate and timely documentation is critical in international trade to avoid delays and ensure compliance with regulations. Our experienced team manages this process seamlessly.

Shipping

We ensure timely and secure shipping of your products. Reliable shipping services are vital to maintaining customer satisfaction. We partner with reputable carriers to deliver your goods on time, every time.

Consolidation Services

If you need different kinds of products, we can consolidate mixed orders from different factories into one major location, whether in Yiwu or any other city. Consolidation services streamline the logistics process, reducing costs and improving efficiency. This service is particularly beneficial for businesses that source multiple products from various suppliers.

Additional Services

Invitation Letter

We provide both Business Invitation Letters and Government Authorized Invitation Letters. These letters are essential for facilitating business travel and ensuring a smooth visa application process. Our team handles the issuance of these letters promptly, supporting your international business activities.

Hotel Booking & Pick-up

We cooperate with most hotels in Yiwu and offer free pick-up from Yiwu airport or highway station. Our hospitality services ensure that your visit to Yiwu is comfortable and hassle-free. We take care of the logistics so you can focus on your business.

Market Guide

Our professional teams guide customers through Yiwu Wholesale Market or factories for sourcing and negotiating the best prices. With our market guide services, you can navigate the vast Yiwu market efficiently, making informed purchasing decisions. Our experienced guides assist in finding the best deals and reliable suppliers.

Sourcing Area

We source from factories all over China, including Tianjin, Qingdao, Anji, Guangzhou, Wenzhou, Zhuji, Dongyang, Zhongshan, Shenzhen, Foshan, Shantou, and Hebei. Our extensive network of factories across China allows us to source a wide variety of products. This geographical diversity ensures that we can meet the specific needs of our clients, regardless of their industry or product requirements.

Quality Control

Our quality inspection team ensures that all cartons, marks, labels, and packages are under control. We pay special attention to fragile and flexible items during loading, whether it's LCL or FCL. Our meticulous quality control processes help prevent damage during transit, ensuring that the products arrive in perfect condition.

Benefits of Working with Leonwholesale

Experience

Over 17 years in international trade and business. Our extensive experience in the industry has equipped us with the knowledge and skills to handle complex trade scenarios. We leverage this experience to provide our clients with reliable and efficient services.

Global Reach

30 subsidiaries worldwide and marketing in over 200 countries. Our global presence allows us to serve clients from different parts of the world, providing tailored solutions that meet their specific needs. We have established strong relationships in various markets, enhancing our ability to support international trade.

Large Workforce

More than 500 staff members fluent in English. Our team of professionals is proficient in multiple languages, ensuring clear and effective communication with our clients. This linguistic capability is crucial for addressing the needs of our diverse client base.

High Volume

Over 15,000 containers shipped per year. Our high shipment volume is a testament to our operational efficiency and reliability. We handle large volumes of goods seamlessly, ensuring timely delivery and customer satisfaction.

Wide Network

Strong relationships with over 50,000 quality factories. Our extensive network of factories enables us to source high-quality products at competitive prices. We collaborate closely with our suppliers to maintain product standards and deliver value to our clients.

Conclusion

Leonwholesale is your reliable partner in China, offering comprehensive supply chain solutions and credit payment terms to help you grow your business. Whether your annual purchasing is less than USD 100,000 or more than USD 100,000,000, we are here to support your needs. Our wide range of services, from product sourcing to quality control and shipping, ensures that we can meet all your supply chain requirements.

For any inquiries about obtaining USD 8,000,000 in credit, please feel free to contact us. Share your WeChat or WhatsApp, and we will respond within 24 hours. Our team is ready to assist you in maximizing your business potential and achieving your goals.