| 1 |
My Chinese supplier demands a bank LC. Can I still use Octet?
Absolutely, we understand some manufacturers choose to operate this way. We offer a service called 'Octet arranged LC'. For more information, see Types of Business Transaction Facility. |
| 2 |
Can my Octet account be used to make purchases other than imports from China?
Currently your account can only be used make transactions on imported goods from China. In the future you will be able to use your Business Transaction Facility to purchase goods from local suppliers. |
| 3 |
Can I only deal with my existing Chinese suppliers on the Octet network?
No, you're free to deal with any supplier company registered on the Octet website. In fact, using Octet allows you to find and contact new suppliers who are already members of Octet. |
| 4 |
Can I use the Octet portal to transact but settle the supplier invoice myself?
Yes, this is called a Buyer Direct Payment. For more information, see Types of Business Transaction Facility. |
| 5 |
Is Octet a document management application?
With the Direct Payment Facility, Octet takes care of all the financial aspects of an import/export transaction, but it doesn't handle shipping or customs documentation. |
| 6 |
Is Octet associated with a major bank?
No, Octet is an independent company, operated by finance and trade professionals with decades of experience in Australia, China, and around the world. |
| 7 |
How can Octet provide unsecured finance when banks do not?
A better question is Why don't banks offer unsecured business finance? |