Quotation, Payment & Delivery Cycle

Q: How long is your quotation valid?

A: Affected by fluctuations in steel raw material prices, our regular quotation is valid for 7 to 15 days. We can update the latest market price free of charge within the validity period to protect customer interests.

Q: What international payment methods do you accept?

A: Our preferred payment term is T/T, L/C sight and CAD are acceptable upon mutual agreement.

Q: What is the regular order delivery cycle?

A: Spot products can be shipped within 3-7 working days. Regular customized rolling orders take 15-30 working days. Special alloy and special heat-treatment customized orders take 30-60 working days. The final delivery time is subject to the formal contract signed by both parties.

Q: What trade terms does your company support? What are the differences between FOB, CFR and CIF?

A: Our company supports three mainstream maritime trade terms: FOB, CFR and CIF (INCOTERMS 2020), which are applicable for sea and inland waterway transport. The core rules are unified as follows: After the goods are fully loaded on the vessel at the Chinese port, all transportation risks of the goods are transferred from the seller (our company) to the buyer.
1. FOB (Free On Board): The quotation covers product cost, packaging fee, domestic transportation and export customs clearance fee. The buyer shall be responsible for arranging ocean freight and purchasing marine insurance.
2. CFR (Cost and Freight): The quotation covers product cost, domestic charges and full ocean freight. The buyer shall independently purchase marine insurance and bear all sea transit risks.
3. CIF (Cost, Insurance and Freight): The quotation covers product cost, ocean freight and minimum marine insurance premium. Our company only provides insurance agency service, and all cargo transit risks shall be undertaken by the buyer after shipment.
All trade terms strictly comply with INCOTERMS 2020 regulations, and the specific delivery port and terms will be subject to the confirmed Proforma Invoice.

Q: Why is the CIF price higher than FOB?

A: Because the CIF quotation includes ocean freight and marine insurance fees, while FOB only covers domestic shipment costs in China.

Q: Does your company take responsibility for cargo damage during transportation under CIF terms?

A: No. Risks are automatically transferred to the buyer after goods are loaded on board. We only purchase insurance on behalf of the buyer, and all risks occurring during transportation are borne by the buyer.