T and H Design Limited were commissioned by a luxury car manufacturer to design and manufacture a range of luggage to fit into one of their new models. The design was approved, so therefore T and H arranged for the goods to be manufactured in China from a factory that they had used frequently.
The finance solutions used by T and H in the past did not seem to meet their funding requirement for this deal, as they had to pay initial deposits to the factory and the remaining balance on shipment. This did not work for them because of the 60 days payment terms with the end buyer. This is where TAEFL stepped in to provide a tailored financial solution.
TAEFL checked out the suppliers in China to ensure the credit worthiness. This enabled production to start. When the goods were finished, TAEFL’s in-house shipping team was used to collect the goods from the factory. This consisted of: loading the goods on board the vessel, shipping them to the UK, clearing customs, and delivering them to the car manufacturer, ensuring an end to end service.
The end buyer made payment directly to TAEFL, who thereafter paid the remaining profit to T&H Design Limited.