FAQ (Frequently Asked Questions)
- What advantages could be realized by using Far East Resources versus a direct relationship whether it be through the vendor or an agent/manufacturer's rep?
- By maintaining a presence at both a country & project level, we believe we offer the following advantages:
- Better control
- Enhanced communications
- Increased flexibility
- Does Far East Resources hire agents to manage offshore efforts?
- No, all employees whether state-side or abroad, work for Far East Resources exclusively. By hiring and managing our own employees, this removes any conflicts of interest that exist when dealing with an intricate international relationship.
- What is the background of the people who staff the international purchasing offices?
- This requires a two-part answer; origin and background.
All our offices are staffed by natives of the particular country we are sourcing from. In our opinion, this dissipates all cultural & communications barriers. It is our belief that natives of any given country are in a better position to conduct business with their respective local communities more effectively than we can as Americans.
We have believed from the very beginning that maintaining a mere presence is not enough when purchasing process-intensive commodities like PCBs. This is why all international employees have diverse engineering backgrounds. By maintaining a technical presence at the factory-level, we believe this limits our exposure to error and therefore increases the probability of delivering quality product.
- Does Far East Resources represent the interests of the vendors they source from?
- By design, Far East Resources doesn't maintain or entertain exclusive representation agreements with any of the vendors we do business with. This allows us to function as a representative of our customer's interests to any respective vendors. In addition, this allows us the freedom to take full advantage of whatever the region has to offer, rather than being locked in contractually with any one vendor.
- Why does Far East Resources maintain a presence at a factory-level?
- This provides a greater degree of control (process monitoring, in-line quality evaluation, etc.) Anyone can pick up a phone and place an order with an offshore supplier, but maintaining a technical presence in that factory offers guarantees that are not afforded to you when you have no one looking out for your best interests.
- What type of assurances does Far East Resources offer relative to quality, satisfaction, etc.?
- We don't pay for faulty product, nor do we expect our customers to. Our customers do not become fiscally responsible for purchases made with Far East Resources until such time that product has been approved by their own quality departments. In order to guarantee this level of satisfaction, our engineers must conduct extensive in-line and end-of-line quality auditing.
- Do I have to place letters of credit or deal with currency issues when dealing with Far East Resources?
- Far East Resources finances all purchases for our customer base eliminating the need to deal with popular international business terms and conditions like yearly contracts, currency fluctuations, etc. and extending traditional domestic terms like payment terms, payment in U.S. currency, etc. We believe with services like this, doing business internationally is as easy as doing business next door.
- Who do I correspond with for daily matters? i.e. purchase order entry, engineering change orders, the expediting of orders, etc.
- We maintain both a global and local presence. We have a staffed office in Westborough that functions as an administrative and marketing arm for our international efforts. In addition, we have a network of representatives covering all parts of the U.S. to further facilitate your requirements. All communications, goals, etc. are facilitated by the U.S. office and carried through by the respective international purchasing office.
- Does my company have to pay all charges associated with offshore sourcing? i.e. freight, customs duties, etc.
- No, FERI offer all-inclusive pricing delivered to your door with no additional costs being harbored by our customer base. All pricing quoted takes into account the cost for transit, cost of importation, etc. When receiving quotations from Far East Resources, you can be assured that the price quoted is your total cost of ownership, without any hidden charges or fees.