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2010-05-11 22:42:59 (4497 views) As you know we've been waiting for over a week for the PCB assembly guys to get the company credit card which they said they had many times but actually didn't. This morning they asked for an agreement from us saying the bank needed it. Does the bank really need us to agree? Don't think so...
Turns out they were asking for a letter of credit (xinyongzheng) not a credit card (xinyongka). Apparently nobody knows the difference nor do they have the slightest recollection of the purpose this was supposed to serve (have a receipt in their name for the VAT refund).
Our Chinese visa is expiring and the living conditions here are starting to take a heavy toll - so we decided to go ahead and send them what they need to begin recreating the boards even though we don't know how the VAT refund thing will turn out. At this point we'll accept a 17% loss on components rather than try to do everything perfect, possibly delaying launch and spending more time here...
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