by Tekle Sebhatu
Question:
I don't know where to begin. I've been a free member of Alibaba for about six months, and have been contacted by numerous individuals to buy my items and to sell to me. However, being new to selling on this international level, I'm reluctant because I feel uncomfortable with the contacts. On both sides, I've asked for references and have not received anything but responses like "I'm an honest person and would not cheat you." I know there is a major problem with fraud in China as I've purchased some "fake" items there. Also, people want you to use Western Union. I sell on Ebay and they certainly discourage it. My questions are:
Answer:
There is no formula that I know that can help conclusively prove the legitimacy of a buyer or seller. You have to thoroughly research the buyer or seller and try to build a long lasting business relationship. Once you know the seller or the buyer, depending how much risk you want to take, you have several payment options, including open account, advance payment, consignment, documentary collection or letter of credit. Building trust and a solid relationship are the first step.
Re: Contacted by numerous
by mindgammon on 13 Apr 2006 09:07
Replying to [PosterBoy]: If that is a major concern, and it is a good one. Use Trust Pass and only deal with customers who have it. It takes a week, but they verify everything. I will say my fraud emails are up dramaticly ( you know, help me please get my 6.5m in american dollars, cant get it because my husband was president of Nirobi) I am getting tired of those. But my sudgestion is, Trust Pass
Good Luck
Re: Re: Contacted by numerous
by jacq on 23 Oct 2006 01:16
Replying to [mindgammon]:My company not planning to register with TrustP *. Anyone, meet the buyer face-to-face before get a business deal? I suppose not many will did that. I suggest meet the buyer in Trade Show first, check company background from valid source of information, http://wck2.companieshouse.gov.uk/, or yellow pages. Ignore the email with content "I am honest". About the contact info. if I am not mistaken, when we register with alibaba, company fix line phone number and fix line fax number is mandate. For my case, my boss are an agent, he use mobile, he do not have his own fix line phone and fax machine. Even I also cannot believe. A conservative man. So, our phone number and fax machine number is a house number of a friend. Do call my boss's mobile number. thanks......
Re: Contacted by numerous 'buyers'
by plasticMaker on 16 Apr 2007 06:47
Replying to [Resources]:
We face the same issue on our side.
How you determine authenticity depends a lot on what customer base you are catering to?
Our customers are mid-size business (and not indiviuals).
Our product is not something that you would see on a brochure and order. It is something that calls for extensive communication between the buyer and the supplier. For us, any buyer, that is reluctant to communicate is not an authentic buyer.
We usually pick up the phone, call the buyer, learn more about the company and its products, introduce ourselves and forward on the quotation.
We avoid responding to @hotmail or @yahoo email address.
But again, like I said before, the way you handle buyers depends a lot on what you are selling. If you are selling items that could be sold on Ebay then most of your buyers would be indiviuals with and free email address. There is really no fool-proof way of determining their authenticity. You could always call, but that proves nothing.
Hope this helps!
Tt (telegraphic transfer), * bill etc. vs. lc (letter of credit)
Author: Catalyst
Back to back letters of credit
Author: Catalyst
The original LC and the one issued against it are independent. See how it works.
