Building security among trading partners
Author: James
For greater security, we suggest that you adopt the measures when contacting potential business partners through the Internet

For greater security, we suggest that you adopt the following measures when contacting potential business partners through the Internet:

  • Ask for phone and fax numbers, call the numbers provided to confirm that they are available at the certain numbers. 

  • Check with the business registrar in the country of the supplier to ensure that the business is legitimate and licensed.

  • Pay for a sample before purchasing in bulk to be sure that the product meets your expectations.

  • Ask for an inspection service to ensure the products meet the required general standard and coincide with the provided samples.

  • Do not pay for products in cash but through L/C or D/P instead. 

  • If the trader keeps on talking about payment or other sensitive issues rather than pursuing regular business processes, more attention should be paid to the transaction.

  • Be prepared to take legal measures in the event of any trade dispute

 

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Building security among trading partners
by alie on 10 Feb 2006 01:44
Replying to dylan9:

The basis of payment is very important because I have the similar experience.

Re: Re: Building security among trading partners
by latyakzs on 24 Oct 2006 04:59
Replying to [dylan9]: Ask for a LOI (Letter of Intent).It must contain all the info about the company, and must be signed and stamped, and sent by fax.

Re: Building security among trading partners
by Deepali on 10 Nov 2006 23:19
Replying to [James]:Good information, it is always better to take precaution. As it is said "Prevention is better then cure" [em2]

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