Hello ,
I am new to business and trying to get some order. I am in touch with one company they are buying stuff through me.
Thsy have almost finalized the order and asked me to provide the deatils of my bank etc.
They will pay me by upfront TT.
My question is , since I am buying from one company and selling to this company,
1. what is upfront TT payments and how safe is to give my bank details.
2. What if they didnt buy the stuff , which they ordered.
Please advise.
3. How I can believe the company I am going to sell is not fraud?
Please advise.
Thanks to reply in advance.
Regards,
Derry

Replying to [karims]:

Replying to [Ranger]:T/T (Telegraphic Transfer) this mean payment that u can send money fectory first time (if company agree) 50% of money and before loading 50% and everything will be ok

Replying to [Derry]:From which country is your buyer??If its from some African country, think twice

Replying to [Derry]
I think it deside up on you trade term!
As you said,for T/T,first 30% in advance,40% after the first sample,30% before shipping,In this way,it more safe,at the same time you shoud make sure that the pay has arrived you account,

in common,the delivery date depend ons purchaser's payment

Replying to [Derry]: i get a lot of request ,some boldly asking for bank info by loving and needing my product but caution is always best, you know by having the name and some info and the routing and account number they can draft as much money out of the account with much less restriction than a check. my suggestion is to verify the company through some means like embassy, their local chamber of commerce and some company documentation, then you open a new account with minimal amount of money just for that transaction in case they tried to withdraw they can only get dinner money, but if they send the money you are one * of a lucky people to get 100% T/T.
good luck
Tony

Replying to [Derry]: If you are dealing with a buyer from an African country, then they are 99% a money cleaners, you will get into trouble if you send them your bank details.Be careful.

Replying to [Derry]:i have been working with too many companies and sell my goods to them but till yet they haven'y buy my materials with t/t payment.
i don't know why.but.......... be careful.
thanks

Replying to [Varun]: I'm totally agreeing with your reply to Derry. There will be no harm to get full paid and finalize the deal. Checking through dnb could be fine as he is able to get almost all the companies which had business deals. However, never can be %100 sure. Advance TT, especially fully paid. Giving bank account will not be a problem if the counterparty has nobody working in that bank and in the branch that Derry works.

I put a longer letter at first but it did not appear in the list, so I'm trying to keep it short this time. My point is related to the last statement in your message, being a member of a company in business for the last 20 yrs, how come a businessman can very easily put such comment about nations even had trouble with some companies in those countries? I really could not understand how closer is India to Canada then Africa or Turkiye? There has always been frauds in almost all countries and there will be in the future, this is the nature of business. As long as somebody fools around will attract such companies and/or people in business environment. If somebody had a problem with an India based company and make such comment for your country I would not be happy as well. So, I hope this unpleasent and unfaith comment done unintentionally by you and will not happen for any other countries any more.

Even if you are naming a company or a person in this way, you should be sure that such comment should be for the benefit of the people in this environment. Otherwise it will be just a gossip.

Good luck to all of you

Kutsal Durace
Prizma Tekstil
Turkiye

Replying to [Ranger]:

If this is from Nigeria or any West African countries, do not give your Bank account details. We had enough of this T/T business. They all are ready to pay by T/T for Computers. Laptops., A/C Machines but after you send them the Bank details, nothing happens and " And are quite in the western Front". So Be careful.

Replying to [Derry]:Hello i am George Dvanadze. T/T is telex transfer.bank transfer.when i send maney to factory i often send 30% of deposite and when production finished 70%.thank you for quastion.