Quoting from [Derry]:
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.
3. How I can believe the company I am going to sell is not fraud?
Thanks to reply in advance.
If your customer is paying you 100%T/T in advance you have no worries from them. Thats the best you can get from a buyer. I don't know how you could consider your buyer a fraud. Once again if they are sending you the money before you ship the items, there can be no fraud. Just confirm that the money is in your account before you ship. The only real thing you have to worry about is can your supplier deliver soon enough for you to complete the transaction in the time you specified.
Derry, esentially what you are doing is acting like a broker. You have no goods on hand, but your customer places an order with you that you must fufill in a specified amount of time. It would be better to check out your supplier than your customer.
If you have questions about Canadian business law you may want to find the member that goes by the name Goldstar or Supraguy as they are both from Canada.