The Middleman liability
Post 1 of 7
I am new to this business and would like to assume the role of a middleman between a potential buyer and a seller.
The deal is about supplying goods on a monthly basis for 6 months. My question is, after the deal is closed and I receive my commission am I legally liable for anything that can go wrong between the two parties during or after the 6 months period?
And if I incorporate myself, would that give me any extra legal protection?
The deal is about supplying goods on a monthly basis for 6 months. My question is, after the deal is closed and I receive my commission am I legally liable for anything that can go wrong between the two parties during or after the 6 months period?
And if I incorporate myself, would that give me any extra legal protection?
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12 Dec 2007 07:08
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Post 3 of 7
Replying to [New trader]:Maybe you should consult the right person.
14 Dec 2007 00:25
Post 4 of 7
Replying to [New trader]:
If you are a mandated agent, you may have some legal obligations. Otherwise as a regular intermediary, you need not worry much. You can sign Fee Protection Agreement and NCND for some assurance. Unless you prove your worth by doing some due diligence and co-ordination, people usually forget you. Adding your name as facilitator in the contract gives some more protection.
If you are a mandated agent, you may have some legal obligations. Otherwise as a regular intermediary, you need not worry much. You can sign Fee Protection Agreement and NCND for some assurance. Unless you prove your worth by doing some due diligence and co-ordination, people usually forget you. Adding your name as facilitator in the contract gives some more protection.
14 Dec 2007 06:39
Post 5 of 7
Replying to [New trader]:well is it necessary for you to clear at the time when you are settling that you will not be responsible for any claims after shipment if you did not then you certainly will be in problem because they will claim that you did not clear these points before or at the time of shipment
15 Dec 2007 00:42
Post 6 of 7
Replying to [New trader]:
Hello there,
Here is the whole deal about middle mans.
- If you have been hired by the buyer to get the goods, and are being
used as a security point to control the payment and the goods,
then you are liable for all losses, mistakes and etc. incured since
that would be your function not to let that happen.
- If you are on the seller side, then you are in charge of receiving
the payment from the buyer, in case the payment doesn´t come
on time, you are liable for losses incured. And also become liable
on the buyer complain about anything, but not financially. This type
is suggested the most, since its more or less on mutual
understanding, and only have small limitations. And the only thing
which is suggested in this case is to have a contract with the seller
not to override you, and buyer protection whom ever you bring to
him.
- The best possible thing that can be is that you connect buyer
and seller, bound by contract which cannot do a business without
your consent, should they have done so, then they are liable for it.
In addition to that for any deals incurred you will get commission.
- Contract based Middleman, which basically means you have been
hired by either side to complete the deal, this is quiet difficult
since due to even smallest delays, and payment issues, you
become liable on both sides, so watch out for the types of contract.
- The major problem though you will be facing is if you bring to parties
together, mostlikely the buyers will always try to override. So like I
already pointed out, the second suggestion is the best way to go.
Good Luck.
Hello there,
Here is the whole deal about middle mans.
- If you have been hired by the buyer to get the goods, and are being
used as a security point to control the payment and the goods,
then you are liable for all losses, mistakes and etc. incured since
that would be your function not to let that happen.
- If you are on the seller side, then you are in charge of receiving
the payment from the buyer, in case the payment doesn´t come
on time, you are liable for losses incured. And also become liable
on the buyer complain about anything, but not financially. This type
is suggested the most, since its more or less on mutual
understanding, and only have small limitations. And the only thing
which is suggested in this case is to have a contract with the seller
not to override you, and buyer protection whom ever you bring to
him.
- The best possible thing that can be is that you connect buyer
and seller, bound by contract which cannot do a business without
your consent, should they have done so, then they are liable for it.
In addition to that for any deals incurred you will get commission.
- Contract based Middleman, which basically means you have been
hired by either side to complete the deal, this is quiet difficult
since due to even smallest delays, and payment issues, you
become liable on both sides, so watch out for the types of contract.
- The major problem though you will be facing is if you bring to parties
together, mostlikely the buyers will always try to override. So like I
already pointed out, the second suggestion is the best way to go.
Good Luck.
15 Dec 2007 16:41
Post 7 of 7
Hi I'm a middleman here in the Philippines, i make sure that suppliers only receive their payment when buyers confirm their receipt of the goods. This was due to common scam transactions where sellers just run away with the buyer's payment. (in which i was also a victim). I could easily facilitate payment because i work in a bank. I accomodate transactions from international to local but i think local to local transactions are much easier to facilitate. Just looking for a small way to earn extra income from work. Just contact me if anyone is interested. ok?.. See ya...
12 Jun 2009 00:13
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