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Advice please regarding payment terms
Post 1 of 3
zadokthepriest
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 wish to acquire a small consignement of Ipods, which I hope will lead to bulk orders depending upon the reliability of the supplier.  Having read a number of comments regarding scams, I would welcome advice and comments based upon the supplier's proposed payment terms, which are as follows:

- They  request payment by Western Union from Square Trade.


- They act like a guarantee service.


- I confirm the payment to square trade


- after that they make the shipment


- I receive the package and give OK to Square Trade


- Square Trade release payment to supplier.

I have never traded in this way and would therefore appreciate help and advice.


06 Dec 2005 00:59
Post 2 of 3
Neodudes
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Replying to [zadokthepriest]:



Taken from the official SquareTrade site, i've been offered this b4...



"squaretrade never takes payment on behalf of a seller:
Scam emails will often request the consumer to pay via a money transfer service, such as western union or money gram, an escrow service, or by money order. Beware! Squaretrade will never act as an escrow agent for a seller and will never hold or transfer money on behalf of an auction or seller. "



In short, anything to do with WU is a No No
29 Mar 2006 14:47
Post 3 of 3
Replying to [zadokthepriest]:

Suggest try (a) * biils in your favour, or (b) LC. I know the quantity and amount are samll. But (a) you do not know the supplier well enough; , (b) the supplier does not know you at all, (c) there is risk involved from both sides, (d) LC will cost money, but safety is assured to a great degree.

For a seller, escrow services like the one mentioned are also risky and much worse than LCs. Since you are the buyer, you might try out escrow - but ONLY of a reputed compnay. Do see if it costs LESS than a LC for the same amount (ask your bank). Only then decide.

If the amount is small, and you think you can take the risk to lose the money, you may try offering part payment in advance too.
24 Aug 2007 19:04
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