Hi all,

Like to find out in FOB trade, what will happen if my buyer or my seller declare bankruptcy? What are the steps to do to protect the company's interests?

Thanks for your attention

Quoting from [cleo]:

Hi all,

Like to find out in FOB trade, what will happen if my buyer or my seller declare bankruptcy? What are the steps to do to protect the company's interests?

Thanks for your attention

just get letter of credit from the buyer...

the bank wil send you the money once the good are delivered.

Try to get the money back . and find a nother big company to do it for u.

From that thing ,we need to visit to the company to enstimate if the company could to do my order .

Sunny yinzhi

Quoting from [cleo]:

Hi all,

Like to find out in FOB trade, what will happen if my buyer or my seller declare bankruptcy? What are the steps to do to protect the company's interests?

Thanks for your attention

I don`t think its possibility , More attantion should be paid on your buyer,  under Fob item , your seller will like it and execute your P.O. , If your supplier declare it , maybe it is just his excuse for cancelling the order, reason for it  maybe the profile to low or early have`t . so quit up your order , if your buyer declare bankcruptcy ,  It will have too much adventure . if he cancel the order, how come you and your suppiler, so I think the best payment item is 30 % deposit and balance cleared before shipment , if the cargo value too much , plz take the LC at sight , applicant bank will promise you the payment as long as your well presention of documents

Hope my comments can help you .wish everybody`s business smoothly

Bruce Li