Extract from globalsources

Supplier requests payment by Western Union only.
While Western Union provides a great service, it is very difficult to confirm and/or track down the person that received the funds, hence scammers like Western Union. With a ****, at least you can (in theory) get details on the owner of the account as part of a prosecution. Most experienced suppliers do the majority of their financial transactions by wire transfer; if a supplier only accepts Western Union, they unlikely to be an experienced exporter and more likely to be fraudulent.

Supplier requests payment to a **** that appears different than the company account or company name.

In most cases, this will actually be a legitimate request. The supplier may be operating under a new legal entity; his account may not yet be set up to accept foreign currency, etc. To protect itself, one western company that has been confronted with this issue several times asks the supplier sign and chop a letter saying that they are requesting the funds be sent to another account, and that the supplier will treat payment to that account as payment to themselves. Another Western company says they ask both the business owner and the **** owner to sign and chop such a letter.

There are also tax reasons at work here. China has a 17% tax and therefore to remain competitve a company may request you transfer to a personal account rather than a company account. Unless you are willing to pay an additional 17% on top of the price quotes it is worth noting this point.

Quoting from [Remus]:

Extract from globalsources

Supplier requests payment by Western Union only.
While Western Union provides a great service, it is very difficult to confirm and/or track down the person that received the funds, hence scammers like Western Union. With a bank account, at least you can (in theory) get details on the owner of the account as part of a prosecution. Most experienced suppliers do the majority of their financial transactions by wire transfer; if a supplier only accepts Western Union, they unlikely to be an experienced exporter and more likely to be fraudulent.

Supplier requests payment to a bank account that appears different than the company account or company name.


In most cases, this will actually be a legitimate request. The supplier may be operating under a new legal entity; his account may not yet be set up to accept foreign currency, etc. To protect itself, one western company that has been confronted with this issue several times asks the supplier sign and chop a letter saying that they are requesting the funds be sent to another account, and that the supplier will treat payment to that account as payment to themselves. Another Western company says they ask both the business owner and the bank account owner to sign and chop such a letter.

There are also tax reasons at work here. China has a 17% tax and therefore to remain competitve a company may request you transfer to a personal account rather than a company account. Unless you are willing to pay an additional 17% on top of the price quotes it is worth noting this point.

Any payment method is safe for you if your business partner is reliable enough and no payment method is safe if your business partner is a professional scammer. Even for L/C, there are some fake documents could rip you off sometimes!

Do you need auto fuse? If you need ,you can have a look,this is our website,not all our products there. http://trade.meritline.com/Changzhou-Zhanhui-Automobile-Accessories-Factory_trade_5274   ,http://www.made-in-china.com/showroom/autofuse.       Should any of the products be of interest to you,please contact me,my MSN is siszll@live.cn,  the e-mail address too.

 

Quoting from [Business in China]:

Quoting from [Remus]:

Extract from globalsources

Supplier requests payment by Western Union only.
While Western Union provides a great service, it is very difficult to confirm and/or track down the person that received the funds, hence scammers like Western Union. With a bank account, at least you can (in theory) get details on the owner of the account as part of a prosecution. Most experienced suppliers do the majority of their financial transactions by wire transfer; if a supplier only accepts Western Union, they unlikely to be an experienced exporter and more likely to be fraudulent.

Supplier requests payment to a bank account that appears different than the company account or company name.



In most cases, this will actually be a legitimate request. The supplier may be operating under a new legal entity; his account may not yet be set up to accept foreign currency, etc. To protect itself, one western company that has been confronted with this issue several times asks the supplier sign and chop a letter saying that they are requesting the funds be sent to another account, and that the supplier will treat payment to that account as payment to themselves. Another Western company says they ask both the business owner and the bank account owner to sign and chop such a letter.

There are also tax reasons at work here. China has a 17% tax and therefore to remain competitve a company may request you transfer to a personal account rather than a company account. Unless you are willing to pay an additional 17% on top of the price quotes it is worth noting this point.

Any payment method is safe for you if your business partner is reliable enough and no payment method is safe if your business partner is a professional scammer. Even for L/C, there are some fake documents could rip you off sometimes!

Quoting from [Remus]:

Extract from globalsources

Supplier requests payment by Western Union only.
While Western Union provides a great service, it is very difficult to confirm and/or track down the person that received the funds, hence scammers like Western Union. With a bank account, at least you can (in theory) get details on the owner of the account as part of a prosecution. Most experienced suppliers do the majority of their financial transactions by wire transfer; if a supplier only accepts Western Union, they unlikely to be an experienced exporter and more likely to be fraudulent.

Supplier requests payment to a bank account that appears different than the company account or company name.


In most cases, this will actually be a legitimate request. The supplier may be operating under a new legal entity; his account may not yet be set up to accept foreign currency, etc. To protect itself, one western company that has been confronted with this issue several times asks the supplier sign and chop a letter saying that they are requesting the funds be sent to another account, and that the supplier will treat payment to that account as payment to themselves. Another Western company says they ask both the business owner and the bank account owner to sign and chop such a letter.

There are also tax reasons at work here. China has a 17% tax and therefore to remain competitve a company may request you transfer to a personal account rather than a company account. Unless you are willing to pay an additional 17% on top of the price quotes it is worth noting this point.

Yes, it just what this articals says. Tricks will never stop, bet as long as you are smart and not sense controled, no one can trap you anyhow.

Remus - you may want to point out the fact that circumventing the taxes is illegal.  If you are doing legitimate business, then most likely you have calculated the 17% in all of your price quotations.  If not and you circumvent the taxes there can be big trouble for someone. 


Quoting from [Remus]:

Extract from globalsources

Supplier requests payment by Western Union only.
While Western Union provides a great service, it is very difficult to confirm and/or track down the person that received the funds, hence scammers like Western Union. With a bank account, at least you can (in theory) get details on the owner of the account as part of a prosecution. Most experienced suppliers do the majority of their financial transactions by wire transfer; if a supplier only accepts Western Union, they unlikely to be an experienced exporter and more likely to be fraudulent.

Supplier requests payment to a bank account that appears different than the company account or company name.


In most cases, this will actually be a legitimate request. The supplier may be operating under a new legal entity; his account may not yet be set up to accept foreign currency, etc. To protect itself, one western company that has been confronted with this issue several times asks the supplier sign and chop a letter saying that they are requesting the funds be sent to another account, and that the supplier will treat payment to that account as payment to themselves. Another Western company says they ask both the business owner and the bank account owner to sign and chop such a letter.

There are also tax reasons at work here. China has a 17% tax and therefore to remain competitve a company may request you transfer to a personal account rather than a company account. Unless you are willing to pay an additional 17% on top of the price quotes it is worth noting this point.

I would like to enquire as to whether the following payment type is the norm for importing from China.

 

1): shipment sent by air: 30% depoist, 70% balance before delivery( 

2): shipment sent by sea: 50% depoist, 50% balnace against document, before the goods arrived

     your destination port 7-10 days, you pay the balance and we will send you all documents upon

     receipt of your balance payment, one thing you can have 3-4 weeks for funds round, the other thing you can make sure we send the goods, but you have to pay the balance before you can get

     all original documents which you must need to clear customs for the shipment.

 

Is this acceptable?

Quoting from [Business in China]:

Quoting from [Remus]:

Extract from globalsources

Supplier requests payment by Western Union only.
While Western Union provides a great service, it is very difficult to confirm and/or track down the person that received the funds, hence scammers like Western Union. With a bank account, at least you can (in theory) get details on the owner of the account as part of a prosecution. Most experienced suppliers do the majority of their financial transactions by wire transfer; if a supplier only accepts Western Union, they unlikely to be an experienced exporter and more likely to be fraudulent.

Supplier requests payment to a bank account that appears different than the company account or company name.



In most cases, this will actually be a legitimate request. The supplier may be operating under a new legal entity; his account may not yet be set up to accept foreign currency, etc. To protect itself, one western company that has been confronted with this issue several times asks the supplier sign and chop a letter saying that they are requesting the funds be sent to another account, and that the supplier will treat payment to that account as payment to themselves. Another Western company says they ask both the business owner and the bank account owner to sign and chop such a letter.

There are also tax reasons at work here. China has a 17% tax and therefore to remain competitve a company may request you transfer to a personal account rather than a company account. Unless you are willing to pay an additional 17% on top of the price quotes it is worth noting this point.

Any payment method is safe for you if your business partner is reliable enough and no payment method is safe if your business partner is a professional scammer. Even for L/C, there are some fake documents could rip you off sometimes!

Yes, you are right.

Quoting from [lmyers17]:

I would like to enquire as to whether the following payment type is the norm for importing from China.

 

1): shipment sent by air: 30% depoist, 70% balance before delivery( 


2): shipment sent by sea: 50% depoist, 50% balnace against document, before the goods arrived


     your destination port 7-10 days, you pay the balance and we will send you all documents upon


     receipt of your balance payment, one thing you can have 3-4 weeks for funds round, the other thing you can make sure we send the goods, but you have to pay the balance before you can get


     all original documents which you must need to clear customs for the shipment.


 


Is this acceptable?

Good,thank you.I am in my business at a start.

Quoting from [Remus]:

Extract from globalsources

Supplier requests payment by Western Union only.
While Western Union provides a great service, it is very difficult to confirm and/or track down the person that received the funds, hence scammers like Western Union. With a bank account, at least you can (in theory) get details on the owner of the account as part of a prosecution. Most experienced suppliers do the majority of their financial transactions by wire transfer; if a supplier only accepts Western Union, they unlikely to be an experienced exporter and more likely to be fraudulent.

Supplier requests payment to a bank account that appears different than the company account or company name.


In most cases, this will actually be a legitimate request. The supplier may be operating under a new legal entity; his account may not yet be set up to accept foreign currency, etc. To protect itself, one western company that has been confronted with this issue several times asks the supplier sign and chop a letter saying that they are requesting the funds be sent to another account, and that the supplier will treat payment to that account as payment to themselves. Another Western company says they ask both the business owner and the bank account owner to sign and chop such a letter.

There are also tax reasons at work here. China has a 17% tax and therefore to remain competitve a company may request you transfer to a personal account rather than a company account. Unless you are willing to pay an additional 17% on top of the price quotes it is worth noting this point.

If your clients trust you, any payment method is ok. Personally, I prefer to use western union. T/T, paypal are optional.

If your clients trust you, any payment method is ok. Personally, I prefer to use western union. T/T, paypal are optional.

Never, never, never use Western Union for business. It is for transferring money to relatives, not for business. Anyone who says differently is probably a scammer themselves.

Quoting from [Remus]:

Extract from globalsources

Supplier requests payment by Western Union only.
While Western Union provides a great service, it is very difficult to confirm and/or track down the person that received the funds, hence scammers like Western Union. With a bank account, at least you can (in theory) get details on the owner of the account as part of a prosecution. Most experienced suppliers do the majority of their financial transactions by wire transfer; if a supplier only accepts Western Union, they unlikely to be an experienced exporter and more likely to be fraudulent.

Supplier requests payment to a bank account that appears different than the company account or company name.


In most cases, this will actually be a legitimate request. The supplier may be operating under a new legal entity; his account may not yet be set up to accept foreign currency, etc. To protect itself, one western company that has been confronted with this issue several times asks the supplier sign and chop a letter saying that they are requesting the funds be sent to another account, and that the supplier will treat payment to that account as payment to themselves. Another Western company says they ask both the business owner and the bank account owner to sign and chop such a letter.

There are also tax reasons at work here. China has a 17% tax and therefore to remain competitve a company may request you transfer to a personal account rather than a company account. Unless you are willing to pay an additional 17% on top of the price quotes it is worth noting this point.

So to know the company's characteristics before cooperation is so improtant.