we are a trading agency of minerals in INDIA. we are now dealing with iron ore fines and coal.
our question is - say for example we have signed an FPA agreement with the seller to protect our commission.
what we can do when the seller becomes direct with the buyer and makes a false understanding and both tells me that they have cancelled the order.
thereafter they without informing me start doing business in between them directly.
IN THIS CASE WE ARE UNWARE OF THE DEVLOPMENTS AND MAY LOSE OUR COMMISSION.
CAN ANYBODY ANSWEAR IT ?
Quoting from [GOSWAMI]:
dear sir,
we are a trading agency of minerals in INDIA. we are now dealing with iron ore fines and coal.
our question is - say for example we have signed an FPA agreement with the seller to protect our commission.
what we can do when the seller becomes direct with the buyer and makes a false understanding and both tells me that they have cancelled the order.
thereafter they without informing me start doing business in between them directly.
IN THIS CASE WE ARE UNWARE OF THE DEVLOPMENTS AND MAY LOSE OUR COMMISSION.
CAN ANYBODY ANSWEAR IT ?
it's really impossible to totally ban this type of link ,but you can make some steps to make sure that will be reduced into a lowest point:
1. set the rule : don't exchange any information directly ,
2. avoid getting them together (e.g. visit the factory)
3. keep the title of yours . don't tell them the factory name , they will find it on internet
4. try to be powerful in trade , to make others trust you
It is the matter of trust and business relationship with our supplier which matters a lot.......-----------------------------------------------------------------------------------
dear sir,
we are a trading agency of minerals in INDIA. we are now dealing with iron ore fines and coal.
our question is - say for example we have signed an FPA agreement with the seller to protect our commission.
what we can do when the seller becomes direct with the buyer and makes a false understanding and both tells me that they have cancelled the order.
thereafter they without informing me start doing business in between them directly.
IN THIS CASE WE ARE UNWARE OF THE DEVLOPMENTS AND MAY LOSE OUR COMMISSION.
CAN ANYBODY ANSWEAR IT ?
![[em19]](http://img.alibaba.com/images/eng/style/icon/emoticons_great.gif){kind=icon}
I agree with huyidao.
Quoting from [GOSWAMI]:
dear sir,
we are a trading agency of minerals in INDIA. we are now dealing with iron ore fines and coal.
our question is - say for example we have signed an FPA agreement with the seller to protect our commission.
what we can do when the seller becomes direct with the buyer and makes a false understanding and both tells me that they have cancelled the order.
thereafter they without informing me start doing business in between them directly.
IN THIS CASE WE ARE UNWARE OF THE DEVLOPMENTS AND MAY LOSE OUR COMMISSION.
CAN ANYBODY ANSWEAR IT ?
Dear Sir.
As stated above, it will never be possible to be fully protected from things like that to happen. Allthough it will be very unetchical.
Once all documents are issued such as NCND, LOI, BCL etc.... any serious buyer will expect to get the offer to visit the mining area for inspection and/or be present at loading port. Lets call it the game of trading, and it is and will alway be a numbers game as you might get/give 50 offers in order to sign ONE contract, and along the way you WILL loose out to some. Both buyers and sellers are shopping for the best offer and NCND and/LOI will be issued in mot cases, even though they are still in the shopping phase. But to bypass the agent to save the small standard fee is LOW.
The standard of gentlemans agreement should come more into play and I hope all companies violating the terms of any gentlemaens agreement should be listed as unetchical.
To play with open cards should not be punished, rather encouraged.
Quoting from [GOSWAMI]:
dear sir,
we are a trading agency of minerals in INDIA. we are now dealing with iron ore fines and coal.
our question is - say for example we have signed an FPA agreement with the seller to protect our commission.
what we can do when the seller becomes direct with the buyer and makes a false understanding and both tells me that they have cancelled the order.
thereafter they without informing me start doing business in between them directly.
IN THIS CASE WE ARE UNWARE OF THE DEVLOPMENTS AND MAY LOSE OUR COMMISSION.
CAN ANYBODY ANSWEAR IT ?
yes, please sign the NCNDA WITH YOUR SO CALLED BUYERS/SELLERS,
ONCE THIS SIGNED PLEASE ASK FOR MFPA
GENERALY 1 USD ETC IS THE COMMISSIONS OFFER FOR THE TRADES
THE MFPA WILL SIGN BY THE BUYERS AND SELLERS AND ENDORCED BY THE SELLERS BANK
THEN U WILL GET YOUR COMMISSION
OTHER WISE IF U HAVE ANY COMPLAINT U CAN FILE A SUIT WITH THE INTERNATIONAL CHAMBER OF COMMERCE
PLEASE CONFORM THAST U HAVE SIGNED THE NCNDA AS PER ICC LAWS
PRAKASK KAMATH,
Quoting from [GOSWAMI]:
dear sir,
we are a trading agency of minerals in INDIA. we are now dealing with iron ore fines and coal.
our question is - say for example we have signed an FPA agreement with the seller to protect our commission.
what we can do when the seller becomes direct with the buyer and makes a false understanding and both tells me that they have cancelled the order.
thereafter they without informing me start doing business in between them directly.
IN THIS CASE WE ARE UNWARE OF THE DEVLOPMENTS AND MAY LOSE OUR COMMISSION.
CAN ANYBODY ANSWEAR IT ?
DEAR SIRS.
IF YOU NOT SURE IN SOMETHING, PLEASE DO NOT DO IT.....
Quoting from [GOSWAMI]:
dear sir,
we are a trading agency of minerals in INDIA. we are now dealing with iron ore fines and coal.
our question is - say for example we have signed an FPA agreement with the seller to protect our commission.
what we can do when the seller becomes direct with the buyer and makes a false understanding and both tells me that they have cancelled the order.
thereafter they without informing me start doing business in between them directly.
IN THIS CASE WE ARE UNWARE OF THE DEVLOPMENTS AND MAY LOSE OUR COMMISSION.
CAN ANYBODY ANSWEAR IT ?
You can do as huyidao has stated, which is clearly advice from an experienced agent/broker or you can take the FPA out of the equasion.
- Simply have the client open a Confirmed, transferable, at sight letter of credit directly to you as first beneficiary and submit documents including a switch B/L that do not name your supplier.
- Have the client open a Confirmed, at sight Letter of Credit to you as beneficiary and then approach your bank for a Back to Back L/C.
- If you have the name for providing good suppliers to buyers, simply charge a flat fee before you bring the two parties together.
Both ways keep the supplier and buyer apart.
Great Agents/Brokers have Value Added Services which they provide buyers and sellers alike. One such service is providing the performance bond for the manufacturer to the buyer. Afterall, if you didnt believe that the supplier could deliver upon the contract why would you even approach them as the buyers supplier. For an Agent/Broker this is merely poduct service insurance which is available through AIG.
Also you could do the bond on your own example:
Deal for products $1,000,000.00USD L/C at sight
PB2% = $20,000.00 cost of PB = $700.00
Commision from deal $50,000.00 - cost of PB $700.00 = Profit $49,300.00USD
Totally worth it for me to put up a PB2% myself.
Adding value to your service is going to secure more an larger amounts from the buyers your dealing with. But you have to invest some time, money and resources in verifying that you are dealing with legitmate sources of the requiered products.
best regards,
Ranger
Me Tech Supply
ME Tech Supply a D. B. A provides sourcing solutions for both small and medium sized businesses. We are members of the GSAA whose Agents have verified more than 2. 5 million companies World WideWe offer low cos...
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Dear Sir,
We have not received our commission payment of USD 1649.00 from Mr. Minjiang Wu of M/s Zhangjiagang Jule Knite Wear Co., Ltd. China who is a gold supplier on Alibaba. We had given them business for 2 containers of yarn 1 year back and still they did not paid our commission. He is not attaending our phone call and not even replying to us on email.
Please let us know what shall we do for our commission.
Regards
Sumit
To protect your commission, I think you need
1. to work with a serious , big seller,
2. Don't show any contact info between the seller and the buyer.
We are a big company, we never do so, we always respect our agent, this is basic business rule, commercial integrity is top than business itself..
We produce massage chair, if you have interest, add my msn to your list, we chat in details, and my email is massagechair@kangtaigroup.com
sincerely
Nancy
MSN:kangtai_nancy@hotmail.com
SKYPE: nancyyw
Quoting from [GOSWAMI]:
dear sir,
we are a trading agency of minerals in INDIA. we are now dealing with iron ore fines and coal.
our question is - say for example we have signed an FPA agreement with the seller to protect our commission.
what we can do when the seller becomes direct with the buyer and makes a false understanding and both tells me that they have cancelled the order.
thereafter they without informing me start doing business in between them directly.
IN THIS CASE WE ARE UNWARE OF THE DEVLOPMENTS AND MAY LOSE OUR COMMISSION.
CAN ANYBODY ANSWEAR IT ?
Quoting from [GOSWAMI]:
dear sir,
we are a trading agency of minerals in INDIA. we are now dealing with iron ore fines and coal.
our question is - say for example we have signed an FPA agreement with the seller to protect our commission.
what we can do when the seller becomes direct with the buyer and makes a false understanding and both tells me that they have cancelled the order.
thereafter they without informing me start doing business in between them directly.
IN THIS CASE WE ARE UNWARE OF THE DEVLOPMENTS AND MAY LOSE OUR COMMISSION.
CAN ANYBODY ANSWEAR IT ?
Dear Goswami,
This is the saddest part when working as commission agent,no one can protect us in such incidents .
Sometime we feel helpless bcz in any deal the buyer and seller are going to know each
other. So better u need to have one end of the business in your control either supplier or buyer then only try to reach the other end.
Take either of them in your confidence then only reach the other end.
" Ship cannot be in Ocean always has to touch one of the shore and need to anchor iteself "
Regds,
Sbshah