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Post 1 of 6
westproof
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What is the safest form of payment when i import goods?
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17 Feb 2007 04:44
Post 2 of 6

A letter of credit and it is better to be irrevocable is the best method and here is its explanation

http://resources.alibaba.com/topic/30601/A_letter_of_credit_from_a_different_point_of_view.htm

good luck[em1]

17 Feb 2007 13:34
Post 3 of 6
Replying to [westproof]: I would like to know if I decide to buy some good from , how must I pay[em2][em2]
17 Feb 2007 23:38
Post 4 of 6
Try completing a small sample order and see if all stages of the purchase is satisfactory. You can then scale this up depending on building up trust. Never order more than what you can afford to lose. You have to make research on the track history of the company buy asking for suitable references.
I remember once a seller gave 100's of EMS tracking numbers, but not One persons name and phone number so I can contact them and make enquiry about the genuine nature of the seller.
Letters of credit and other forms of Guarantees are only backups and can not be relied on its entirety.
You can also ask your friends or other contacts in the country of dealing about the company you are paying to. Looking at published stastics such as Audited Balance sheet will also help
There are a number of credit agencies in the west such as Dun & Bradstreet or Experian who are willing to give you a credit reference for the payment of a fee. Your bank may also be able to help you obtain a bank reference.
Use the methods depending upon the risk that is involved.
Best of luck with your dealings.
18 Feb 2007 01:11
Post 5 of 6
Quoting from [westproof]:


What is the safest form of payment when i import goods?


100% after inspection  by T/T  or Escrow if you can get your supplier to go along with it.
26 Feb 2007 02:15
Post 6 of 6
Replying to [westproof]: As an importer buy my expiriasnce i will say only D/A, If not all other terms are fully or slightly in faver of the supplier.
24 Mar 2007 04:36
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