Quoting from [trademaster]:can anybody tell me what is L/C andT/T?
Thanks.
well, L/C IS - LETTER OF CREDIT
AND T/T IS TELEGRAPHIC TRANSFER
Quoting from [Villa]:Quoting from [Monocurio]:I need some help and advice... please help!!!!!!!
I'm new to this game and my seller preffered an escrow company which called World delivery Inc, It is located in Italy. At first the escrow company's website is www.Onlinedeliverys.com. A few days later which is now the website had changed to www.Online-deliverys.com They request to send western Union instead of wire transfer. I can't find the company's phone number any where in the website. Plus the western Union receiver's adress is an agent's name (personal) and it's different with the adress listed on the website. I suposed to send the money today or tomorrow but I don't feel secure at all. What should I do now???
Be careful!! Sounds like suspicious....
Quoting from [contak]:What if the buyer ask to use T/T? This type of transaction scares me as a small business owner. I dont trust giving out my banking information to anyone.
This is why I choose a payment gateway such as paypal or greenzap or bidpay for money orders. Lately the scammers are trying to use moneygram.
What makes a person think that someone will send products with out payment?
There are so many scammers now it is hard to discern who is real and who is not.
Do I trust a buyer who wants to use T/ T?
T/T is good
Quoting from [sgmo666]:Hello,
I need some help to advice, what should to do, please help!!!
I have found by alibaba a seller, whose is based in UK and I am still checking, whether the phone, fax-no and address is right or not. Anyway, he prefered, that the shipping/payment will be made using by "aplus-transport.com". Does anyone know this kind of shipping/payment transaction? Is it 100 % safe?
Here comes how we are going to do :
1. Seller will ship the products with : aplus-transport.com.
2. They will contact me and let me know that I sent you the products and the
status of the products .
3.I will transfer the money to aplus-transport.com.
4.I will receive the products and check them , test them etc.
5. I have 5 days to inspect the goods. I must confirm to aplus-transport.com
that the products are as I expected to be so seller can receive my money from them.If I am not satisfied of the products he sent , they will come , pick up the
products and give all my money back. Seller will have to pay again the shipping
taxes to receive the products back .Do anybody know and had good experience with aplus-transport.com? Is this way better than escrow??
Thanks for your help in advanced.
Helen
I also had someone asking me to pay that way - did you end up doing it?
What was the result?
In my case it was for tomtom go700
Best,
Guoli
Denmark
But I heard in some country buyers can get the goods with the copy of B/L, it is risky.
Also maybe there are scamers who will eat the 30%, But I think most serious Chinese suppliers won't do that, anyway, this method is based on trust.
Dear traders
When trading internationally I recommend to you the following tips:
1) If you need to pay in advanced, you must deposit ever in bank accounts where beneficiary is the company name where you want to buy. Don't make payments in personal accounts, what if you find an angry employee that give you other account number? Do you want a legal contest in other country, specially if it is an emerging one?.
2) The seller will tell you ever "you must trust", "I have reputation", etc. However, do you think they trust in you? why they request payments in advanced, because they trust in you?, They want to protect their interest, the same you must do.
3) if possible, look for seller who accept L/C or "escrow.com" (which is the same than letters of credit but online and with low cost). You must search for good prices but secure deals too. the buyer looking good prices only is the ideal person to swindle, and good prices is his bait. Security will cost to you a few dollars more, but it is worthwhile. In example, with escrow.com, you pay a 5% fee, $500 per each $10000 !!!!, tell me if this is not worthwhile.
4) Finally memorize this: "before payment you put your conditions, after payment conditions are imposed to you".
Have you good deals.
Luis López.
Sir,
Iam a Nigerian, I have tried hard for the past 7month to get genuine person who we can buy kraft waste paper from such as Multiwall bag, Cement paper bag(w.p) and general kraft waste.
Uptill present day I could'nt get resposible human being, my problem is some people prefer T/T payment While I assure them we will open L/C for them but if they gone they don't want revert to me again.
I 100% prefer L/C for payment.
Reagards,
Mr. A. Idris Ahmed.
Quoting from [Hawkhunter]:
T/T offers the worst security for the buyer. Escrow is better, but never use the one "preferred" by the seller. It should be mutually agreed upon. L/C can offer some securtiy as well. Never use T/T, you're talking all the risk as a buyer.
As a seller, I don't totally agree with ur opinion. I've been experienced many fraudulent cases being a seller u know. They usually just want to gett "free goods" and they disappear right after they got them. I used advance T/T now , and it works fine with me even though I did lose some potential customers. But in an opposite way, It reduces sellers risks of being scamed.
I would like to point out , PayPal is one of the good way for small orders for both buyers and sellers. But the billing address match shipping address exactly. Or you could be in troubles either.
If anyone would like to make me a friend, please feel free to drop a note to me. my company sells traditional and modern Chinese Arts&Crafts. gift items.