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Which type of bank will we have to use for ijmport money out of the country international or national?
Quoting from umoorjani:
What happens if the contents are inaccurate with the order ?? If you order computer parts, and they send you something else, how can you protect yourself from that ?
In that case, the documents will not match so you need to tell your bank not to release money to the seller!
I suggest you should not pay them in advance.
You can use alipay .
After you receive the goods and make sure they are what you want, then the money can truely be the sellers'.
Dear Umoorjani,
Your doubt on default by exporter is taken care of by inspection clause in the L.C. This clause specifies that an inspection agency must verify the goods as per specifications in the proforma invoice, secondly, the customs officers conduct inspection of goods & adherence to purchase order is strictly confirmed to & only the a 'let ship order' is provided to the exporter.
Both of these procedures are mandatory & strictly adhered too. In case of eventualities, the importer can also approach the consulate of the exporters country, lodge a complaint & file for arbitration, provided arbitration clause is mentioned in the proforma invoice & insurance on part of buyer also is an added advantage in CIF contracts.
Hope this solves your doubts, please feel free to write to me.
Quoting from umoorjani:
What happens if the contents are inaccurate with the order ?? If you order computer parts, and they send you something else, how can you protect yourself from that ?
Quoting fromrohan121:Hey, awesome post, I just wanted to reply to personally thank you because it seems you know alot on the subject, i'm 22 and live here in america and am trying to get my wholesale business off the ground, I think this resource channel is going to be one of the best things to happen to online trade.Dear Umoorjani,
Your doubt on default by exporter is taken care of by inspection clause in the L.C. This clause specifies that an inspection agency must verify the goods as per specifications in the proforma invoice, secondly, the customs officers conduct inspection of goods & adherence to purchase order is strictly confirmed to & only the a 'let ship order' is provided to the exporter.
Both of these procedures are mandatory & strictly adhered too. In case of eventualities, the importer can also approach the consulate of the exporters country, lodge a complaint & file for arbitration, provided arbitration clause is mentioned in the proforma invoice & insurance on part of buyer also is an added advantage in CIF contracts.
Hope this solves your doubts, please feel free to write to me
Quoting fromumoorjani:
What happens if the contents are inaccurate with the order ?? If you order computer parts, and they send you something else, how can you protect yourself from that ?
Sincerely,
--Rich