6 Tips for importers to avoid being defrauded
1. If the price your supplier offered is much lower than the usual market price, do not send your payment without an investigation. You can search for the company's name on google.com to know more about this company.
2. Whenever possible, meet your business partner in person and visit their company's facilities. Although the internet offers you a wealth of information on your potential partner that enables you to make an initial assessment, there is no substitute for face-to-face contact.
3. Check your business partner's background. Background checks from independent third-party sources include a search for legal registration and credit reports. Check the company's registration details in their country to ensure that the company exists and has a valid registration. If you cannot get access to your partner's registration information, ask your partner to provide you with a Certificate of Good Standing issued by the company registry office in their country/ state/ province. You can also find out more about your partner by ordering a credit history report from a local credit agency. Credit history reports contain information about your partner's business history and their relationships with banks and other trading partners. Try to contact a credit agency, which can provide credit history reports.
4. Negotiate with your partner about transaction details, such as solutions for damaged products, inferior products, delayed delivery etc. If you didn't sign a written agreement, you should keep email records as evidence in cases where trade disputes occur.
5. Protect yourself against poor quality by ordering a pre-shipment inspection of the products. You can demand the inspection as a condition to payment.
6. Protect yourself when ordering or providing samples. As a buyer, order a sample before committing to a purchase order to be sure that the product meets your expectations.
Last edited by amandaiec : 09-10-2008 at 10:52 PM.
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