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Safety Tips For Doing Business On B2b Marketplaces
1. Confirm Contact details Always verify that the contact information such as the address, phone number and email do actually belong to the company in question. Do a search in a local directory and call up the company to make sure that the person really works there. 2. Check company background information Ordering a simple credit report can save your company a lot of headaches. These reports cost between $70.00 USD to $300.00USD and gives you the legal and financial history of any given company. With this information, you can decide if you want to proceed with business transactions. 3. Test the seriousness of the buyer or seller Ask many technical questions such as quality certification, certificate of origin, spare parts and other specific details about your products. This will quickly tell you if the potential partner is serious or not. 4. Research the market value Look for the market value of the products you are interested in. If the seller is promoting prices that are too good to be true then you should start to be suspicious. 5. Meet your potential business partner in person After doing all verifications suggested in point 1 and 2, try to meeet your business partner in person and visit his company's facilities. While the internet offers you a wealth of information on your potential partner which enables you to make an initial assessment, there is no substitute for face-to-face contact. In doubt, contact the local embassy or consulate for help, guidance and tips in order to better plan your trip. 6. Be cautious when ordering or providing Samples As a buyer, order a sample before committing to a purchase in order to be sure that the product meets your expectations. As a seller, request payment for a sample before you send it, especially if your product has a high resale value. 7. Use Pre-shipment services As a buyer, you can avoid products that do not meet your requirements by ordering these services. 8. Protect Yourself Against advanced Payment Risk If you are a buyer, sometimes a supplier may ask you for a deposit (usually 30-50%) before he accepts the order. While this is not unusual between long-standing trading partners, if you are doing business with the supplier for the first time, make sure you have done sufficient background checks on the supplier before you agree to the deposit, or ask for a different form of payment, such as a letter of credit which is much safer payment option. Be extremely cautious when the seller asks you to send money to an account with services such as Western Union. 9. Be aware of high risk countries Be extremely vigilant when doing business with regions with high fraud incidents such as Eastern Europe and Africa. Article Directory: http://www.articledashboard.com Ariel Dess specializes in assisting companies successfully trade with Latin America. To read to his valuable resources, tips and links, click here b2b portals |
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