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Here, Tradeindia's members can exchange ideas and ask for help on trade-related issues. To participate, you must be a member of Tradeindia.com. We have assigned moderators to facilitate these discussions. |
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Posted on 2nd August 2007 at 11:21:00 |
Mrs. Kerry Frampton
Proprietor
kez baby shop
Poole, United Kingdom
Free Member
Joined :06/24/2007
No of Topics Posted : 1
Reply/Comments : 0
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TOPIC : Please help: 1st time trader from UK
Myself and some freinds have found some very cheap strollers which we would like to buy from a company in Indonesia.
I am in email contact with the seller and they only accept bank transfer or western union.
We would like to go ahead with the trade but we are worried that once we transfer the money we will get no goods.
How can I find out if the company is reputable and trustworthy before sending any money?
What can we do to protect ourselves?
We are ready to send the money but we are nervous about loosing it.
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Posted on 2nd August 2007 at 13:40:00 [Message #455
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Vishky
INL
New Delhi, India
Free Member
Joined :03/27/2002
No of Topics Posted : 2
Reply/Comments : 14
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Re: Please help: 1st time trader from UK
Dear Friends,
The best thing will be to get a credit check of the Indonesian company as these days one finds lots of vendors on the net selling cheap products but when they are actually contacted & money is actually paid goods in most situations dont reach to the buyer. So it is better to get a credit check by getting their credit report. It is not a fool proof method but will give you an understanding about the capabilities of the supplier & also provide you their standing in the market, these will help you in understanding that are they capable enough to supply you the said goods at the cheaper prices they are offering.
I have seen tradeindia.com offering the service of credit reports check that should serve your purpose.
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Posted on 3rd August 2007 at 10:14:00 [Message #467
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Mr. Darshak Babaubhai Kathiriya
Business Analyst
Kayavlon Impex Pvt. Ltd.
Surat, India
Free Member
Joined :06/13/2007
No of Topics Posted : 2
Reply/Comments : 12
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Re: Please help: 1st time trader from UK
Opt for L/C at sight !!
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Mr. OM TREHAN
DIRECTOR TECHNOLOGY
SOM INTERNATIONAL
Agra, India
Free Member
Joined :10/25/2006
No of Topics Posted : 2
Reply/Comments : 48
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Re: Re: Please help: 1st time trader from UK
What a L/C at sight will be able to protect.
It may ensure that you have something which looks like a Stroller. If you have full confidence that this won’t happen stop here; don’t have to read any further.
Stroller is an assembled product, having various inputs where, materials, sizes and looks and other parameters are important for the size, function and life (Q and R) of the product.
Have you seen and qualified the factory, where these are made and have some reference from their present customers and end users. Before you take any decision to go ahead for any Volume shipment, I assume you have made sure that technical, finish and aesthetical requirement are met.. We ask for specifications and MSDS or its equivalent and Product functional design details, which give assurance that you are not sued by your consumers, because it broke or otherwise injured some child. After this next step is to get a trial lot from their production run, generally checked based on the critical parameters of the product. Study of at least 6 samples and see the piece to piece size and functional aspects, if you are need, use some outside help.
We will not buy any product unless we know size and financials of the company or some Export house which takes the responsibility to meet the contract. May be you are experience enough where this is not a business risk for you to buy, without going through these details. Then please ignore my comments.
Om Trehan
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Posted on 8th August 2007 at 15:04:00 [Message #485
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Ms. June Wang
marketing
Quantong Cable Material Co., Ltd.
Shanghai, China
Free Member
Joined :07/29/2006
No of Topics Posted : 0
Reply/Comments : 1
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Re: Please help: 1st time trader from UK
LC can help,only you receive the Documents can they get the payment.
And you can search the company by internet,which will show some information about the company for your reference.
For a real businessman, I think your worry is natural but it won't come true if the seller is a real businessman too.
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Posted on 17th August 2007 at 07:53:00 [Message #523
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Ms. Alice
foreign sales manager
YUKA ELECTRONICS (HK) CO., LTD.
Kowloon, Hong Kong S.A.R.
Free Member
Joined :03/28/2007
No of Topics Posted : 0
Reply/Comments : 2
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Re: Please help: 1st time trader from UK
If you want to do business,there sure to be some worried things.
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Mr. Darshak Babaubhai Kathiriya
Business Analyst
Kayavlon Impex Pvt. Ltd.
Surat, India
Free Member
Joined :06/13/2007
No of Topics Posted : 2
Reply/Comments : 12
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Re: Re: Re: Please help: 1st time trader from UK
Dear Mr. Om, what if they send you exact samples and later final order comes unexpected ?
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Mr. OM TREHAN
DIRECTOR TECHNOLOGY
SOM INTERNATIONAL
Agra, India
Free Member
Joined :10/25/2006
No of Topics Posted : 2
Reply/Comments : 48
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Re: Re: Re: Re: Please help: 1st time trader from UK
Mr. Kathiriya,
Your concern is correct and such fear from supplier by overseas customer is very valid. That is what I tried to explain in my comment # 475, above.
By now all of us know the story behind lead paint and Magnets from China on some toys imported in USA. I wrote earlier, it needs lot more than a good sample to set and operate a supply chain for any trade, epically for an item like a Stroller, within the country or over the seas. It costs and takes time. That is where the risks creep in and parties need to analyze risk – return matrix.
In supply from China for toys case, I think, it was the slip by both sides for landing in this Valley of problems. Own it, do some postmortem analyze it and move on, with each other, if possible.
That is why it is proper to have some local help AND use a predefined supplier/buyer selection process and ensure that you are not dealing with small and fly by night company.
But even then some failures happen. Learn from it, move on.
Om Trehan
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Posted on 12th March 2008 at 13:21:00 [Message #1178
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Re: Please help: 1st time trader from UK
DEAR KERRY,
YOU SHOULD NEED TO CONTACT WITH - British Chamber in Indonesia. YOU SEND INFORMATION OF THEIR CONTACT ADD., PH. NO., FAX NO. TO British Chamber in Indonesia(britcham.or.id). British Chamber in Indonesia HELPS TO VERIFY THIS COMPANY.
YOU CAN ALSO CONTACT WITH YOUR LOGISTIC & FORWARDING AGENT TO VARIFY THIS COMPANY. CONTACT ONLY FROM THOSE LOGISTIC & FORWARDING AGENT WHO HAVE THEIR BRANCH IN INDONESIA. YOU APPOINT AGENT TO THE LOGISTIC & FORWARDING COMPANY. YOU NEED TO GET THE PRICE QUOTATION IN FOB & YOU NOMINATE THE LOGISTIC & FORWARDING COMPANY WHICH HELPS TO VARIFY ABOUT THAT COMPANY.
FOR THE CREDIT REPORT YOU HAVE TO PAY MONEY TO AGENCIES BUT I SUGGEST YOU THAT YOU CONTACT WITH LOGISTIC & FORWARDING AGENT FOR EXPORT BECAUSE IN THIS SITUATION THE PAYMENT RISK IS LOW.
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