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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 2009 at 11:44:00 |
Mr. Goldy Nagdev
Managing Director & CEO
HARI DARSHAN SEVASHRAM PVT. LTD.
Delhi, India
Paid Member
Joined :02/23/2007
No of Topics Posted : 1
Reply/Comments : 1
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TOPIC : Is misuse of bank details, etc. possible in exports?
We are into negotiation with a buyer from Benin Republic. Now he is asking for our bank details & Performa Invoice. Is it possible for him to misuse the details? Can anyone actually misuse the information in exports?
We would appreciate your early reply.
Thanks
Hari Darshan Team
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Posted on 3rd August 2009 at 19:01:00 [Message #2334
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Kevin Parr
bt3
Oldham, United Kingdom
Free Member
Joined :07/13/2009
No of Topics Posted : 0
Reply/Comments : 1
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Re: Is misuse of bank details, etc. possible in exports?
I'm in the UK and its possible here for someone to use that information to set up a direct debit a direct debit or direct withdrawal is an instruction that a bank account holder gives to his or her bank to collect an amount directly from another account. It is similar to a direct deposit but initiated by the beneficiary.
It is typically used to make recurring payments for credit card or utility bills. Unlike standing orders, which require the amounts to be fixed, direct debits can be used for varying amounts; the payee can simply indicate a different amount each time. However, in countries where setting up authorisation for direct debit is easy enough, it can also be used for one-time payments in the mail order business or even at a point of sale.
It is available in the banking systems of several countries, including the United Kingdom, Germany and the Netherlands. It is scheduled to be available across the whole Single European Payments Area by the end of 2010. In the United States, where cheques are more popular than bank transfers, a similar service is available through the Automated Clearing House network.
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Posted on 3rd August 2009 at 20:32:00 [Message #2337
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Mr. K. Nazar
Proprietor & Granite Marker
ABIA GRANITE SERVICES
Hosur, India
Paid Member
Joined :04/10/2009
No of Topics Posted : 0
Reply/Comments : 3
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Re: Is misuse of bank details, etc. possible in exports?
Dear Sir,
Is the buyer accepted your products in detailed specifications ? Is their any proper correspondence in writing with your company by fax ? did the buyer send his represents for checking your products ? or its better inform the buyer to open Non Negotiable L/C from Prime Bank before its better ask the buyer company details and check with ECGC department once L/C opened check with your bank its an valuable L/C for the shipments.
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Posted on 4th August 2009 at 22:14:00 [Message #2345
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Mr. ABU AOUN AL-SEARY
managing director
AL-AOUN INTERNATIONAL
Riyadh, Saudi Arabia
Free Member
Joined :07/25/2006
No of Topics Posted : 1
Reply/Comments : 3
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Re: Is misuse of bank details, etc. possible in exports?
DEAR MR. GOLDY NAQDEV,
EVEN IF YOU DONT HAVE ANY DOUBT, NO NEED TO GIVE YOUR BANK DETAILS TO ANY IMPORTER. THE MAXIMUM WHAT YOU HAVE TO DO IS TO ASK YOUR BANKERS TO ISSUE PERFORMANCE BOND AFTER OBTAINING THE LETTER OF INTENT FROM HIS BANK. IT WILL BE SAFE SIDE FOR BOTH SIDES.
REGARDS
KHATAM AMER TRADING & CONTR.AL-RIYADH-SAUDI ARABIA
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Posted on 6th August 2009 at 21:10:00 [Message #2348
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Mr. Nikesh Rathore
Proprietor
TIRANGA EXPRESS
New Delhi, India
Paid Member
Joined :10/22/2008
No of Topics Posted : 0
Reply/Comments : 4
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Re: Is misuse of bank details, etc. possible in exports?
dear sir,
if you have an order from foreign buyer and you have an purchase order in written,then you can provide your bank details.actually foreign buyer want to know about bank name.you can provide your IFS-code and bank name,if your payment term is L/C OR T/T. actually nobody can misuse your information in export.
Thanks with regards
Nikesh Rathore
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Posted on 14th August 2009 at 16:42:00 [Message #2369
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Mr. Nikesh Rathore
Proprietor
TIRANGA EXPRESS
New Delhi, India
Paid Member
Joined :10/22/2008
No of Topics Posted : 0
Reply/Comments : 4
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Re: Is misuse of bank details, etc. possible in exports?
Hello mr.Nagdevji,
first i want to ask you your payment condition(L/C,TT etc.).actually foreign buyer want to know about your bank status in his country.first you can tell your foreign buyer to send a purchase order/interest letter.if buyer is actual you can send your bank detail.
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