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TOPIC : Avoiding scams and frauds while buying without L/C
Posted on 10 July 2009 at 14:46:00

How do I avoid scams and frauds when we are not able to open L/C and suppliers ask for advance payments. What is the best way to buy without L/C?

Mr. ABU SALEH

AL-AOUN INTERNATIONAL

managing director, AL-AOUN INTERNATIONAL
ar-Riyad, Saudi Arabia

Free Member, Joined :07/25/2006
No of Topics Posted : 1
Reply/Comments : 2

Re: Avoiding scams and frauds while buying without L/C
Posted on 14 July 2009 at 11:18:00 [Message #2262 ]

Start out small.. Order a sample.. then a small quantity of items. Tell your supplier you are a small businessman with limited capital. Do not order more than you can purchase and work with only suppliers who will cooperate. $500 $1000 be patient and let the supplier start comping you say 1 in 10 items. If you lose a little profit by purchases small quantites you more than make it up in security and protection from loss.. Which as a small company you cannot afford.. Chances are your supplier wants to sell you product as badly as you want to buy his products.. Keep it reasonable and equitable and never write a check unsecured or ship product without being able to accept the loss should things for any reason go sideways.

W

Mr. William Reichenbach

Swordfish LLC

Swordfish LLC
Quartzsite, United States

Free Member, Joined :12/14/2008
No of Topics Posted : 0
Reply/Comments : 1

Re: Avoiding scams and frauds while buying without L/C
Posted on 16 July 2009 at 00:54:00 [Message #2272 ]

dear Mr. Khatam,

wherever advance payments are forwarded, you are likely to be prone or face such a scam, with inferior stuff, or substandard items, delays in receiving goods. and this list is a long one. while in Imports, it is always safe to open an LC and deal with the supplier for some preliminary deals till you are confident about supplier's dealings.

while you want to buy without an LC, it is best to avoid any kind of advance payments. Try to convince the supplier that his payment is safe if stuff comes as per the ordered one. This can be achieved by keeping some mediator agency from India, where you release the payment on QC carried out before shipment leaves.

Mr. Dainesh T. Sampat

Reliance Marketing & Services Co LLC.

Director, Reliance Marketing & Services Co LLC.
Ruwi, Oman

Free Member, Joined :12/08/2006
No of Topics Posted : 2
Reply/Comments : 32

Re: Avoiding scams and frauds while buying without L/C
Posted on 30 July 2009 at 19:34:00 [Message #2306 ]

DEAR FRIENDS,

THANKS FOR YOUR RESPONSE TO THE ABOVE TOPIC CITED ABOVE. BUT THE PROBLEM REMAIN UNSOLVED. IS IT NOT POSSIBLE TO HAVE OUR OWN EXPORT OFFICE/COUNTER IN INDIA. FOR EXAMPLE I AM OWNER OF SAUDI COMPANY AND MY HUSBAND IS INDIAN AND HAS A GOVT.REGD.EXPORT COMPANY IN INDIA. IF I SEND HIM AN OVERSEAS PURCHASE ORDER WITHOUT L/C BUT ATTESTED BY OUR CHAMBER OF COMMERCE FROM SAUDI ARABIA FOR 180 DAYS DA BASIS UNDER E.C.G.C. COVERAGE? IF SO, IS IT POSSIBLE AND RELIABLE AND CAN ANY SUPPLIER PACK GOODS FOR US? I WILL BE VERY GRATEFUL IF ANYBODY COULD ADVISE ME AND SHOW THE SOLUTION.

THANKS AND WITH BEST REGARDS

Mr. ABU SALEH

AL-AOUN INTERNATIONAL

managing director, AL-AOUN INTERNATIONAL
ar-Riyad, Saudi Arabia

Free Member, Joined :07/25/2006
No of Topics Posted : 1
Reply/Comments : 2

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