Buyer Payment Protection In International Trade - Avoid Being Scammed!
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- Опубліковано 28 чер 2024
- Best advice on how to pay for international goods without being scammed.
If a deal is too good to be true, it really is but we have to pay for goods at some point. This video explains how to make a payment in international trade and protect yourself from the scammers.
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Hi Alan.
Am really greatful and full of hope that one day you will coach me and your my mentor in this because the international trade business is consuming the whole of me each single day , .
Your giving the world the incredible information starting with me right away.
Meet you in the coaching any time Mr Alan.
Regards to your loved ones.
Robert
Hi Robert, great to hear from you here on UA-cam. I look forward to welcoming you on to our course, it will be great to have you. Thank you for the very kind comment.
Hello Alan, you're a delight and very knowledgeable. I am so glad to obtain such wealth from you on my endeavors.
Thank you Julia, for such a kind comment. It’s much appreciated.
hi, Alan, Thank so much you for your sharing of keen knowledge of trading!! I was wondering if you could shed light on one of the major barriers in international trading - "Trust issue". With many scammers out there, the real buyers are confronted with difficult of identifying the real seller. Chinese buyers, for example, are very unwilling or unable to issue SBLC or even transferrable LC now, let alone TT in fear of risks. Sellers, especially manufacturers/factories often need TT or cash in advance. This has presented huge challenges for traders to bridge the gap. Can you please advise on how to resolve this issue. Thank you very much!
Hi Guilinview, there's no one answer or 100% way to secure yourself. There are a few methods to use in order to reduce your risk. As a buyer, use the following as safeguards:
1. Contact the embassy of the sellers country and ask what government organisation can give you the status of the sellers company (i.e. Companies House in the UK).
2. Contact the Chamber of Commerce (via Google) for the city the potential seller is located in. Ask them can they assist with verifying the company as legitimate.
3. Google search for company name, reviews etc. but this is not always 100%.
4. When it comes to Ali Express/Ebay sellers, it's very very difficult to identify fraudulent from legitimate. Other than looking at reviews and making sure your method of payment carries some sort of guarantee (check with your credit card company or PayPal offers some protection with this), there's not a lot you can do and you must make any purchases at your own risk. Contact the selling platform to ask for best practices when dealing with sellers and what protection they may offer.
I've used these methods successfully over the years and hope they may help you.
Thanks for video, very helpful, do you have any suggestions how to bye in Indiamart safely and do you think PayPal is a good option for interaniaonal buyers or can you suggest anything safer?
Hello, thanks for your question. I don't have any experience with Indiamart personally so I can only give general advice:
Paypal does offer some payment protection and you can read more on the links below. Be sure that the product you are buying does qualify for their payment protection.
www.paypal.com/uk/webapps/mpp/paypal-safety-and-security
www.paypal.com/uk/smarthelp/article/what-is-paypal-buyer-protection-and-how-am-i-covered-faq645
www.paypal.com/us/webapps/mpp/ua/legalhub-full
www.paypal.com/mh/smarthelp/article/what-is-paypal-buyer-protection-faq1269
Check reviews of individual sellers on Indiamart and see if Indiamart has any insurance against' fraud. Do not pay with cash, money transfer or western union. Paying by credit card often includes protection, call your credit card company and ask them if they have any buyer protection, insurance or fraud protection if you make the purchase on that card.
I hope this helps.
TT....what that's means
Hi Ramon, TT is a telegraphic transfer which is when a quick method of payment used bank to bank. It’s a basic money transfer these days.
@@ABTS Hi Professor. (TT)...Telegraphic transferThanks a lot for enlightening me. I really appreciate that. Regards
I am seeing here 😂 a great and experienced man. But what about hard working export SMEs like me. I am not a scammer yet not a well known company. Please give some advice about it. It’s been much pleasure watching your videos ❤ from Egypt.
Dina
VETRO for International Trade and Contracting
Thanks for your comment. It’s about building credibility and loyalty to customers and offering the best service you can. Keep it as personal as possible and continue to network, build trust and be dedicated.