Dear Member,

Kung Hei Fat Choi! Wish you a year of Dragon!

Our February e-News brings you the online trading tips, latest Top 10 Escrow Supplier List, website features as well as STRC members.

Online Trading Tips for Buyers │ Back to Top

Fake E-mail Addresses

It is possible for anyone with some technical knowledge to send an email with a fake address. When you receive an email from someone you know or whose email address appears legitimate, but the message of the email looks suspicious, you can verify whether the email came from the person whom the sender claims to be by using a simple procedure to check the email address.

Protect Yourself Against Payment Risk

Be extra cautious when the seller asks you to send money to an account whose real owner cannot be traced; for example, you cannot trace the real name of the person behind an account with a wiring service such as Western Union.

When the buyer and supplier don’t know each other, Escrow service establishes a secure online trading environment. It protects Buyer and Seller by acting as a trusted third-party during the transaction and managing the payment process from beginning to end.

Pre-Shipment Inspection Services

If you are a buyer, you can protect yourself against poor quality by ordering a pre-shipment inspection of the products. You can demand the inspection as a condition to payment. Escrow with Inspection Service ensures your merchandise is sound by having it inspected by professional experts, and issue an inspection report to both the buyer and seller for approval before the seller is paid.

Protect Yourself When Ordering or Providing Samples

As a buyer, order a sample before committing to a purchase order to be sure that the product meets your expectations. As a seller, request payment for a sample and/or payment for shipping costs before you send out the sample, especially if your product has a high resale value.

A Personal Meeting

Whenever possible, meet 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.

Check the Supplier's Background

Background checks from independent third-party sources include a search for legal registration and credit reports. In many countries the existence of a company and its legal status is a matter of public record. Check with the local company registry in the partner's country to ensure that the company exists with a valid registration. If you cannot have independent access to your partner's registration information, ask your partner to provide you with a Certificate of Good Standing issued by the local company registry of partner country or state/province. You can also gain further knowledge about your partner by ordering a credit history report from a local credit agency. Credit history reports contain information about the partner's business history in their relationships with banks and other trading partners.

Verify the Identity of Supplier

Always confirm if the address, phone number and email address given to you by your trading partner belongs to the same company. If a trader provides inconsistent contact details, for example an address in Malaysia and phone number from another country, we recommend you look up the address in the local phone directory and obtain the local phone number, and call this number to confirm that the person you are in touch with actually works for the company. Similarly, if a partner's email heading states that they work for a certain company, you should verify this. Be aware that some scam artists could alter their return email address heading to make it look like they work for a company that they don't.

Credit Card

Be very careful if a prospective business partner you meet through the Internet informs you that they can only send you payment by check or credit card. If you accept such payment methods there is a risk that the checks have been forged or that the credit card numbers have been stolen. Wire transfers and letters of credit issued from a bank or licensed financial institutions are free of such risks in securing payment.

(Reference: http://www.trademal.com)

New Website Features │ Back to Top

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Icons of reporting out of stock and placing Escrow order in Quotation Email
If the supplier stated in-stock was available for the offer but couldn’t provide in-stock finally, you can report the supplier by clicking the link in the Quotation Email.

New STRC Member │ Back to Top