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HuInTems Inc.

  • Allan Cha / CEO
    [ Korea ]
  • Categories: Tinplate, Ingots, Metal Scrap, Copper, Other Non-Metallic Minerals & Products, Zinc, Nickel, Label & Tag

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[How to identify genuine buyers and genuine sellers]

The most difficult thing about electronic trade is how to distinguish between genuine and fraudulent buyers. Of course, the same goes for genuine and fraudulent sellers.
The answer is found by a lot of experiences.

To tell you my own know-how, in the past, I consulted sellers and buyers mostly through e-mail. When I carefully read the counterpart's English sentences while thinking about them and carefully think over the English words that the counterpart has used unconsciously, I often would find if he/she is sincere.

These days, I intentionally consult directly by chatting through messengers such as Whatsapp or Skype. Consultation through messenger is the fastest and best for confirming the sincerity of the other party.
I make various requests when consulting. I ask for documents, photos, and videos on purpose.
There are sellers or buyers who faithfully follow these requests without any complaints. They can be regarded to be genuine.

Rather than asking for multiple requirements at once, we should present our requirements one after another. Even if we do this way, there are definitely sellers or buyers who faithfully comply with the requirements. (In my experience, Indian buyers and sellers often followed well.) If that is the case, we can consider them as genuine. However, most of them complain as soon as one or two requirements are presented. We try to see that. We are expected to make a good judgment then.
Of course, we have to look carefully at the sentences and words they use while chatting.

To tell you one last thing, when you enter a contract, you have to make it yourself instead of leaving it to the other party. That way, you can write a contract in your favor. Before writing the contract, discussions on various conditions have already been completed, but when writing the contract, you have to be careful with each phrase and write it in your favor unconditionally.

Then, if the other party raises an objection to it, you have to discuss it again. In this case the contract often would break.
I've been through such situations countless times, too.
Those who trade for the first time are eager to export anyhow after concluding the contract without breaking, so they often think, "I would rather make a little concession." And they would prepare and sign a contract with this mindset, but it's better to break the contract than to be scammed.

And you must not unconditionally believe even after you have signed the contract. In many cases, we could be scammed after signing the contract. Even if we check and review again and again, we could be scammed, so we always have to focus on each detail of the transaction.

I seem to have said too negatively, but in overseas transactions through the Internet there are several times, tens, hundreds of times more fraudulent ones than genuine ones. You can say that there are so many swindlers on the Internet who beat their brains on how to cheat.

Keep in mind that if you meet a genuine buyer, you can succeed in business, but if you meet a fraudulent buyer unfortunately, you may ruin your business at one go. So, always be careful in conducting transactions with foreign countries.

I thank you for reading the long article and I wish you successful trade.

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