It is not easy to find the genuineness of buyer and seller in the foreign market.
In brief, we can find the buyer/seller genuine through our quality, ECGC or may be your relatives in that specified location or check that company name through search engine.
A genuine buyer is not ready to purchase bulk in the initial order or transaction. They will take some time to judge your company products for first 3 to 4 transactions. We can send it accordingly based on the buyer needs. They will gradually increase the order once they are fully satisfied with our goods. Before closing the order, do negotiating the prices and finalize the mode of payment with the buyer or seller.
We can check the buyer or seller genuineness through Export Credit Guarantee Corporation of India (ECGC). Initially,we have to take a policy based on credit risk insurance and guarantees. Those policy will covers the insurance for marine and political issues, takes risk of getting payment from the buyer or seller.ECGC provides the credit information of overseas buyers.
We can also verify the genuineness of buyer or seller through own source. Your relative or reference may be living in the location which are dealing the export order now. They may have a chance to visit the buyer location so that we can take initiate to take risk of our own. We should take any risk with their knowledge and relative opinion.
Internet plays a vital role in any kind of industry. Exporters are also getting benefits through internet, they can get all the details through search engine like google, yahoo,msn and other search engines. Many B2B web portal provides valuable source for exporters and importers and they checks the genuineness of buyer or seller if we are paid members. We can also check the company name,address,website through the internet.They donot hesitate to give the contact information once we are going to confirm the order.From these we can confirm the telephone number and address
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