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| How to verify new trade partners in an e-commerce transaction |
How to verify new trade partners in an e-commerce transaction is a question that many businesses will seek to find an answer. I would say it’s almost the same with any other contact that you acquired outside the internet. In Halal2all what we provide to you are information about companies from all over the world, yes we do some basic verification but it is always better to do some checking on your own. Remember your need to information are not only if the business is legit but also whether the products is truely halal.
I believe the Muslim Manufacturer are trustworthy enough for halal and would not try to play around with it. However below are some useful tips to help you verify potential trade partners:
1. Ask potential trade partners to provide you with as much company information as possible, such as company profile, business license, export/import documents, contact details, etc. Beware of companies that have incomplete details or who only use mobile phones to contact you. If a potential trade partner’s business is registered in Country A, but their contact details are for Country B, it is important to ask them serious questions.
2. Use a search engine such as Google to verify their company information and contact details. Beware of businesses with a lot of complaints recorded against them. You should also use your potential trade partner’s local government website to verify their registration number and other contact details.
3. Ask your bank to verify your potential trade partner’s bank. If your potential trade partner’s bank is not trustworthy, ask them to change it.
4. Ask for a credit report company from your potential trade partner. It is important to confirm that they are not in financial trouble and have never conducted any fraudulent activities. When conducting credit verification, it is essential to first verify their identity to prevent fraud caused by identity theft.
5. Ask your potential trade partner’s local embassy or Chamber of Commerce to help verify their company.
6. Post questions on foreign trade forums, such as Alibaba.com Safe Trading Forums, to ask for help from forum members. They may be able to help you verify your potential trade partners.
7. If you are a buyer, you are highly advised to travel to your potential trade partner’s place of business to inspect their factory, production, products, etc. If travel is not possible, it is worth hiring a third-party Inspection Company to check the factory and goods.
8. Take a lot of time to discuss orders with your potential trade partner about the product, payment, shipping, etc. If they are unclear about their company and products, or the deal sounds too good to be true, you are strongly advised to stop all business with them. |
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