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Foreign Traders Need To Be Cautious About Common Fraud In The Middle East Market.

2010/10/28 9:05:00 87

Middle East

market

Take the UAE as an example, it is an open and free Muslim country, because of the stability of the country.

Economics

The policy has attracted many businessmen from all over the world to do business here.

Trade

Activities, on the basis of such a trading environment, naturally produce a commercial deception.

1) the forward check will be paid for. The buyer will give you a 15 day or 20 day forward check after receiving your goods. The bank will pay cash in 15 days or 20 days, but this kind of businessman will immediately declare the company bankrupt after the receipt of the goods and run away, causing economic losses to the domestic supplier.

Advice 1: to deal with any customer, do not accept the trade form of long dated cheque, buy and sell goods, and make D/P payment carefully.

2) the terms of the letter of credit are annexed to the terms of the soft clause. Such a purchase merchant will give you an irrevocable letter of credit at sight. However, in the letter of credit, the goods will be inspected without delay after the arrival of the port, signed the bank documents and so on. The terms appear to be in good order. However, when the goods arrive at the port, they will not check or make any objection, so that the supplier will often have to deal with the price and cause losses.

Advice two: do not accept any additional soft terms for any letter of credit.

3) pay part of the payment and pay after receiving the goods. Such a merchant will give you a deposit of 20% or 30% of the deposit. When the goods arrive at the port, they will be put in the warehouse and then paid in installments. But after paying 40% or 50% of the total amount, such a businessman will abscond with the goods or run the goods at a low price and then run away, causing losses to the supplier.

Advice three: to deal with any unreasonable request, do not give up your principles lightly. The final purpose of shipment is to recover the money.

4) joint stock management company, I offer attractive work, such businessman cheat, usually give you a temptation of interest, you produce tens of thousands of RMB in the country, he will give you a green card, and so on, but in fact, you get just a tourist visa, the value is only more than 100-200 dollars, valid for 30 days, cheaters usually tell you that this is a long-term visa, after you enter the country to find the truth, but you have not found the cheater.

Advice four: don't trust any cheater who gives you such sweet words to any attractive promises and conditions.