Be cautious about foreign trade business

A Chinese garment factory received an order from a Korean customer. The customers agreed to deposit 30 percent of the total amount to the suppliers’ account.

The clothes need mark on special logo on the front breast part.

When the factory finished the clothes as required by the customers, the Korean customer refused to pay for the products. They always pointed out some defectives on the products.

During the negotiation period, the Korean customers can not be reached by emails or telephone.

One month later, another customer knew the factory had stored such products. The buyer said the products with special logo could only be bought on a very low price, or else, they would turn to other suppliers.

Finally, the products were sold out at a very low price. Through some channels, the supplier knew the Korean customer and the buyer were from one company.

Foreign trade business always had risks. While the international buyer and domestic supplier could prevent such cases, such as conducing the foreign trade business on a good credit B2B e-business platform, or taking a third party payment tool.

IBUOnline is an innovative B2B e-business platform, which could help foreign trade business.

IBUonline has introduced the third party payment tool, which could prevent such cases.

Please visit IBUonline homepage if you have interest in online foreign trade B2B business.