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MeojBiz is committed in making your trading experience safe, easy and successful. By providing you with information about potential buyers and sellers, you will be able to make informed trading decisions. These Safe Trading Tips has been provided to help you take advantage of MeojBiz's services in identifying trustworthy and honest trading.
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There are a number of actions you can take to research your potential trading partner whom you have met from the Internet so that you can reduce the risk of encountering fraudulent transactions or business misunderstandings. These actions include:
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| Confirming Contact Details |
| Always confirm if the address, phone number and e-mail addresses given to you by your trading partner belongs to the correct company. If a trader provides inconsistent details, we recommend you obtain the local phone number of the company form a local directory and call to confirm that the person you are in touch with actually works for the company. Likewise, if a partner's e-mail states that they work for a certain company, you should verify this with the company. Be aware that some con artists can alter their return e-mail address heading to make it look like they work for any company they wish. |
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| Checking Your Partner's Background |
| Background checks from independent third-party sources include a search for legal registration and credit reports. In many countries, the existence of a company and its legal status is a matter of public record. |
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| Meeting Your Partner in Person |
| Whenever possible, meet your trading partner in person and visit their company's offices or facilities. It is harder to fake a brick-and-mortar business than it is to fake an online business. |
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| Asking for Samples |
| As a buyer, order a sample before committing to a larger purchase to ensure that the product meets all your expectations. As a seller, request for payment for a sample and/or payment for shipping costs before you send out a sample, more so if your product has a high resell value. |
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| Using Pre-Shipment Inspection Services |
| If you are a buyer, you can protect yourself against poor quality by ordering a pre-shipment inspection of the products. You can demand the inspection as a condition to payment. |
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| Guarding Against Payment Risk - (Seller) |
| If you have not been trading with your buyer for very long, avoid selling your products on open-account (you are extending credit to your buyer). Alternatively, ask your buyer to open a letter of credit. |
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| Guarding Against Payment Risk - (Buyer) |
| Sometimes a seller may ask you for a deposit before they accept your order. While this is standard between long-standing trading partners, if you are doing business with the seller for the first time, conduct sufficient background checks on the seller before you agree to the deposit, or ask for a different form of payment, such as a letter of credit. If the seller seems too focused on payment, or indicates that cash payment is needed urgently, extreme care should be given to that trade. Be extra cautious when the seller asks you to send money to an account whose owner cannot be traced. |
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| Be Cautious of Suspect Shipping or Contact Addresses |
| Pay close attention to the shipping or contact addresses located in countries with high cases of online fraud. Many e-commerce web sites have found high incidences of online fraud from countries such as Nigeria, Macedonia, Colombia, Romania etc. |
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| Be Cautious of False E-mail Addresses |
| It is possible for someone with some computer knowledge to send an e-mail with a false address. When you receive e-mail from someone you know or whose e-mail address appears legitimate, but the message of the e-mail looks suspicious, you can verify whether the e-mail came from the person whom the sender claims to be by using a simple process. |
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