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Updated: Apr 9, 2021

Its important to identify a #scammer in #foreign trade or in #exports and #imports ; as it could spoil your reputations and time money or both

Important Checklist ;

1) Sending inquiry from webmail like yahoo / gmail etc. Such emails could be created by anyone and anywhere without credential verification.

Insist on company Email for commercial inquiry. If someone can't afford an official Email account ; it seems he doesn't have a company at all .

2) Very lofty statement and big volume which is not real . I have got an inquiry ; where buyer wants 36 Millions MT of sugars every year from Brazil . You could read easily its scam; as entire country export that volume ! and one buyer wants that ? how practically that possible ?

3) Insist on a bank statement copy of the importer ; where you can read what type of transactions they made in past 6 months and financial capability that buyer has . This is a relatively low risk document what a real buyer doesn't hesitate to show

4) Verify usage of languages in LOI ; big errors in writings, grammatical, spelling, name of ports etc. ; easily could raise alarms that the buyer has no professional competence

5) Asking some products which the buying country doesn't use or beyond their consumption limit ; could raise the doubt

6) Using a bank name ; which is not listed anywhere globally ; another alarm bell

Few such basic checklist could minimize trade risk and save time ..

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