Here I want to share a more effective strategy to prevent foreign customers from cheating when it comes to goods. This approach can significantly reduce the risk, or even bring it down to zero, and minimize potential losses. Many foreign trade professionals face this challenge when dealing with new clients. At first, they're excited about the effort they've put in, but soon after, fears begin to creep in. Sometimes the contract is signed smoothly, but things become complicated later on—after days of waiting for the goods, the reality hits and only then do you realize what’s truly at stake. If this is just the beginning of a trap, after a few collaborations, you might gradually lower your guard, unknowingly stepping closer to the edge of a pitfall.
My solution is straightforward:
1. Avoid signing contracts for specific items or FOB terms whenever possible. This is where many businesses fall into traps. Many foreign companies now use freight forwarding or FOB contracts, which may seem convenient and reduce your workload, as well as complaints from foreign partners about shipping issues. However, don’t be tempted by this. The less control you have, the more vulnerable you become. If you’re willing to walk away from a deal, at least you’ve learned something. It's better to have a clear mind and protect yourself than to lose out in the end.
2. Be extra cautious with clients from less developed regions. For customers in South America, the Middle East, Africa, Central Asia, and parts of West Asia, try to collect full payment before shipping the goods. Don't rely on promises, faxes, or even letters of credit. Keep the money in your account until the transaction is fully completed.
3. Always find a reliable shipping company that can support you throughout the process. This is more important than you think. Many people assume that a shipping company is only there to handle logistics or secure a lower rate, but that's not all they can do. A strong shipping partner with global branches, domestic ports, and international agents can help you maintain control over the goods. In simple terms, it extends your control across the globe. Before the foreign buyer pays in full, you can keep the goods in storage or even arrange for them to be sent back through the shipping company. This method has proven highly effective. We’ve helped numerous foreign trade companies avoid risks successfully, and it's widely appreciated among industry professionals. Additionally, these shipping companies can assist with letter of credit settlements, whether it's air or sea freight. Their orders can help streamline the payment process, even if the letter of credit is complicated or problematic.
4. To all foreign trade professionals, always maintain a strong sense of responsibility in your work and be ready to take ownership of your decisions. I once met a company that was working with a customer in Vietnam. They were worried about not getting paid and discussed my method with me—they were very happy with the idea. But when I asked about the outcome, they said: “The company decided to accept a $30,000 loss and still shipped the goods according to the foreign client’s request.†That was heartbreaking. It’s sad to see such a lack of caution. I believe that only those with a strong sense of responsibility will pay attention to hidden risks and small details that could lead to losses.
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