About fraud

WHAT MAKES A GOOD MIDDLEMAN?

Working through a middleman is not always a bad idea. Often both the exporter and importer can benefit from working through a trading company. Below we have listed some characteristics of a good middleman. Cash payment for the purchased product. Often a middleman pays cash to the producer and this... More info >>>

SIGNS OF A BAD MIDDLEMAN

The following recommendations will help you to identify a bad middleman. Try to avoid middlemen with the following characteristics: Newly established or financially weak company. If there is a problem with the quality or quantity of the goods, the buyer has little chances of receiving compensation. A trader who simply takes prepayment... More info >>>

DANGEROUS FRAUD USING REFERENCES

This is a dangerous fraud, which is difficult to discover and which can cost the supplier a lot of money. A scammer sets up a trading company and rents an office. The company starts to send inquiries to well-known and reputable firms from the industry. Then the scammer places small... More info >>>

NEW OWNERS FRAUD

Changes of ownership in a small private company might present a problem for existing suppliers. We will analyse the following situation: A certain company had been in business for several years and was very successful in the branch. It paid the bills on time, supplied good quality products, was never involved in... More info >>>

WRONG TIMING CAN CREATE PROBLEMS

Sometimes a seller does not stick to the time frames settled in the contract and this can create troubles both for him and importer. We can analyse the following situation: An importer orders two containers of product from an overseas company. The containers should be shipped one after another with a one... More info >>>

DELAY WITH PAYMENT

When a buyer does not stick to the payment schedule, he can delay receipt of the original documents. Many deals are made on partly prepayment basis. The buyer pays 10-30% prepayment upon order confirmation and the remaining amount seven to ten days before the goods arrive at the port of destination. Such deals... More info >>>

"ME SPEAK NO ENGLISH" SCAM

Difficulties with foreign languages can create problems in business. If the parties cannot speak the same language it can create a lot of problems in business. Some scammers use the language factor as a fraud tool. Quite often senior managers in Eastern Europe, Asia and Africa speak only the local language.... More info >>>

VISIT OUR COUNTRY SCAM

This scam has been reported many times on the internet and to different anti-fraud organisations, but it is still running. An Asian importer contacts a foreign company with a quotation request. The volumes the importer wants to purchase are very large and will generate solid revenue for the exporter in the coming... More info >>>

L/C: PAY ATTENTION TO THE LANGUAGE OF THE DOCUMENTS

If even one of the documents is issued in a language other than stipulated in the L/C it can create problems for the seller. Exporters should ensure that all documents stated in the L/C are issued in the required language (usually English), unless an option for other languages is clearly written... More info >>>

A GOOD BARGAIN CAN BE A BAD LOSS

When a buyer tries to obtain the lowest possible price it can often create problems with the quality or quantity of the ordered goods. Understandably, all sellers want to sell at top price and all buyers want to buy at bottom. During negotiations all parties are doing their best to reach a mutually... More info >>>

Pages

BL International Limited
Tel: +350-54015717  info@blintl.com
Member of The Gibraltar Chamber of Commerce