Purchase reliability – How to not have your money disappear

Have you ever made a purchase or tried to make a purchase with a someone in another area (either domestic or international) and simply have a seller take the money and run without providing you with the product or service you paid for? Has this ever happened with a major business purchase you were seeking to make quite profitable in your favor?

If this has never happened to you then you’re lucky. Many businesses worldwide have faced this issue with suppliers, just like many buyers have faced this problem themselves in their own neighborhoods. This is especially risky when dealing with individuals who are essentially
anonymous via the internet or geographic location–If one person is located on one side of the world and another on the other then it is difficult to track people down and international laws may or may not apply. While some online companies such as eBay have striven to counter this online fraud through their extensive selling insurance system and have even developed PayPal to ensure that they can control payments if necessary you cannot always have the same assurance of all companies you are dealing with.

While it is not common that fraudulent deals such as this will happen with your business dealings with a factory it is still a possibility, and a very real and can cause quite significant losses if you are not prepared and take the proper precautions necessary to counter this.

There are two main options you have available to you to help you out: either invest in hiring a private sourcing employee with your company who will investigate factories, follow up on deals and ensure your products’ quality, or hirer a third-party sourcing company to do this for you.

While many major companies choose the first option as they can then have greater control over their employee and the compensation he or she may get in reality sourcing companies exist for a reason, and that is to help companies worldwide of any size to achieve their supply needs.

While this may include quality control and other services in addition to purchasing assurance, a very important and very real aspect about a good sourcing company is that they can help ensure that your money will not simply disappear into an overseas untraceable bank account and help some less-than-scrupulous person in a faraway land pad their pockets.

Before jumping into any business venture make sure that you have conducted proper research necessary to make sure that you are not going to simply pour money into a black hole that you will never see any return on investment from. If this requires you to go to a sourcing company then do so. The added costs may seem like potentially unnecessary expenses at first, however the insurance and benefits you will get from it are worth it.

Written by Alexander Grimes

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Written by Alexander