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Buying products from a wholesaler is a great way to make money online. How do you know that your wholesaler can be trusted though? With the explosion of the Internet scams have evolved by the thousands. Many fake wholesalers set up fake web sites and claim to be in business for several years. However, anyone can type anything these days, and become anyone they want, online.
I can not stress the importance of researching a wholesaler before you purchase any of their products. You can simply check their site by going to whois.net. This will provide lots of information about there company. When they bought their domain. If the company has only been in business for a couple months it might be a scam.
Also, do research on Yahoo.com and Google.com. Type in the company and see what is listed. If there are sites about the company stating they are scams then I would not do business with them. However, look for creditability when you are searching. If there is one claim just realize that there might have been a mistake with them.
Check with the Better Business Bureau and see if they have any claims on them. If you are in contact with a distributor through a B2B (Business to Business) site check out their forums and see what people are saying about them.
A legitimate company will require you to fill out an application and ask you to provide your Federal and State Tax ID. Also, if they are an overseas company they have to pay taxes on products brought into the United States. It is a good idea to have a company check the order for a fee.
Another must when purchasing from wholesalers is making a secure money transfer. Never use Western Union, T/T, Money Gram, or any of those third party companies. Never use money orders or cashiers checks. Your best bet is to use Paypal or Escrow. You have the added security with these companies of recovering your money if you do not receive anything or you find out the company is fraudulent.
These tips should keep you out of harms way with fake wholesalers. If you have any additional tips on warning signs that your wholesaler might be a scam please share it with us.
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One extra advise from me again. Always contact with Commercial Consul of your own country’s Embassy which is located in that foreign country. When you write an official letter or e-mail your request, they are responding very gladly. This is one of their main function.
In case you deliver the details of your supplier, Embassy’s Commercial Consultancy can easy verify and check, whether the supplier is reliable, true or not. At once, our Turkish Embassy in London provided me very substantial job and saved by business and me from a very dangerous scam case.
Also you can ask them (always contact them through e-mails or official letters), to provide you the reliable and worthy suppliers list in that country. You can see, that they will give you the best support.
Keep in mind !