From Ray Stannard of International Trade Financial Solutions
Check out the new website at http://www.inttradefinsolns.co.uk
Next: “Companies Act 2006”.
There are loads of scams as we all know, but here’s one that seems to be re-appearing. If you receive an order for 1 unit only of whatever from an unknown source, be careful if your product is one that can be copied. Historically, businesses would receive such a request, usually from the Far East, a market in which they were not active, often with payment up front. The goal of the buyer was to obtain a unit, then break it down and put it on the market at a lower cost, thereby undercutting you and taking your custom. Patent/IP rights should have protected you, but recourse would be through the legal system of whatever country the fraudster was based in – a lengthy, costly and worrying process. They seem to have got wise and now the order comes from somewhere
closer to home – still usually outside the UK/EU/N America – but areas where your guard may not be as high. Yes, we all like sales, but just take stock to consider
whether the order is as innocent as it seems.