Buy & Sell Tips from HKinventory's services

Buy & Sell Tips
HKin.com is committed to providing you with a safe and simple trading platform. Here are a few safety tips to keep in mind. These tips are designed to encourage you to take advantage of HKinventory's services in identifying trustworthy trading partners.

Be Skeptical

We encourage our members to exercise caution when conducting online transactions, as well as using online and offline resources to ensure a secure and safe trading experience. You can make use of different resources such as member search to confirm if the other party is a real HKin.com member.

1. Seller: Protect yourself against payment fraud
If you are dealing with an unfamiliar party, avoid selling your products on open-account (in which case you are extending credit to your buyer). Try to collect money before you shipped the goods.

* Ask your buyer to open a L/C (letter of credit) or use Escrow service.
* Do not rely on wire transfer slips as payment proof. Always check your bank account to make sure you have received payment before sending components to the Buyer.

2. Buyer: Protect yourself against fraud
Sometimes a supplier may ask you for a deposit (usually 10-30%) before accepting the order. Although this is not unusual, fraud can occur even at small amounts. Make sure you have done sufficient background checks prior to placing the deposit. You can also ask for a different form of payment, such as a letter of credit or use Escrow services.

* Pay extra attention if the supplier appears to be more focused on payment than on any other issue.
* If the seller insists wire transfer other than any other payment method such as NET or Escrow, be vigilant and you are recommended to do a background check by email to eport@hkinventory.com.
* Be extra cautious when the seller asks you to send money to an account whose real owner cannot be traced. For example, you cannot trace the real name of the person behind an account with a wiring service such as Western Union.
* Be aware of transferring funds to personal bank accounts.
* Be cautious if the bank account is located in a different country than the shipping address.

Be Alert If Received Quotation From A Personal Email
Be careful if receiving quotation from a personal email account. Since those emails accounts cannot be traced once problems occurred.

Be Cautions If A Deal Is Too Attractive
Be wary of deals that appear too good too be true, even with those you have traded before, because they probably are. If in doubt, confirm with HKin.com the other party's information beforehand, or contact the company directly and ask for trade references. HKin.com provides different resources such as member search, company search etc to help you knowing more about your trading partner's identity.

3 Ways To Check Identify

1.Bank Account Search
Buyers should always check the supplier's bank information rather than just company information. Deceivers may change their company information from time to time, but they will always make use of same bank account to collect money. So please ensure to verify your supplier's bank details before you pay. You can search by entering Bank Account or Beneficiary Name at www.HKinventory.com/public/ReportedCompany.asp.

2. Reported Company Search
We committed to fight against unfair or fraudulent trade practices on our marketplace in order to provide a safe and reliable trading environment for our users. We have listed those companies practice in an illegal manner. You can search any reported company information at www.HKinventory.com/public/ReportedCompany.asp. We highly recommend our members to check before dealing with an unknown party. We have a hyperlink on home page where diverts you to the updated page directly. In additional, you will find reported companies column being included in our monthly e-News. Spending a little more time and effort will help to minimize your risk.

3. Email or Company Search
Remember to do a background check against your trading partner and do not make a rush payment. We found that many deceivers may pose as HKin.com member to gain your trust. To avoid being deceived by fraudulent emails (known as phishing), you can verify the other party by:

* Asking for the phone number and fax number, calling the numbers provided to confirm that they are available at these numbers.
* Checking with the country's business registrar to ensure that the other party is legitimate and licensed business.

Try To Use Escrow Service
Escrow service establishes a secure online trading environment. HKin.com protects Buyer and Seller by acting as a trusted third-party during the transaction and managing the payment process from the beginning to end. You can even protect yourself against poor quality goods by asking for a pre-shipment inspection of the products. Have the supplier agree to inspection as a condition of the order.
In the case of Escrow, you should always log in to HKin.com to verify information regarding your transactions. Be sure to type in www.HKin.com and never follow a link imbedded in an email. Keep in mind that an official Escrow contract must be signed by both Buyer and Seller. Our email is escrow@hkinventory.com. Make sure that correspondence emails come from our official website and not from other third parties. Please contact us directly should you have any queries.

Share Any Concerns
If you have concerns about the legitimacy of a transaction, or if you receive suspicious information that appears to conflict with other information you have received, please contact us immediately.