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Dragonicum's Safe Trading Tips

Choose the right business parters!

Safe Trading Tips is a document designed to help you in identifying trustworthy trading partners. Our priority No 1 is to create a safe and well lit business to business marketplace. While the vast majority of commerce online is completed without complications, fraud and dishonest buyers and sellers are a fact of Internet life. Dragonicum takes fraud seriously and provides guidelines to help you decrease the risk of becoming a victim of fraud.

Purchase merchandise from reputable dealers or establishments

Make sure you are purchasing merchandise from a reputable source, and directly from the company that holds the trademark or patent.

Protect yourself from fraudulent orders

All online businesses may sooner or later run into a visitor trying to make fraudulent purchases on their website at some point. Hopefully the transaction or situation can be identified and corrected before it ever becomes a real problem. 

It is very important for a business to be on the alert and able to identify fraudulent situations and orders. Some danger signs of fraudulent orders are:

  • Free Email Addresses (hotmail, gmail, yahoo, etc.)
  • Email Addresses Without Relevance to the Company Name
  • Fake Sounding Name (Ex: Ricky Dickson, Lucy Vellegas, Bob Monsen)
  • Persons who are Requesting a List of Products from You First.
  • Incorrect or Fake Phone Number
  • Incorrect or Fake Fax Number
  • Fake Website
  • Abnormally High Ticket Price
  • Different Shipping and Billing Addresses
  • Orders from Nigeria, Anywhere in Africa, Indonesia, the Philippines, or foreign orders in general.
  • Unprofessional, poor English command, misspellings
  • Requesting Expedited Shipping
  • Offering More than the Listed Price for the Product.
  • Unusual Quantity or Type of Product Ordered.

Extra caution with high-demand Items

Especially around holidays, high-demands items are associated with higher purchasing risks. Do additional checking, especially with computers, jewelry, electronics and items that are sold out in stores. If a seller claims to have a large quantity of an item that is difficult to find, do your research to verify the legitimacy of his company.

Do your research to ensure the legitimacy of the company

The costs of fraud can cause a great loss to your business, and it is definitely worth the time you use to take some extra steps for preventing it. If you receive a suspicious order - no matter small or large - we recommend you to do the following:

  • Obtain the name, address and phone number of the company
  • Contact the country's company registry to determine legitimacy of the company.
  • Research the individual and company to ensure they are authentic.
  • Call the customer to verify who they are.
  • Ask for name of other customers of the company or the individual and contact them.
  • If you find it unpleasant to speak with them, ask them kindly to forward by fax a copy of their driver's license and a copy of their invoice.
  • Be cautious when dealing with individuals outside your own country.
  • You might believe that precautions like yours are not appropriate, but we believe that most customers will be happy to verify their information to you, as prevention of fraud is a matter of great concern to us all.
  • Keep in mind - the perfect customer can fit the profile of someone ordering fraudulently.

Understand the Sellers' refund and return policies

Before you enter any contract with the Seller, make sure you have understood the sellers refund and return policies. Get everything in writing. The contract should include all terms of the deal and the promises that are made. Consider not purchasing any merchandise from Sellers whom do not provide you with all necessary information.

Check your potential partner's background

Use a credit agency to check your potential partner's credit history, and contact the company registry in your partner's country to ensure that the company exists with a valid registration.

Avoid Payment Risks

If you are doing business with a supplier for the first time, you will usually be asked to deposit 30% in advance. In this case - make sure you have done your research to ensure the legitimacy of the company before you agree to deposit, or you could ask him for a more secure way of payment, such as a letter of credit. And be extra cautious if the seller urges you to pay for the merchandise immediately or by wiring services. Real danger sings of frauds is when the seller demands you to act immediately. So do not let yourself be pressured, because it indicates clearly that the seller is more focused on payment rather than any other issues. Consider not purchasing from sellers who will not meet your requirements of safe money transactions.

Be Cautious when ordering and providing samples

When you are the Buyer; ensure that the products will meet your requirements by ordering samples of the products before committing to a purchase order.

When you are the buyer; be careful when you provide samples of resale value - because you really do not know the potential buyer's intentions - he might sell them. We will strongly recommend you to request the potential buyer for payment and shipping costs, when you are asked to provide samples of resale value. 

Pre-Shipment Inspection of the products

Merchandise products are best inspected before delivery, before shipment and before payment. The best way to check on your suppliers is at the source of manufacture or at the point of consolidation, before the goods are packed into a container. You can demand such an inspection as a condition to payment.

Letter of Credit

Is the buyer unknown to you, or maybe you have not been doing business with the buyer for very long, do not extend credit to the buyer. Avoid payment risks, and ask your buyer to open L/C, a letter of credit (a document, issued by a bank per instructions by a buyer of goods, authorizing the seller to draw a specified sum of money under specified terms, usually the receipt by the bank of certain documents within a given time)..

Shipping and delivery of merchandise

Keep in mind - there are some regions in the world with high reported incidences of fraud; Central America, Eastern Europe and West Africa. Check also the shipping address - does it match the contact address? If not - this can be a fraudulent indicator! Therefore, watch out for address inconsistencies.

Avoid Non-Delivery of merchandise

Do your homework and your research to ensure the legitimacy of the company.

And consider not purchasing anything from Sellers who will not provide you with the information you require.

Insure and track your package

Buy postal insurance for your items. It will protect you should your shipment get lost or if the buyer claims that the package was never delivered. Promptly send the tracking number to your buyer so they feel satisfied as they monitor its delivery progress. Use delivery confirmation as an added precaution.

Be extra cautious when dealing with companies outside your country

Do you homework and check the legitimacy of the company thoroughly. Beware of fake email addresses and fake websites! With some technical knowledge, it is possible for fraudsters to send fake emails and establish fake website, or even copy email address and websites of legitimate companies. 

Detect and report all online attempts of fraud

Protect yourself from online fraud by following our tips for Safe Trade Online. Keep yourself updated on reported fraud attempts on Internet which will learn you more about the signs of fraud.

In case you suspect fraud, contact your potential partner and arrange a telephone-meeting or a face-to-face meeting with him. Most buyers and sellers are honest, and the problems which may have occurred between you are often a matter of misunderstanding. 

You can also report to US Cert or IC3, which may announce the matter on their websites in order to inform and warn other Internet users.