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4 Things To Do When You Trade

over 1 year ago DenningMR



So you are a trading businessman

Many of us are into trading nowadays. We sell from a shop, we sell from the comfort of our home. With the internet many are getting into the trading business.

The 4 Tips

No. 1 - Get a clear order

Always ensure a clear order is made to you. Best to ask for a purchase order or an email for the order.

If there is none, send an email to confirm the order. Tedious as it may be but it avoids any arguments later on.

No. 2 - Have clear terms

Make sure that the terms are crystal clear.

Is there any warranty? Are there limits to the warranty? What is the price?

Any payment for delivery? What are the terms for payment if any?

Always be clear so as to avoid any doubt.

No. 3 - Ensure that you have proof of delivery

If it's sent by mail, always keep proof of delivery.

If it is delivered by you, always have a delivery order and ensure that it is signed by the purchaser.

Get a name, IC number, date and time of the delivery with the purchaser's company stamp.

No. 4 - Follow up on the delivery

Yup ... this is extra work but so save you a lot of heartache later on, always follow up on the delivery. Ensure that its in the hands of the purchaser. Ensure that the goods are received in good condition and there is no complain. Send and email to the purchaser thanking them for accepting delivery and confirming that the goods are in satisfactory condition.

When things go wrong, when the buyer does not pay, they often dispute delivery (was not delivered in full) or they will allege that the goods delivered are not in good condition, even if they have used or sold it. This is very common.

Happy Trading!

This article is for informational purposes only and should not be taken as legal advice. Every situation is unique and dependent on the facts (ie, the circumstances surrounding your individual case) so we recommend that you consult a lawyer before considering any further action. All articles have been scrutinized by a practicing lawyer to ensure accuracy.
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