How do you handle broker commission in an export import deal?

6 replies
Acting as a import export broker, how would you settle the commission with the manufacturer? Would you simply just give them your bank account name and number? Would it be dangerous to do so? Or it safer to ask them to send you the check? If I bring the check to the bank and the bank found out that its a fake check, will they accuse me?

Thanks!
#broker #commission #deal #export #handle #import
  • I also have this same question
    Signature

    {{ DiscussionBoard.errors[7872355].message }}
  • Profile picture of the author John Durham
    Originally Posted by zunonline View Post

    Acting as a import export broker, how would you settle the commission with the manufacturer? Would you simply just give them your bank account name and number? Would it be dangerous to do so? Or it safer to ask them to send you the check? If I bring the check to the bank and the bank found out that its a fake check, will they accuse me?

    Thanks!
    There really isnt any harm in having them wire it to you, the information that you give someone to wire you money isnt any different than the information that they would be able to read on the front of your check if you were to send them a check in the mail.

    Mostly sellers dont pay out checks until the first or 15th of the month so if you want your commission immediately, then wiring is better.
    {{ DiscussionBoard.errors[7879772].message }}
  • Profile picture of the author BDE4Live
    I'm a FXBroker and I have allot of clients that are agents, You can use a FX Broker and use them as your money processor. Open a account with them, asked them for a account numer you can use to receive funds, and then just wire back to your account.
    {{ DiscussionBoard.errors[7879917].message }}
    • Profile picture of the author John Durham
      Originally Posted by BDE4Live View Post

      I'm a FXBroker and I have allot of clients that are agents, You can use a FX Broker and use them as your money processor. Open a account with them, asked them for a account numer you can use to receive funds, and then just wire back to your account.
      I'll have to check that out. Whats the harm in just having them wire you the cash though?

      I've never had a problem with it, but I would be interested to hear your perspective.
      {{ DiscussionBoard.errors[7882825].message }}
      • Profile picture of the author BDE4Live
        Originally Posted by John Durham View Post

        I'll have to check that out. Whats the harm in just having them wire you the cash though?

        I've never had a problem with it, but I would be interested to hear your perspective.
        Sorry John, I haven't been on the forum.
        There is no harm in giving your banking info, I was just giving a solution for is question.
        Using a fx broker, will get you free wires, better rates and no one sees your information but your broker.
        {{ DiscussionBoard.errors[8245919].message }}
  • Profile picture of the author zunonline
    When you tell them to wire you the money, is it always a good practise trying to negotiate 30% first and pay the remaining when i see the product? And is it natural to request a free sample if the product cost more than 50 usd?
    Signature

    My first promoting sites, please review and comment my sewing machines review site!

    {{ DiscussionBoard.errors[7883055].message }}

Trending Topics