Trade Resources News & Press Release Made-in-China .com brings forward the STS Security Trading Service

Made-in-China .com brings forward the STS Security Trading Service

In 2011, Trapped by the global sluggish economy, the Chinese Foreign Trade business circumstances was not very optimistic. Due to the economic situation has still not improved yet, people in the industry are predicting this year's Foreign Trade environment very cautiously. In order to maintain the fundamental interests of foreign trade enterprises, a war of defending Honesty and Faith was launched by Made-in-China.com in the last year. It was aim to ensure the safe transaction between buyer and seller by shielding the criminals from its source, these criminals were using false identity cards and false bank accounts as their main criminal tools. However, as far as the nature of foreign trade business is concerned, the international trade business is involved in across abroad, time and delivery cost, even after the buyer and the seller signed the contract, the suppliers still face various risks, such as payment finalization, long time L/C, credit card recall and etc. at the same time, the buyer maybe still unsatisfied with the transported goods quality, which increased the cost and difficulty for the transaction completion. To ensure the payment which is the last part of the transaction could be safely carried out, Made-in-china.com has launched the Security Trading Service (STS) at the beginning of 2012, which was aimed to provide third-party financial guarantee for international trade. Besides, in order to avoid recognition disputes would occur on product quality, Made-in-china.com was the first one to implement the cargo inspection services. After the buyer has signed the contract with the supplier, he could apply the STS Service online. The contract deposit or full payment would be controlled and saved in the Hong Kong account of Focus Technology Co., Ltd., which is the operator of Made-in-china.com, and which is also providing the third-party supervision service. After received the full payment of buyer, Made-in-china.com would notify the supplier to do shipment, which has avoid the risk of off-line transaction, such as when the ship was approaching the destination port, the buyer still hasn’t finalized the payment and even rejected the goods. When the product was inspected without any problems and confirmed by the two sides, the funds would be transferred to the designated account of Chinese suppliers from Focus Technology’s Hong kong account. If there is any disagreement existed between the two sides on the product inspection result, Made-in-china.com would also provide report from independent inspection agency as the final arbitration, which could be from one of the world's largest inspection and testing institutions-SGS or other independent inspection institutions, they would provide authoritative inspection report (IR) for the final verdict.

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