6 checks to run before paying a deposit to a foreign supplier

Before you pay a deposit to a supplier in another country, ask yourself these 6 questions.

Before you pay a deposit to a supplier in another country, ask yourself these questions: 🔎 Does the company really exist? Check its official registry, its address and its tax details. 🔎 Who signs? Do they have the power to bind the company? 🔎 Are there references from other clients you can speak to? 🔎 Does the company name match the holder of the bank account you are about to pay? 🔎 Are they asking you to pay everything up front, to an account in another country or in a third party's name? Red flag. 🔎 Will they put quality, deadlines and what happens if they don't deliver in writing? A serious supplier is not offended by these questions. They usually welcome them. A good price does not make up for being left without goods and without money. What is the first thing you check with a new supplier? 👇