Request pre-shipment inspection when using letter of credit

by Tekle Sebhatu

Question:

When I bought with a letter of credit, I found stones in the package. Can I get my money back? Which steps would you do before you start a business? How can I understand that the seller is not real, or what would you do to check the seller?

Answer:

Unless you specifically request a pre-shipment inspection, you can find anything including trash that the seller sends you in a letter of credit transaction. If done correctly, pre-shipment inspection will help you from receiving the wrong goods. As to getting your money back, Good Luck!

Starting a business requires careful planning and considering the following:

• Form of organization
• Trade name and log
• Opening a bank account with an international bank
• Establishing your office
• Office equipments
• Business printing needs
• Accounting and taxation
• Obtaining financing