Physical verification of the industrial plant and the address of the office. Overall verification of the company's registration in the relevant authority's books. Verification of the company's legal documents.
Market feedback is the most reliable technique to vet a buyer, but if the buyer is new to India, there may be no local feedback available. In this scenario, go to LinkedIn and search for the firm name, as all reputable companies have accounts there.
Bond for Performance, This is a sort of bank guarantee that the Seller gives to the Buyer. It ensures that the Seller will adhere to the contract's conditions.
FOB stands for free on board, or freight on board. It's a term for international shipment that's often used. It's a transportation word that means the selling price of the items includes just up to a certain point of delivery at the seller's expense.
The term "free on board" refers to who is responsible for items that are damaged or destroyed during delivery. When a product is sold "FOB origin," the customer assumes all risk. The term "FOB destination" refers to the seller's risk of loss until the items are delivered to the buyer.
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