How to Find Buyers for Export?

Finding genuine buyers for export from India is one of the vexing problems facing an import export businessman. Because you know nothing about the foreign buyer or his market you can never be sure that you will receive payments once you ship your product off from here. On the other hand, sending your goods to a relative or friend, living abroad, does not guarantee that you will be able to sell off all your stock.

Finding a Buyer Requires Cumbersome Outreach and Costs

Because most transactions take place digitally, you might not even be able to see your buyer during the initial days of business. Language is another barrier to communication. How do you assess the financial position and the credit worthiness of a buyer who is sitting thousands of miles away in another country?

Finding a reliable foreign buyer would entail visiting the target country, attending trade exhibitions, searching online resources and verifying buyer claims with authentic shipping information at renowned international shipping ports, export promotion agencies, commodity boards, government embassies, and international trade agents. The last bit is a tedious process because it would involve contacting international shipping and customs authorities and making requests for access to information. This information is both costly and time-taking to obtain. That is why Import Export Data company exist to make your job of finding buyers easier.

Use Trading Research Companies to Find Genuine Buyers

Trading research companies deal with data in volume and hence are able to procure information for you at optimal costs. Consulting an international trade data company is convenient and lets you concentrate on the business of building your brand, trust and reputation. The process described below assumes that you have already obtained GSTIN tax ID numbers and the requisite licenses and registration papers for your business.

Register at Happily Trade Exim for Updated List of Authentic Buyers

The first order of business is to subscribe or sign up for registration. At Happily Trade Exim, all you need to register is your name, email and phone number. Prompts are easy to understand and the layout is comprehensive in manner in order to enable completion of payment.

At Happily Trade Exim you can either obtain online trade data or offline trade data. The latter gives you historical shipping information along with shipper and consignee IDs, names and registered addresses of buyers, the products they deal in and the complete specifications of weight and quantity in a unit. You will also get booking phone numbers and email addresses. Create a Request for Quotation (RFQ) describing your product in detail with ample pictures and descriptions.

How to Negotiate

Be receptive, positive and committed to negotiation. Be frank and upfront with your buyer as this helps build trust. Take suggestions about quality and safety standards for your product. When making your first deal you must be willing to make concessions in order to build long-term relationships.

Securing Foreign Trade Payments

Some of the most acceptable methods of securing payment in international trade are advance payments (where the buyer pays an amount before shipment is sent), Letters of Credit (which are legal negotiable instruments worth currency or goods and are used by both importers and exporters), Documents Against Payments (DP for short and where documents under consignment, such as a Bill of Lading, are kept until payment is made), and Documents Against Acceptance (DA for short and in which documents are not returned until acceptance of transaction terms by buyers signature.

One needs to study trends over a long period to discern historical patterns and business cycles. Platforms such as Happily Trade Exim help you gain a foothold in this hugely rewarding import export market. Make sure you understand and fulfill import export requirements to different countries. To err on the side of caution is a great trait to possess for an international trader. Talk to an expert trade consultant today!