Before you pay an advance to a chemical exporter

1. Verify the exporter on the government record

An Indian exporter holds an Importer-Exporter Code, and an Indian business that invoices holds a GSTIN. Both can be checked on public portals. Taskon’s registrations are below.

These are the registrations on Taskon’s certificates and in the footer of every page. A buyer does not need to take our word for any of them; that is the point of checking.

2. Check the name on the bank account

The account you are asked to pay should be in the same legal name as the GST and IEC records. If it is in a person’s name or a different company’s name, ask why before you pay, and confirm the account details by a phone call to a number you found yourself, not one given in the same email.

3. Get a written quotation that says everything

The quotation should state the product, the grade, the quantity, the packing, the price basis or Incoterm, the destination and the payment terms. If a detail matters to you and is not written down, it has not been agreed.

4. Ask for the documents before the money

Ask for the safety data sheet and what the certificate of analysis will report, before any payment. A manufacturer can send these without difficulty. Taskon sends the complete signed Material Safety Data Sheet with the quotation.

5. Size the first order to the trust you have

With a new supplier, a smaller first order keeps the amount at risk proportionate. Tell the supplier the running quantity you expect if it goes well, so the quotation reflects the relationship and not only the trial.

A note on how payment is structured

Payment terms are agreed between buyer and supplier for each order, and your bank can advise on the options available for an international purchase. Discuss the terms at the quotation stage, so they are written into the quotation rather than settled at the last minute.