Image of a person holding a credit card and typing on a laptop to execute an online upfront payment

Avoid upfront payment for open-market electronic components

Buying electronic components on the open market can be fraught with business risks not limited to:

  • counterfeit products,
  • fly-by-night suppliers,
  • fake or fraudulent offers or supplies, and last but not least,
  • the risk of being required to pay upfront for your order with no guarantees of the ordered products existing, or ever arriving.

To limit the risk of counterfeit products or non-conformities, Electronic Partner always strongly encourages its customers to make use of an external testing house to conduct unbiased and objective inspections and perform quality checks on the electronic components you wish to purchase on the open market.

How to avoid upfront payment requests

Most, if not all, suppliers, require upfront payment for goods, particularly at the outset of a business relationship.

This places all the risk on the customer if the supplier is less than honest.

One alternative to avoid upfront payment for electronic components is to use an intermediary entity that acts as a modern sort of “letter of credit” to safeguard and hold your money until the quality of the goods has been verified.

However, activating this type of intermediary takes a lot of time, paperwork and energy that you would normally be able to devote to other activities that grow your business.

Partner with a professional independent electronic distributor

Another alternative for customers needing to buy on the open market is to partner with a reputable and professional independent distributor of electronic components who sources authentic goods from trustworthy proven suppliers and who handles the payment processes and deliveries according to your requirements.

At Electronic Partner we pride ourselves on our professionalism in all these services. If you need to buy electronic components on the open market, why go through all those efforts yourself? Put us to the test and save yourself the trouble!

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