How to secure commission in Spot payment by TT? helpintrade May 13, 2014 Trade Last week we faced I deal in wish client didn’t need to sign any agreement and procedure .all what he need is to make visit to seller and see the consignment (products) if it is ok, he will make the payment on spot by TT and get the consignment loaded in his presence. In this deal buyer will not open any payment instrument payment will be directly from buyer to seller bank by TT transfer. So in this deal there’s no reason to sign NCND and MFPA as they will not help to secure commission as theirs no agreement between buyer and seller. To solve this problem and secure benefit there’s traditional way that was used before UCC rules creation. In this deal trader benefit depend on human factors, good relationship with seller or buyer that will secure and pay the commission. if you are not lucky at all and for you seller and buyer can never figure as secure person(this frequently faced) the only way to secure your benefit is to be the official seller or buyer agent and have signed agreement with fixed commission. From our practice the best way that work and secure benefit ,is to rent a safe-deposit box in bank in wish before the meeting between the 2 parties (seller-buyer) your commission must be lodged in this box and key must be one with you and one with the commission payer, after this you can arrange the meeting. In meeting if all goes with success and all parties happy with goods quality and price you collect the 2nd key and get your benefit. Remember that if your seller or buyer refuse to go ahead any of this method listed you have to stop immediately wasting your time in this deal as you will never see from it any red penny. Leave a Reply Cancel ReplyYou must be logged in to post a comment.