Friday, September 11, 2009

Understanding Trade Reference When Purchasing from Wholesalers by Worldwide Brands

By Chris Malta, Founder & CEO of Worldwide Brands

Wholesale Tips Series - How to find wholesalers, doing business with a wholesaler, what to expect when purchasing from wholesalers and more.

Tip #20

If you want an account with a genuine wholesale supplier, they will first need to determine your credit worthiness. The wholesaler’s credit department will ask you for Trade References. In a Trade Reference, you provide contact details for businesses that have traded with your business in the past. You provide a telephone (fax or email address). The wholesaler’s credit department will contact people you have previously bought from in order to research your purchase, payment and credit history.

If you are a new eBay Seller, you may not have any prior business credit history. You will have no option but to pay up front using your credit card until you have established a good track record of purchasing and paying on time with your wholesale supplier. Remember, this wholesale supplier will become a Trade Reference to help you secure credit terms with other wholesalers (provided your payment history with that wholesaler is good.)

This article concludes the "Wholesale Tip Series" by Worldwide Brands. To read all the articles (1-20) in this series, click here.

Worldwide Brands is an eBay Certified Solution Provider, providing product sourcing access and information for eBay sellers. They are the publishers of an extensive directory of legitimate, fully-verified ecommerce wholesalers and manufacturers.

No comments: