Need Advise !

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11-06-2012, 06:18 AM
kanudo

Need Advise !

This will be my first time in scrap trading business and need your help. My uncle's company in India is purchasing Old sheet scrap from USA and the payment term is 100% payment in certified US bank check against shipment and one of the company representative will be there during loading. I already have company established in USA for another business which we would like to use for this transaction. So the buyer from India will deposit money in to my company's account and I will issue a certified check to the seller. So can the seller ship the load directly to the buyer in India ? Do i need any export license or any other license to do this transaction ? I will be just an agent in this transaction.
11-06-2012, 06:24 AM
PartTimeScrapper

You better call a broker.
11-06-2012, 08:08 AM
Otto

Quote:

Originally Posted by PartTimeScrapper

You better call a broker.

Ditto on that. Don't rely on a forum for legal or financial advice. It's alright for preliminary research, but not for making an actual decision. Good luck.
11-06-2012, 09:23 AM
Wolfwerx

This sounds like a scam.
11-06-2012, 10:08 AM
kanudo

Thank you all for the reply! Can you please suggest any broker?
11-06-2012, 10:13 AM
kanudo

Quote:

Originally Posted by Wolfwerx

This sounds like a scam.

What do u mean?
11-06-2012, 11:08 AM
Otto

Quote:

Originally Posted by kanudo

Thank you all for the reply! Can you please suggest any broker?

I can't suggest anyone specific, but I would advise that you talk to a few candidates locally. It's much better to do this kind of thing in person (at least to start). You might check with the trade section of the Indian embassy or local consulate. It's their job to facilitate this sort of thing.