Wednesday, September 30, 2015

Make Background check for Chinese company

Background check Chinese company via 'China Checkup'

Nowadays a new online service allows businesses to verify Chinese companies quickly and affordably. Creditreform(China) is one of the leading providers of credit and risk management support services and commercial information in China.  It makes official registration checks on Chinese companies accessible to businesses around the world.

For many countries China is a very important import and export destination. Make china background check is an important step in making informed decisions and doing business safely in China. It can also help you to avoid becoming a part of China's booming fraud industry.

Matt Slater started his China business consulting company 2 years ago, and he is doing things differently to the rest. 'cnbizsearch' lets customers order Chinese company verifications online. The whole process takes place via a secure online payments system. The new service has already received a very positive feedback from the market.

"There needs to be an affordable and streamlined way to obtain this information, which more and more companies require. This is what we hope to provide through cnbizsearch."

Tips – How to avoid problems

Mr Slater also gave some recommendations for avoiding problems when doing business with Chinese companies:

1. Have a contract, and translate it into Chinese. The value of a clear contract isn't just to have something to fall back on if disputes arise. It also ensures that both parties are on the same page.

2. Make it very clear that you're serious about the relationship. Demonstrating commitment to the deal and its results from the start will serve to put off potential low-quality companies, and give high-quality companies the confidence to move forwards with you and your company. Make it clear from the beginning that you will be carrying out background checks, audits and quality inspections.

3. Take responsibility for quality. Don't make the mistake of assuming that the other party will 'fill in the gaps' or handle any oversights not fully specified. Assume that it's your responsibility to clearly and completely communicate your expectations.

4. Documents can be faked.  Take the view that documentation you are shown is meaningless until you can independently verify it through background checks and confirmations with the issuing authority.

5. Also remember that you get what you pay for. Some people doing business with Chinese companies think that the usual relationship between cost and quality doesn't apply in China. This leads to deals going bad. China may be cheaper in general, but there is certainly a limit to this. Recognise that the other party also needs to make a fair profit; if you drive prices down too far, quality will inevitably be affected.

Sunday, September 20, 2015

Choose some great smartphone accessories for your summer

Summer's just around the corner and no matter where you're headed, I bet your smartphone will be going with you. After all, it's the easiest way for you to reach out to your friends, keep in touch with your social media feeds and even take a few pictures along the way. But maybe this is the summer that your smartphone does a little bit more for you with the help of a few new accessories. Best Buy has a huge selection of neat and smart phone accessories you can take with you wherever your summer plans take you. Here are a few ideas to get you started.

A waterproof case
For most of us, summer involves the water. Whether it's out on a boat or at the beach, there are few things more relaxing than a summer swim, or the sound of the waves washing ashore. Keep your phone safe from taking a bath with a new waterproof case or underwater case. You'll have the peace of mind that your phone will be safe from some of those beachfront hazards and you can even take the opportunity to try and capture some pics underwater!

My immediate go-to for my iPhone 6 would be the Lifeproof nuud case. Members of my family have been using it for the last couple iPhone generations and they've never had a bad thing to say about it. In fact, we even went and put my cousin's to the test one night after Thanksgiving dinner and it passed with flying colours.

It goes without saying, but any waterproof case you purchase should be tested for deficiencies before you start using it on your phone full time. The nuud, for example, comes with a testing instructions and encourages you to immerse it beforehand.

A new Bluetooth Speaker
If your phone is your music hub, why not pick up a new speaker for those nights outdoors on the deck or at the park? With no wire hookups and a rechargeable battery, Bluetooth speakers are an easy and portable way to get the party, picnic or barbeque started.

If you're looking for a smaller pocket-sized speaker, the Logiix Blue Piston Speaker offers good sound quality and a long battery life (8 hours) for a device that's less than 3x3x3. It's a great option for those smaller family outings.

If you're looking for something much bigger, the Beats by Dr. Dre experience is available in a handy pill-shaped speaker. The speaker is much larger at 9x6x3 and weighs just under 3 pounds, but it's a much better option if you want to blast music into the backyard during an evening under the stars or with friends on the patio.

Something to keep your phone alive longer
I find that my phone's battery drains faster in the summer months. There's nothing scientific about it; I'm just using my phone more! My smartphone's constantly in my hand, whether it's taking pictures of my daughter on the swings or at the waterpark or flipping through and playing music while I'm out for a walk with her. I'll often find my phone at less than half battery by the middle of the day.

There are a few things you can pick up to keep your phone alive longer if you'll be doing things like camping and wanting to keep your phone alive and handy for emergency purposes. One of the easiest things to do is get a battery case, like Mophie's Juice Packs. In addition to being a great and sturdy case, it repositions the output of your music to be front-facing. More importantly, it's your backup to double the life of your iPhone's battery and once home, you can simultaneously charge both with one cable.

I admit, I'm not quite that sophisticated yet. I usually keep a power bank close in case my battery starts to run low. It's a great device to have when I'm driving around or at work and want to charge my phone in the process.

A Phone Camera Lens
To call my photography skills novice would be an insult to all photography novices. Still, I do what I can but sometimes miss out on opportunities to take great shots simply because my phone doesn't zoom in far enough. While my wife has a great camera, it's never on our minds to actually take it with us when we go out for the day. If you're the kind that likes to pack light for the day but you don't want to miss out on an opportunity to capture that summer sunset or nature shot in the distance, consider picking up a lens to enhance the range of your camera.

I've become a big fan of olloclip's offerings. They're lightweight, simple to use and slip on and off with relative ease. They're great for adding that extra range and focus to your long distance shots.

If you're taking binoculars with you anywhere this summer, you may want to consider Carson's binocular Hookupz. Your phone simply slides into the sleeve and then connects to your binoculars. You might look a bit odd when you're standing and taking the shot but the budding professional photographer in you won't regret it later on when you're looking back.

A new toy
Phone accessories don't always have to be directly for your phone. Having had the opportunity to test a few drones out, I can tell you that they're an absolute blast and are something I think you'll have fun with too.

Ted recently reviewed the DJI Phantom 3 and it passed with flying colours. While I got to test the DJI Phantom 2 and liked it, if this type of drone is in your budget, you may as well go with the latest and greatest technology.

On the ground (and much cheaper,) think about what you want and your budget as well. I really enjoyed the Sphero Ollie which was easy to control (once you got used to it) and zipped along. However, I was a bit more partial to something like Parrot's Jumping Sumo. While I found the device to be a little bit loud, it has a bit more pizzazz with its ability to do tricks and the on-board camera was great for capturing the Sumo's travels. It's a bit more of an advanced drone though and is a bit tougher to control than the others. If you're a fan of the Parrot brand but are just starting out, stick with the rolling spider. It's a far more linear driving experience, and a better model for beginners.

Wherever you go and whatever you do this summer, be sure to soak up the sunlight and make the most of your down time with a few new fun accessories for your phone.

Wednesday, September 9, 2015

Tips to Choose a Good Taobao Agent

We will review how to choose a good reliable Taobao agent, what is the best Taobao agent shopping and buying service, international shipping, commission, and many other points right now in this blog post.

Whether you have already bought from Taobao with a Taobao agent or you are preparing to place your first order and wondering if you can trust this Taobao agent, here we go with some ideas:

First, make a list of available Taobao agents you have already found through Google (or your preferred search engine) and forums about shopping or buying from China. Then, check for agent’s information, terms and conditions about payment and delivery, in the way to get a clearer picture of what it would cost you to buy from Taobao.com (and if it is worth it at all). Remember: not all items are that cheap on Taobao and not every Taobao agent provides that low commission fees for their service. So after this different comparison, make an estimation of your purchase. If the agent offers you the possibility to look for Taobao items on your behalf, give it a try, probably they can suggest you the products with a good value for money. For example, a good Taobao agent may consider the quality of the product, the price and the seller reputation. When the agent estimates that this would create a good value for you, then you should be immediately informed about the chosen item.

Second, if you are not sure about which Taobao agent to choose, try to contact each with the same request of information and wait for replies. In this way, you can estimate how reactive the agent is, as well as the quality of reply (if it answers to your question in satisfied way): understandable English, clear answer to your question… Consider also, if your own language is available for this service, normally that would make communication easy and fast.

Third, one of the most important points while buying from Taobao is international shipping fees. You might be wondering what is so special about international shipping fees. But if you buy from Taobao several items and you want a fast delivery to Europe, Northern America, Australia or even Singapore, the price is based on the weight of each 500g. So before buying the items, you should estimate the total weight of parcel and the corresponding fees. Taobao agent should give you an estimation, because it is always possible to ask the item weight from the seller. Also before international shipping, a good Taobao agent should suggest you the best way to deliver your items: it includes the choice of shipping / delivery company, optimizing the parcel weight and customs advise. You should remember that no any Taobao agent is responsible for customs clearance (if required) of the products you buy from Taobao. It should be possible to declare the shipping as non-commercial. Another fact is that most Taobao agents offer very attractive international shipping fees, sometimes going up to 70% discount. Yes, sometimes it happens, but be prepared to wait for quite a long time to get your parcel. Optimal range for a discount is 30-60%, depending on the items you want to buy.

The above are three most important elements to go through before start buying from Taobao.com. Now let’s check for more individual points about Taobao agents.

It is rather personal appreciation: check the quality of information which is present in the offer on agent’s website. This is not a rule, but often a quality information attracts more people and the conversion rate is considerably higher than for websites with poor information.

Taobao agent should be able to write and read a correct English. This is the minimum. If you have difficulties with English and Taobao agent is not clear in writing in English, then there is a great chance of misunderstanding. Probably, if English is not easy for you, try to find the agent speaking your own language first.

We will think about other points to add in the future, but it seems that it is already quite complete information to start your Taobao shopping. If you have any questions or suggestions about Taobao agents, buying from Taobao.com or other information, feel free to contact us or leave a comment.



Sunday, September 6, 2015

Managing your business' risk

Running a small business in South Africa can be a difficult thing with so many different types of risk out there.

While some of these potential hazards can complicate things, Santam understands that the more a business owner knows the better for his or her business.

At Santam we understand that the world of risks can be confusing. That is why we've identified some of forms of risk facing South African small businesses specifically as well as some practical tips to help you manage those risks.

How to manage your business' physical risk

Buildings (or your business premises) often constitute the most common type of physical risk. According to Santam's claims records over the past three years, claims as a result of wind, fire water, hail and snow damage are the most common types of claims for businesses.

As a business owner, you can manage physical risk properly by ensuring that the gutters on your premises has been cleaned (especially in winter) and that hazardous materials (such as acid, gas, flammable or poisonous materials) are stored far away from areas where it could cause damage. You can also make sure that your employees receive adequate training to handle these materials properly.

How to manage risks related to your business' location

It's always a good idea to know exactly what risks your business faces as a result of its location. You can make china company verification online if you need.

If, for example, your business is located in an area where a number of buildings have been erected in a flood-plain, you must consider the risk associated with it and ensure you get the appropriate insurance cover for your business.

Enforcing the safety of your business premises by ensuring you have proper railings, slip-proof floors, an alarm and other anti-crime measures, can help reduce your business insurance premium, regardless of where you are located.

Some technological risks to consider

According to Santam's audit and forensics team, technological risks are becoming the common cold of today's business world.  Technological risks can include anything from losing your customer data to data fraud and theft of information.

As a business owner, you have a responsibility to protect your business' technology infrastructure as well your clients' contact details and personal information. You can ensure that you have a back-up of all your computerised information by making sure your employees have been trained to back up your business' data on a separate device such as a CD, DVD or hard drive.

If, for example you lost internet access for the day, would your business grind to a halt? Make sure you have an information technology specialist on standby to assist you in the event of temporary setbacks like these.

While risk is always going to be a factor in your life as a business owner, being aware of the risks facing your business can go a long way in helping you to protect your livelihood. We hope that these practical tips will help you as a business owner reduce your exposure and minimize the impact of unforeseen events.



Monday, August 24, 2015

Reports in China: Progress or Greenwashing?

"Corporate Social Responsibility" Reports in China: Progress or Greenwashing?

Over the past decade, an increasing number of Chinese companies have begun to produce corporate social responsibility (CSR) reports. Whether that’s led to more sustainable business practices is an open question.

In 2006, State Grid was the only company in China to file a CSR report. In 2012, 1,722 Chinese companies filed CSR reports, according to a study by Syntao, a sustainability consultant. Indeed, almost a quarter of large state-owned enterprises in China filed CSR reports last year.

In theory, the purpose of CSR reports is to share information about a business’s social and environmental impact with the public. Ideally, the publication of such china credit report leads to enhanced awareness, better monitoring practices, and action to curb detrimental occurrences.

Yet while some Chinese companies have received international recognition for enhanced CSR reporting, it’s not clear the trend has translated broadly into more socially and environmentally sound policies. As Chris Marquis, an associate professor at Harvard Business School, and Yang Chen, an associate professor at Shanghai Maritime University, wrote on Dec. 5 in the online magazine Chinadialogue, “some of the same companies that were lauded for their reporting work were not necessarily following through with more responsible actions in the rest of their enterprises.”

Marquis and Yang pointed to several examples, including Baogang Group, a steel company in Inner Mongolia. The company “claims to have invested tens of millions of dollars a year in environmental protection and waste processing, and has also been recognised for its CSR and sustainability activities,” the researchers write. However, earlier this year pollution from Baogang’s facilities near the village of Dalahai was linked to “unusually high rates of cancer, along with high rates of osteoporosis and skin and respiratory diseases, and the radiation levels are ten times higher than in the surrounding countryside.” Obviously, not a sign of its commitment to principle.

At the very least, some Chinese authorities appear to have embraced the concept of corporate responsibility. In November, the Chinese Academy of Social Sciences released a blue book, or official report, on the state of CSR in China, which recommended improved reporting guidelines. Currently, the Shenzhen Stock Exchange offers training on data collection and corporate reporting methods. That makes smart business sense, as unsustainable practices may prove a future liability to growth. Even smog-choked China is looking for ways to clean up.


http://www.cnbizsearch.com/search/creditreport
 

Wednesday, August 12, 2015

Verification of a Chinese company

How the verification of a Chinese company should look like? What kind of information can be obtained through this process? Is it really an essential step, or can the whole process be skipped? We will answer these and similar questions below.

Usually, the whole process begins when we’ve finally find a suitable Chinese company. Many depend on when we made the first successful contact: if we simply received an e-mail offer, risk factor is higher than in the case in which we met our supplier during trade shows.

The most important thing that we will find out through verification process, is the type of a company and its scope of activities. Chinese companies, which are dealing in international trade, usually fall into two categories: these are either trade companies or manufacturing companies. Sometimes the former impersonates the latter, but a proper verification process will help to reveal the real identity of the company.

In many cases, the person who claims to represent the Chinese company has no legal title to do so. Therefore it is always necessary to find out, who is the legal representative of the company. As we say:chinese company credit.

Verification is helpful in revealing the physical address of the factory. It is important, if we want to proceed further and send someone to check our shipment. On the other hand, ISO 9001 certificate is awarded to a particular facility, not to the company as a whole. Companies which possess factories cannot be simply shut down overnight – it may happen though to some of the trading companies, especially after receiving our payment.

Through verification process, the authenticity of provided documents and certificates will be also checked. The rule is simple: the Chinese are able to forge everything, but the truth can usually be easily revealed.

If you want to know more about the most popular methods of fraud, documents necessary in the import process and during the custom clearance, please refer to our other guides.


Monday, September 2, 2013

Replacement costs add to OTC pricing upheaval

As dealers have slid down the ratings spectrum in recent years, options the industry gave away for free when in better health have become painfully relevant, forcing banks to confront the latest in a long line of post-crisis pricing challenges – the replacement valuation adjustment (RVA). It may be a challenge too far.

“They’re horrible,” says the head of rates trading at one large European bank. “We have no idea how to price them or manage the risk associated with them. All I know is that if we get downgraded to a certain point and our counterparties choose to exercise the option, we are going to lose a lot of money.”

The question is how much. The options, known as downgrade triggers, allow a client to terminate a trade when a counterparty hits a certain rating level and also force that party to pay for a replacement – but banks have no way of knowing how much a new dealer might charge to enter into the trade. As a rule of thumb, one trader that has replaced other banks says a downgraded dealer might be gouged for up to 10% of a trade’s net present value.

This, of course, is the law of the jungle – and traders generally do not cry about that. What makes downgrade triggers different is the systemic risk they could present in markets where they are common, and where trading is concentrated in the hands of a small number of rtls – parts of the inflation swap market, for example. Dealers and clients alike worry the downgrade of a large player in this space, and subsequent mass termination of contracts, could overwhelm the market’s ability to replace the risk.

In this scenario, traders warn the 10% rule of thumb goes out of the window – losses could be many times larger than expected. Sweeping downgrades for dealers as a whole could have a similar effect – forcing affected banks to pay their stronger peers to take on trades at a time when nobody wants to trade at all.

As a result, dealers are doing two things they would normally walk over hot coals to avoid – some are turning away business, and others are calling on regulators for help.

“If regulators are serious about systemic risk, then they should seriously look at not allowing these triggers to exist,” says one head of interest rate structuring at a European bank in London. “Calculating an RVA number will be meaningless as any number computed will be too low and wrong. There is not a lot you can do about it, especially in one-way or closed markets. It is much better to just forbid portfolio rating triggers in derivatives contracts – especially in dynamic portfolios – as they are a blunt source of systemic risk.”

Tim Blake, head of fixed-income department portfolio management at Credit Suisse in New York, says the bank no longer writes new business containing downgrade triggers. “We made the decision that we wanted to stay away from that kind of business. The risks can be unacceptable,” he says. And Credit Suisse is not alone. One other, smaller European dealer says it has the same policy, while at least three other banks claim to have imposed strict limits on the number of swaps they will accept with downgrade triggers.

The second issue is that most dealers believe there is a strong correlation between the risk of a bank’s own downgrade and the downgrade of the rest of the Street. A counterparty may be less likely to exercise the trigger if dealer ratings are all slipping, but if it does so the bank will be paying for a replacement trade in stressed conditions, which is likely to significantly inflate the bid-offer spread.

On uncollateralised trades, dealers fear the replacement cost would be even bigger. The pool of willing counterparties for these swaps has shrunk since the crisis, because of the higher funding and capital charges involved, and this could be exacerbated in the event of widespread downgrades. For collateralised trades, modelling is harder still because each bank quoting will do so on the basis of its own credit support annex – the industry standard document governing bilateral collateral posting, which determines what discount rate should be used.

Finally, RVA should take into account the possibility that the new trade will also incorporate a downgrade trigger and that quoting banks may want to insulate themselves by charging an RVA premium, and that this premium needs to reflect the same fact, and so on, in a dizzying, never-ending cascade of downgrades and replacement charges, each of which would be determined by the same incalculable risks that are contained in the first.

The bottom line is that termination costs can be high, but there is no way of confidently putting a number on them – RVA resides in the land of informed guesses, ballpark figures and back-of-the-envelope calculations. It’s not the kind of thing a dealer is generally happy to quote to a client or explain to a risk manager.

“On a trade with a mark-to-market value of, say, $100 million, a general rule is that firms will take you for $5 million–10 million, just because they can. And we’ve seen this done. We have replaced people, it’s an opportunity to profit,” says one derivatives trader at a European bank.

It can be more painful than that, too. Peter Shapiro, managing director at independent swap adviser Swap Financial, which advises governments, government agencies and non-profit organisations, says he has advised on close-outs in which local US government entities were holding heavily out-of-the-money swaps and the banks were paying to step in as replacements often quoted at steep discounts.

All these issues are magnified in illiquid, concentrated markets – and a number of traders point to the long-dated, LDI-driven inflation swap market in the UK as a prime example. The market is dominated by five or six players, they say, and triggers are a common feature of these trades – so, if one of the bigger houses is downgraded, all hell could break loose.

“Rating triggers are, by their nature, wrong-way risk and are hard to quantify. But even more problematic is when these triggers are being used in a space where the underlying product flow is systemic. All banks will be same way round and a trigger will then catapult the bid-offer to unknown but most likely extreme levels – even more so when liquidity and capacity is also a constraint. Inflation and exotics markets are exposed to this kind of risk. We think this is a source of systemic risk. It is being used and pushed by pension funds and we are trying to dissuade the community from relying on these triggers,” says Guido Hebert, global head of rates structuring at HSBC in London.

The UK inflation swap market is intensely competitive, with bid-offer spreads typically between 2 and 4 basis points, traders say. But in stressed market conditions, the spreads can get as wide as 10bp, according to a trader at a large LDI manager. For a £10 billion inflation swap portfolio with an average maturity of 20 years and a £20 million sensitivity to a 1bp change in inflation – known as IE01 – this means paying the full bid-offer spread (5bp from mid-market) would result in a cost of £100 million.

Read the full products at http://www.ecived.com/en/!