Verify vital credentials: Stop focusing on the registered capital information of the business, for it is absolutely useless. Focus on other vital credentials, such as business license electronic copy. The business license should establish the fact that the company is genuine product sourcing company of the intended product.
Verify Value Added Tax invoice: Verify Value Added Tax invoice as it is the best way to gain insight about any manufacturer, supplier or global online trading & sourcing company. Another information to assist you- many prominent Chinese product sourcing companies offer facilities, like drawback/ rollback on the exportation of products. This is to encourage exports by easing the process out for more exporters and make it more safe for them. However, there is a slight complication, in this case, to protect the interests of businesses too. Factories can ask for an export rollback or drawback only if it can produce a VAT invoice of 17%. Through this invoice, you can also gain information about the supplier and sourcing company’s registered business name, bank account, address etc. Therefore, from next time onward do ask for Vat invoice. Genuine businesses will be able to present a clear vat invoice and if they aren’t able to, then you need to weary about this. Do not fall prey to false excuses, unnecessary delays and reluctance to produce vat invoice.
