Wholesale Blog -Trading Wholesale & Overstocks with www.thebiggestclearance.com b2b marketplace

TheBiggestClearance.com: Excess Stock, Overstock, Surplus Stock, Liquidation, Wholesale Clearance

2010-09-29T11:44:00.000-07:00

TheBiggestClearance.com: Excess Stock, Overstock, Surplus Stock, Liquidation, Wholesale Clearance

HOW TO SPOT AND AVOID SCAMMERS ?

2010-08-03T03:46:00.000-07:00

Why do we fall for the scammers ? Why do we let them fool us so easily ? A similar article came out on our WHOLESALE FORUMS maybe about a week ago, but there is never enough talk on this issue.

The answer is very easy.

Because we let the scammer roll the ball and play his game. We get too sensitive, excited and don want want the bargain slip away, no no.

Most of the times we get too over excited over an amazing price deal that we see on the website and we must have it before anybody else.

This over excitement stops us from questioning and even thinking how come do i get such a great price deal for goods that cost double or even triple the price in the shop ??

This can not be true but i must have it.

And this is where the scammer plays his role to give us many answers why his stock is so cheap and totally blinds us with his story.

But your first intuition was correct – this can not be true ! And it is probably not.

So stick to the rules to be safe :

1. DO NOT FALL FOR A „CANNOT BE TRUE“ LOOKING DEAL AND PRICE !

Now i am talking about the high end mobile phones, electronics and Sony Playstation games what did not even come out yet. I am talking about the impossible deals on Ipads for ? 150 each and bargain deals on the newest electronics.

In the world of liquidation and overstock clearance this could be a different story though. Here we could come across to many great price deals for many reasons like customer returns, stock clearance, liquidation, bankrupted stock etc.

You should use your common sense here, can you really get a liquidated stock or clearance stock of the latest laptops or Ipads, boxed and new for under ? 150 each with the full warranty ?

I really do not think so.

2. BE SUSPICIOUS !

If you noticed that sellers contact details have changed unexpectedly, start being suspicious.

If you see the sellers contact email address as hotmail.com, aol.com, yahoo.com and other free email providers, start being suspicious.

Be extremely suspicious with electronics, few pcs stock lots and payment no other then Paypal !

3. DO YOUR HOMEWORK !

We provide you with all sellers contact information, so use it ! We do not keep any information for our selves.

Contact the seller prior to your purchase, ask him to provide additional information.

Or what is even better ? Of course if you can, go and visit the seller, go and visit the stock to see for your self.

I understand in many cases you cannot do it, but for sure we can. We can offer you to go and inspect the stock on your behalf. Just give us the exact specifications and what exactly you are looking for and we will do the inspection for you. This is paid service however, but worthy if you thinking of spending quite a lot of money.

If the seller is a company, ask for the company registration number, ask for VAT number, check them out.

Google the sellers name and address. Ask the seller for any verification documents, copy of the ID, passport, utility bill for the address confirmation.

Look at it this way, if the seller has nothing to hide and is 100 % legit, he should not have problem supplying you all the additional information.

Do not buy any stock lot only based on a free email address, postal address and a good telephone conversation. This is just not good enough.

4. DO NOT USE POSTAL ORDERS, MONEY GRAM OR WESTERN UNION.

These payment options are extremely UNSAFE and it may happen that you will never see your money again.

When using Paypal, do not forget that YOU ARE NOT COVERED by Paypals buyer protection. You are not shopping on Ebay and Paypal Buyer Protection only works on Ebay unfortunately.

When paying by Paypal, make sure your seller is Paypal VERIFIED !

5. GIVE SELLER YOUR OWN RULES AND PLAY YOUR GAME !

You are the one with the money at the end of the day.

Offer a seller use of Escrow as a safer option, offer a letter of credit or payment with your solicitor.

Do not let the seller suggest his own solicitor and if you did, make sure you check them out properly. If the solicitor is legit, you should be able to find a good amount of information on Google.

If your seller agrees to an Escrow transaction, do not let the him suggest one. Only choose the one you have in mind as reputable and trusted one. ( www.escrow.com , www.moneybookers.com )

There are plenty of scam escrow services all over the internet, so keep this in mind.

Do not make any transactions based on free email account and Paypal Unverified user account.

6. IF YOU SEE SOMETHING FISHY, IMMEDIATELY REPORT it.

At least we have some time to investigate the issue and hopefully avoid the fraud and tears. Use your common sense.

Consumer Electronics, Wholesale Samsung DVD-H1080R - 650 units

2010-08-03T03:34:00.000-07:00

Number of pallets/trucks: 3 pallets (will confirm)
Take all deal or minimum amount to be purchased : Take all Offer deadline - 6/10/10
Retail boxed : yes
Case Packed : no
Release letters or hazmat sheets required (i.e., no lead in toys) no
Any restrictions on the purchase, such as Export Only or relabeling : No restrictions
When will inventory be available for pickup after payment is made? 1 business day
Any Warranty : one year full manufactured warranty

Manifest if possible
quantity available for sale: 650 DVD Players
Description of items: one SKU, Samsung DVD-H1080R
Product: DVD Players FOB (Freight On Board shipping origination point) Cranbury, NJ
Condition – New

Hair Colours for woman stocklot - EURO 1.20 /unit - Stock Liquidation/ Closeout Sale

2010-08-03T03:28:00.000-07:00

Brand: FARMEN
Conditions: Brand New
Details: Stocklot of different Colour Hair creams for woman / Only A Grade quality – new and single confection
Colours:
Ramed red / Rosso ramato
Chocolate / Cioccolato
Caramel / Caramello
Blonde / Biondo
Black / Nero
Nuts / Castano
Grey / Cenere
Quantity: 30,000 pcs
Availibility: Immediate – ready to be shipped (Except sold)
Location: Italy warehouse.
Loading Volume: NA
Price: Euro 1.20 /pc at TAKE ALL at E.X.W. Italy Conditions as per Incoterms 2000 conditions.
Notes: The proposed items can be selled everywhere without restrictions
Payments: Accepted payments- A) 40 % At sight B) 60 % Once delivered in port
Freight: The item wille be furnished at CiF conditions after destination point comunication (with adding freight costs)
Remarks: THE GOODS WILL NOT BE RELEASED IF NOT TOTALLY PAID
Total Price: EURO 36000.00

Trading Wholesale, Overstock, Excess and Surplus - The power of the B2B Marketplace

2010-06-27T04:17:00.000-07:00

FOR IMMEDIATE RELEASE

June 27, 2010 -- The power of B2B Marketplace ~ Overstock, Wholesale, Liquidation Sales, Surplus and Excess Stock trading B2B Marketplace

An overstock, excess stock, bankrupted, liquidated stock, surplus stock, customer returns, out of season stock , you name it, this might be a costly problem for some businesses. How to turn the warehouse leftovers back to cash ?

Overstock, liquidation, stock clearance and wholesale trading B2B e-marketplace, as its name already suggests, TheBiggestClearance.com has a lot to offer.

Most companies from time to time end up with overstocks, surplus goods, liquidated goods and excess stock. Stock Clearance is a process by which companies free up valuable money and space. Reasons leading to stock clearance could be canceled orders or late deliveries, closing down of business, bankruptcy, overproduction, customer returns etc. This stock literally means dead cash taking up space in the warehouse, losing its value.

TheBiggestClearance.com came up with a solution to this problem and gives entrepreneurs and businesses an online space and network to actively turn their surplus into cash .

The marketplace started in the time of the biggest economic crisis working closely with manufacturers, liquidators, bankrupted businesses, wholesalers, distributors and retailers to help them deal with and sell their bankrupted stock and merchandise of almost any kind and description that won't or couldn't be sold through the regular retail channels.

“We had as many daily inquiries as the sea has fish”

said Eric Randolf the CEO of the company.

These included merchandise from inventory overruns, closeouts, clearances or packaging changes as well as goods from bankruptcies, liquidations, receiverships and insurance claims, however a great percentage of the goods sold on the Marketplace still comes from the healthy manufacturers and retailers who occasionally need help clearing overstock and excess stock inventories.

“Our aim is to establish a large, leading and respected worldwide network used by thousands of companies on daily basis selling, buying or trading excess and overstocks. The way it works couldn’t be any simpler, just post your listing, receive enquiries and make a sale.”

, commented Randolf.

TheBiggestClearance.com launches its first online Marketplace in 2008. The Marketplace is firstly dedicated only to the EU countries for the free trade of goods and soon adopted by many European businesses to help them clear out their warehouses. For the unexpected success, a year later in 2009, the e-marketplace expands to the whole world.
Today the marketplace offers a great source of daily wholesale deals .

“We managed to establish a rich network of buyers searching the marketplace website everyday for the new bargains, sellers on the other hand don't hesitate to list their stock lots for sale. They know they could sell them fast and effectively as the whole world can see what’s on offer.”

, commented Eric Randolf.

“When it comes to liquidation and stock clearance, this could be a tricky task as the options are mostly limited. At the end of the day, you want to make the most out of your laying bulk, something had to change to help others to face this issue. Therefore we came up with the e-marketplace which meant to help businesses to solve the problem of laying stock and turn their excess into cash fast and efficiently.”

, commenting Randolf, experienced wholesaler.

TheBiggestClearance.com is a really the biggest clearance and the powerful platform filled up with daily great wholesale offers attracting thousands of customers in a day. And for many frustrated wholesalers ?,a shrine.

Eric Randolf
Managing Director
eric.randolf@thebiggestclearance.com
www.thebiggestclearance.com

How to Open an Online Wholesale Store on TheBiggestClearance.com - wikiHow

2010-06-26T10:59:00.000-07:00

How to Open an Online Wholesale Store

from wikiHow - The How to Manual That You Can Edit

This step by step article should quickly guide you through the process of setting up your own online wholesale store on The Biggest Clearance. Setting up a Store is very easy way to get you a great online exposure and visibility and that is with no doubt what every wholesale supplier is after.

Steps

Register for an account. You need an account to get you started and to start trading your wholesale stock lots and overstock bulks on the site, however no fees charged and the whole process of registering is pretty straightforward an only takes you couple of minutes to sign up.
Sign in to your newly created account and go to "See my Store". This is you The Biggest Clearance Store. Here you will present your self and your business to the buyers and other users and wholesale suppliers. This is your shop window, here you'll display the wholesale stock lots that are currently for sale.
Edit your Profile ~ your Business Card. Your business card is essential to introduce your self. Many buyers will stop at your profile driven by your great wholesale stock lot offer they saw on The Biggest Clearance Marketplace website. Your business card should certainly include all important information about you or your business.
- Contact information like name and surname is essential, correct postal address is also a need.
- "About Me". The Biggest Clearance Stores allow you to write a short description of your business. Tell other users and your buyers what you sell, what you trade or what are you after.
- Business information, company name, registered office, company registration number, VAT etc.
- Phone, fax and email. Make sure you provide your buyers with as much contact information as you can, so they can easily get in touch.
- URL or Blog. Mention your website or blog if you have one.
See your Business Card. Click this button to see your Business Card now. Add more information that might be missing by going to "Edit my Business Card". Your Business Card is visible to other registered users, buyers or sellers of the marketplace. They can whenever enter your online store and view your online Business Card, so you really want it to look presentable.
Get your stock lots listed for sale. Listing your wholesale lots, stock lots and wholesale products is really simple. Just click on the "Post New Listing" button and this will take you to the stock submission form. Fill up all necessary information about your stock lot for sale :
- Quantity - how many items are for sale in your stock lot
- MOQ ~ Minimum Order Quantity
- Price, Total Price, Price per item in the lot
- Shipping & Delivery
- Describe well what you are selling, do not keep any relevant information to your self. Be honest mention everything, it might be an issue later.
- Upload Pictures. Picture tells a thousand words, so make sure you upload a good set of pictures of your actual stock lot for sale.
- Upload a Manifest ~ Packing List. This is the exact list of all items in your lot, this should include, type and quantity, description, retail price, your selling price and any relevant information.
- Payment & Warranty. Inform buyers on your Payment Options and whether you offer warranty on your stock or accept returns.
- Give the buyers as much information as you can. For A, it will save you the hassle of answering to many questions from buyers and for B, it will avoid any issues after the sale.
Submit the listing and wait for administrator to approve. This is usually quite fast and your new stock listing should be approved and published very shortly.
CONGRATULATIONS. Your stock lot has been published on the Marketplace and added to your STORE
So what to do next ?
- Once your stock lot is submitted, it automatically shows up in your online STORE. Your Store is you unique URL. For example : ( These are dead and only sample URL's ) USERNAME.thebiggestclearance.com ( USERNAME here is your login Username to youur members account. Should you have a Username that consists of 2 or more words with a space between, replace the space with the dash. For Example : USERNAME-USERNAME.thebiggestclearance.com )
- The URL of your Store will always lead your buyers directly to your online Store where everything you have currently up for sale is clearly visible. From this page buyers will be able to search your store for keywords, see all your stock lots you are selling, see your Business Card, contact you and make an enquiry.
- The site provides you with a nice selection of the Store badges and Icons. These can then be placed onto your own website, into your newsletters or emails, blogs etc. You can even post a new message onto you Twitter or Facebook wall including the URL link of your online Store to let your friends know that your Store is up and running and invite them to see what you have on offer.
- When your visitor clicks the badge or link, this will take him directly to your new Store. All badges are located under the Promote My Store button in the Store menu panel.
- I hope this helps, for more detailed information, visit the help section.

Tips

When putting up your wholesale lots up for sale, give a good description of what exactly are you selling, be honest, don't withhold any information that might be an issue later.
Picture tells a thousand words, so make sure you provide good pictures of your wholesale lot and what is up for sale.
Start with a higher price. Use the fact that you're showing your overstock to thousands of buyers at once. There must be someone to buy your stock for a little higher. It's business at the end of the day. And if there's really no one to buy at this price, go back to the plan A price.

Sources and Citations

Help & Guides section
Shared with permission from TheBiggestClearance.Com

Article provided by wikiHow, a wiki how-to manual. Please edit this article and find author credits at the original wikiHow article on How to Open an Online Wholesale Store. All content on wikiHow can be shared under a Creative Commons license.

How to verify your wholesale supplier ?

2010-06-26T07:58:00.000-07:00

How to Verify Your Wholesale Supplier

from wikiHow - The How to Manual That You Can Edit

Many overstock, liquidation and surplus stock sales are happening generally in minutes. The total price of the wholesale liquidated stock is here usually the most important factor to make up your mind. You'll receive an amazing stock offer and you have to act really fast as there are potentially tens of buyers hungry after this wholesale bargain deal.
But how do you know that your supplier is really genuine and he is what he really says he is ? How do you do a security check or verify your wholesale supplier. This could be a tricky and frustrating task, but here are some useful tips to get you started.

Steps

Ask for the VAT or a copy of Tax ID, Company Registration number and full company details. Google could be a good tool to research who're you're dealing with. With the individuals this could get a little tricky as there are not many options, but i suggest you ask for the bank details, also relevant to verifying a company.
- In US you can use the website bbb.org ( Better Business Bureau ), try to find you company there. Equivalent of this in UK could be oft.gov.uk Office of Fair Trading.
- Try to make a search for you company there, see if anything pops up. You can also try and search for companies and individuals on websites like ripoffreport.com
Use these useful tips for dealing with and and verifying Chinese companies or "businesses" however these could be very relevant to verifying any company.
- Some Chinese companies - even some paid members of trade websites - are scammers. Your business is not legally protected by Chinese authorities if you are dealing with an illegal company. Buyers need to verify potential suppliers first.
- Unfortunately, while there are some Chinese websites that can help provide company verification, there is little support for us English speakers. So, here are some tips to help you be sure you are dealing with a valid supplier.
Contact Information. Most of the time, scammers do not provide correct business contact information. They submit a false address, telephone number, etc. I recommend that ALL buyers make personal contact with suppliers before concluding a sale.
Company Verification. Every legal company in China needs to be registered with Chinese government authorities at the Bureau of Industry & Commerce (BIC). Once approved, each company is provided with a unique company number. Be sure to get this number from suppliers - if they cannot provide one, walk away. Once you have the number, check with the local BIC administration office to verify company information. (NOTE: You will likely need to have someone Chinese make the call, as English is not supported).
- In China, all companies that wish to import and export must apply for and obtain a Certificate of Import & Export from Ministry of Commerce and its authorized local agencies in China. This must be done after a company has registered at their local BIC. In addition, trade companies have to register with Chinese Customs House and its regional branches before conducting formal business with international businesses. Buyers should ask suppliers for their company number from BIC, as well as a copy of their Certificate of Import & Export.
Payment Terms. Scammers never accept Letter of Credit (LC) payments. The fraudsters of the world prefer Western Union, TT and PayPal payments - as these cannot be traced. Buyers making a large purchase should definitely pay be LC. For sample orders and smaller shipments, consider using an escrow service (like Escrow.com).
Customer Referrals. Professional suppliers understand the value and power of customer referrals. Before finalizing an order, ask the supplier to provide names and contact information for some of their satisfied buyers. You may wish to start by asking if they have shipped product to your country before. If they say yes, get customer referrals there. If not, ask what other countries they have sold to and get info for some of those customers.
Unbelievable Prices. Part of the lure of scammers is to offer products at truly unbeatable prices. But, the reason they can offer such low prices is that you will never get the product - so who cares what the sales price is? Consider this: If the deal sounds too good to be true, it probably is.
Branded Products. China is famous for selling copied versions of branded products, such as watches, electronics, shoes, handbags, golf clubs and more. At the same time, there are a number of legitimate Chinese producers of branded products, that sell surplus quantities illegally. Buyers should note that while a Chinese company may provide you with a certificate indicating they have the right to produce the branded item, this certainly does NOT authorize them to resell those items. Check the wording carefully.
- Chinese suppliers provide buyers with real opportunities for cost savings. Just remember that without conducting appropriate due diligence, you are going into the deal blind and putting yourself at risk. Like in the rest of the world, most businesses are professional. With a little research, buyers can trade confidently and develop valuable business relationships.
- These are very good Tips to start your own verification for any supplier before you send them money !! Anyone can make their shop window look nice with great products to choose from, it's what's inside that counts
- With suppliers that have their web sites online for years not months, this is a good way to trust them, it would take some time before bad feedback filters through the internet, so with new websites under 1 years you have to be more on the cautious side. When we really trust a person or a supplier, we can send any payment type as we know there is no problem with the security of this money, suppliers that have a long term business and with a good reputation would never cause any problems to their business with poor products and bad customer service, but when you deal with scammers they would promise you the world, but most would only want payments like W/U with no security for the buyer, many buyers like to use Pay Pal, but once again for real suppliers that's fine not for a supplier that would close his accounts after he as made his money from this scam !!
Payments like COD or L/C seem to be better for the buyers, but remember to think clear, what's inside the container or box?, even is i order a DVD on COD, when the item comes, i open the box see the DVD looks fine, pay the deliver guy, later i try the DVD, there is no contents inside, this scam is old but has caught so many people out, and before you reply to me and say why do i show these details of scams, like the scammers would learn from this post, be real, scammers know more than than you think, this is their life, the fact is if you have a need for a product or service the scam is so easy.
- How many people have bought from suppliers that sell, "20 x video cameras in boxes complete new model" UNTESTED, low prices but how easy is it to test them, and sell for more money, so the fact is you be lucky to get 3-5 out of them working by using the parts from others, and the time and cost is not worth business.
- How many people would buy a tin of food from a supermarket with no label on it?, not got a clue of the contents, only that the sell by date is ok, well i would not buy, best to get the tin i want and know the brand i can trust, and so many buyers do the same with these suppliers selling Phones, Games, Laptops,,,, THEY TAKE A CHANCE and hope they get a bargain of a life time deal.

Sources and Citations

Shared with permission from TheBiggestClearance.Com

Article provided by wikiHow, a wiki how-to manual. Please edit this article and find author credits at the original wikiHow article on How to Verify Your Wholesale Supplier. All content on wikiHow can be shared under a Creative Commons license.

New Wholesale Stock Listing Added to TheBiggestClearance.com - wholesale pallet of TOYS! TOYS! TOYS!

2010-05-24T17:04:00.000-07:00

Seven feet (7') tall pallet of popular toys including but not limited to barbies, digital photo albums, hovercrafts, helicopters, remote control cars, remote control dragonflies, popular games and such. Majority of toys are by Fisher Price & Mattel, some Disney & Tonka. There maybe some of American Idol, Dora, Vigot or Flytech. Very high value pallet. Sells beautifully. We have new merchendise every few days. Goods are sold by pallete. There are too many of them to provide manifest. Numbers of toys per pallete will vary depending on their sizes. SOLD BY PALLETE. 2–5 Pallets: $1399 per pallete.

Sport Shoes at USD 3.19 - Factory clearance stock - New listing added to TheBiggestClearance.com

2010-05-24T16:58:00.000-07:00

stocklot fashion sport shoe,closeout athletic shoe,female basketball shoe.

We are an import & export enterprise in china, specializing in PP woven bag, paper bag, nonwoven bag, stocklot, closeout, vendor inventory, odd lots, stock lots, stock garment, home textile, suitcases, bags, kitchenware, footwear etc.

We have the following closeout sport shoe stock for sale : basketball shoe for sale.

product name stock sport shoe material

color : green, purple

size : 35–39

quantity : 180 stock

location : china

Stock lot of CONVERSE shoes for sale

2010-05-24T16:45:00.000-07:00

Converse Athletic Shoes including stylish hi-tops for Men (60%-70%) and Women: Stylish Hi-tops and sneakers shoes. SIZES Range: Men/Women Size 6.5 through 12.

TheBiggestClearance.com: Excess Stock, Overstock, Surplus Stock, Liquidation, Wholesale Clearance

2010-05-16T04:44:00.000-07:00

TheBiggestClearance.com: Excess Stock, Overstock, Surplus Stock, Liquidation, Wholesale Clearance

Geographical Interpretations ( Part 3 )

2010-01-06T10:33:00.000-08:00

Australia

In Australia, all forms of bankruptcy are governed by legislation that is entitled The Bankruptcy Act 1966 (Commonwealth). According to this, the act of becoming bankrupt is only available to individuals. In the case of companies classified as insolvent, they are required to go into administration, which is alternatively known as liquidation. This legislation has three provisions which cover almost all the applications for bankruptcy. They are:
Parts 9 and 10, which relate to Debt Agreements and Personal Insolvency Agreements respectively. Both these Parts refer solely to arrangements between debtors and creditors.
Part 4, which relates to Full Bankruptcy. It is, in fact, only this Part that relates solely to an application for actual bankruptcy.

An individual can apply to have themselves declared bankrupt by approaching the Official Receiver and submitting what is described as a debtor's petition. Such a course of action is administered by the Insolvency and Trustee Service of Australia, or ITSA. There is an alternative way in which an individual can be made bankrupt, viz. a sequestration order is made in the Federal Magistrates Court following a creditor's petition. An essential criterion for the lodging of a creditor"s petition or for an individual"s bankruptcy application is that the debt itself must have a minimum value of $2,000.

It is essential that a document entitled a Statement of Affairs is lodged with the ITSA by those deemed as bankrupt. Such a document gives details relating to all of their assets and liabilities. Until the ITSA has received this Statement, a bankruptcy cannot be set aside.

Once the filing of the Statement of Affairs has been made with the ITSA, a bankruptcy relating to Part IV categorisation has a lifespan of three years. Once the Statement has been filed, the three year timescale in respect of a debtor's petition would begin without delay. In the case of a creditor"s petition, the sequestration order to the Federal Magistrates Court is normally made first. Once this has been done then, and only then, can the Statement of Affairs be duly filed. Further, should the Statement be lodged outside a certain period of time, the bankrupt may be liable for prosecution and /or a fine.

The bankrupts estate is administered, in respect of all matters, by an appointed Bankruptcy Trustee, such as an Official Receiver. The role of the Trustee includes:
Ensuring that each of the creditors are informed about all relevant aspects of the estate, and handling any enquiries
Making sure that the bankrupt complies with all the pertinent requirements of the Bankruptcy Act
Maintaining full control of all aspects of the bankrupt's financial affairs
Ensuring that, under the Banking Act, whatever funds the estate is entitled to are duly realised, together with the distribution of any dividends to the creditors that may ensue

It is an essential requirement of all bankrupts that, during the period in which they are classified as bankrupt, they are subject to certain restrictions as laid down in the Act. Examples of such restrictions include:
The bankrupt must receive the appropriate permissions from the Trustee in order to be able to travel overseas
The bankrupt must make available to the Trustee full details of all income received, from whatever sources, and realisable assets. Accordingly, should the income details turn out to be incomplete, then the Trustee is entitled to lodge an Objection to Discharge. The result of this is that the bankruptcy status is extended for a further five years.

To be continued..

History: Continued ( Part 2 )

2010-01-02T00:19:00.000-08:00

Since such banking practices were common in Italy, it has been suggested that the Italian words banco rotto, or broken bank, represents the true meaning of the term bankruptcy. Alternatively, some derive the word from the French banque, or table.

Finally, it has been possible to identify the origin of bankrupts from the ancient Roman mensarii or argentarii. They placed their tabernae, or table, or mensae in public places and conducted their business. Should they decide to flee with the money that had been entrusted to them, then all that would be left would be the sign marking the spot where they had conducted their business.

In 1557, 1560, 1575 and 1596, Phillip 2nd of Spain was forced to make public that four separate state banks were insolvent, and so Spain was the first country to declare bankruptcy.

In 1705, a statute was introduced into Anglo-American bankruptcy litigation. Accordingly, should a bankrupt make every effort to repay the outstanding debt, he would be rewarded with the discharge of the outstanding sums.

There is documentary evidence that bankruptcy was commonplace in the Far East. According to a law laid down by Genghis Khan, there was a clause that established the death penalty for anyone who became bankrupt three times.

Current Practices

In the past, for those businesses or individuals who found themselves in a position in which continued trading was not possible, there was little alternative but to close down.

However, things have moved on from this archaic and matter-of-fact treatment. The emphasis today is on restructuring the outstanding debt. This means that the original debt is reviewed in order to determine if there was any means whereby more favourable terms could be secured, so enabling trading to be maintained. In essence, therefore, the focus is on the remodeling of the financial and organisational structure of the debtors experiencing financial distress.

Bankruptcy fraud is classified as a crime. Under current laws relating to bankruptcy, typical common criminal acts include assets which have not been notified to the authorities, relevant documents which have been deliberately destroyed or withheld, various forms of conflict of interest, claims that have been knowingly misleading, false statements or declarations, and fee fixing or redistribution arrangements.

Where bankruptcy forms contain information that has been found to be false, this my lead to a charge of perjury, which is the act of lying or making false statements, that can be verified, on a material matter under oath in a court of law. Filing more than one petition for bankruptcy may not in itself be a criminal act, but it may well violate provisions of bankruptcy law.

In the U.S, laws relating to bankruptcy fraud are particularly focused on the mental state of the participant. Under established common law, the guilt or innocence of a person rested on whether they had committed the crime, and whether they intended to commit the crime.

Bankruptcy fraud is completely different from strategic bankruptcy, which itself may occur when an otherwise solvent company makes use of the bankruptcy laws for some specific business purpose. Although the latter is not designated as a criminal act, it may still act against the filer of the bankruptcy petition.

By : Peter Radford

Bankruptcy - All About it and How to Succeed ( Part 1 )

2009-12-31T01:41:00.000-08:00

Bankruptcy… a frightening word with serious connotations. In recent years governments have been cracking down, making penalties for bankruptcy more severe in an attempt to make them more difficult to attain so that only those in serious need can apply for them.

Despite the negative image that is associated with bankruptcy and the various problems that come along with declaring a bankruptcy, it doesn't have to be frightening; after all, bankruptcy was designed as a way for those individuals and businesses who find that their finances are out of control to get the help that they need to organize their finances and pay off their debts.

Once you take the time to understand what bankruptcy is and how it works, you won't find it as scary as you did at first.

Defining Bankruptcy

Bankruptcy is a legal term, meaning that an individual cannot within reason pay off their various debts and have allowed the court system to take over their finances for this purpose.

When filing for bankruptcy, the court will appoint someone to work out the payments to your creditors and to determine how much of your income must go to repay these debts. The court will either allow you to make payments, or more likely will deduct a portion of your paycheck toward this goal.

During this time, your credit will be limited… both by legal action and by the reluctance of creditors to issue credit lines to individuals who have declared bankruptcy.

Once the total amount set by the court has been repaid, the bankruptcy will be discharged and you will be able to start rebuilding your credit from the ground up.

Different Types of Bankruptcy

Several different types of bankruptcy exist, defined by legal codes for certain purposes. The exact types of bankruptcy available differ from one country to the next… in the United Kingdom bankruptcy can only legally be applied to individuals and partnerships, whereas in other countries such as the United States or Canada they can be applied to businesses as well.

Regardless of the limitations or allowances set by the government on who is allowed to declare bankruptcy, the general purpose of bankruptcy remains the same.

Lasting Effects of Bankruptcy

While you are working towards discharging a bankruptcy, your options for credit will be exceedingly limited. Even after you've had your bankruptcy filing discharged, though, you'll still find that you won't have many options for a while… many creditors will still be hesitant to work with you from between six months to two years depending upon the creditor and the service that you're applying for.

You should also take care with any offers that you do receive, because they will likely come with high interest rates and additional fees attached.

Life After Bankruptcy

Bankruptcy isn't the end of the world… it's actually a chance for a new beginning. As time goes by, the bankruptcy on your credit report will begin to matter less and less as you eventually start to establish new positive credit lines and build up your credit again.

Just like negative reports, your bankruptcy will eventually expire from your credit history; the process may take up to seven years, and until it expires there will still be those who are hesitant to deal with you.

Once it expires, however, the negative reports that preceded it will also be long gone… and you'll find that your newer reports are all that remain.

Bankruptcy refers to the inability of an individual or organisation to pay their creditors, which refers to those parties who have provided a product or service that has yet to be paid for by the recipient of that product or service.

Involuntary bankruptcy is a process by which a creditor may instigate proceedings against a debtor for bankruptcy in order to recover monies that are outstanding

However, in most cases, it is the debtor who is the initiator of any such proceedings. This is called voluntary bankruptcy, and is filed by the bankrupt individual or organisation.

History

Before the conquest of Greece by the Romans, the concept of bankruptcy did not exist. If a father, who was the sole legal owner of property at that time, could not settle his outstanding bills, then his entire family found themselves in a form of debt slavery. This status was maintained until the arrears were cleared through the toil of the family’s labour. However, some cities limited the period of such enforced labour to a maximum of five years.

The origin of the word bankruptcy dates back to the Latin words bancus, or table, and ruptus, or broken. The first bankers set up a bench in the markets and public places and conducted their financial affairs. However, should a banker’s business fail, he broke his bench, which was referred to as his bank, so that everyone knew that this particular bank was unable to trade.

Between 1557 and 1596, there were four state banks that were foreclosed in Spain. This was the first time that a country declared an institution bankrupt.

In 1705, an Anglo-American statute was introduced in which a bankrupt’s unpaid debts were waived on the proviso that he cooperated in the settlement of as much of the debt as he was able to accomplish.

Written By : Peter Radford & John Mussi

Posted by : www.thebiggestclearance.com - Wholesale, Overstock & Liquidation Marketplace

Consumers can't resist a bargain

2009-12-30T07:41:00.000-08:00

This year hasn't been all bad. The tough economic climate has shown how resilient our sector is and it's impressive how businesses have managed to adapt. We operate in a diverse industry servicing everything from care homes to hospitals to schools, pubs and hotels. And whilst the cost sector has continued to turn in consistent trade, performance has been hit harder in the profit sector requiring imagination to win through.

That has been seen through the deals that have sprung up as operators fight for their trade: the £4.99 carvery, the £29-a-night boutique hotel, the meal deals. Innovative managers have come up with deals for the consumer that have meant continued trade and increased footfall.

BEST DEALS ARE THE BIGGEST WINNERS

So there's much to celebrate about the business we're in. Great people, great ideas and an impulse driven market we're lucky that UK consumers can't resist a bargain.

Of course margins have taken a hit and that's been felt across the industry. Consumers are canny and competition is strong so the best deals are the winners. We've all looked at how we can reduce costs and add value throughout the supply chain. This concentration on margins is a positive move and we'll emerge from the recession leaner and fitter.

On the manufacturing side, those who have succeeded this year are the innovators who have anticipated consumer demand and moved quickly to meet it. In many cases these are smaller manufacturers who have been able to accelerate product development and react faster to market demands. Consumer habits have changed and are likely to stay changed. Pubs have suffered, particularly with lunchtime trade but coffee shops, especially those which have diversified their food offering, are riding high. I admire the businesses which have been fleet of foot and adapted well.

FIT FOR THE FUTURE

More good news is the focus on credit control and the need to manage our cash better. This has produced business management models that are more robust and will be more resilient to change. That's a strong foundation for the future.

Underlying all this change has been the way in which staff have reacted. Seeing the UK economy spiral into free fall has kindled a sensible response. Staff have taken on board the situation, the need for change and the challenge to established habits and they have risen admirably to that challenge. This is something the UK should be proud of and we should all celebrate.

Source : Wholesale News

A Guide to Doing Business With Nigerians

2009-12-27T09:58:00.000-08:00

As a rule I would avoid doing business over the internet with all Nigerians, but I have found an interesting guide from a seemingly legitimate Nigerian businessman.

If your like me and would rather not take the risk of dealing with them, there is still a lot of general fraud information to get out of the article.

When dealing with people in any country, consider…

1. Is the country a known producer/exporter of the product, it’s pretty safe to assume Nigeria is not the iPod export capital of the world.

2. Research with official sources of information. Look on Government sites, banks etc, especially for discrepancies in their story.

3. Never send any money via Western Union. Ever! I would also add to not conduct transactions in eGold, for the same reason as chargebacks are difficult/impossible.

Article posted by a Nigerian resident and businessman him self
Source : Alibaba.com

I'm a Nigerian resident in Nigeria and a sound businessman who always allows sound business judgement to dictate my actions. From my experience on this website just a little over 2 months. I discovered that the major swindlers on this site are from asia and they are in swarms. Making bogus claims and promising a lifetime bargain and asking you to transfer money to them.

Most of the so called Nigerian scammers are usually school dropouts between ages 12- 24 of average intelligence who post just anything on the web at unbelievable price. From Household items, plasma tv, watches even cell phones. I marvell endlessly at how people fall for such trap because A simple check will have revealed that doing business with such people is not worth while.

1. Nigeria doesn't manufacture most of the items posted by Nigerians on alibaba - that is one clue, most of them are imported into nigeria from Taiwan, Dubai, China etc. The only Company that manufacture cell phones in Nigeria is ZTE and they don't manufacture enough to export. If you want to import electronic items, then look at sources from which Nigeria imports them from. We are majorly a consumer nation not an industrial one per say.

2.Any Nigerian promising to sell Nigerian Oil, LPFO, aviation fuel, AGO, PMS etc from this site is a scammer. Allocations for Oil are usually snapped up immediately at NNPC because the demand is more than the supply. You cannot see anyone peddling Nigerian Oil on websites because the President himself has brought sanity into the industry.

FInally there are more honest people in Nigeria than dishonest people, if anyone makes you an offer that is too good to be true - shut down your emotions and greed quotient (GQ) and allow your sense of reason to direct you.

Except where a strong trust bond has been built i.e. several transaction completed succesfully, never send a dime through WESTERN UNION, if you do well - you've just flushed your money down the drain.

Insist that you will do business directly through the bank - where the volume of transaction is huge - request an advance payment guarantee (APG) which makes the bank liable if anything goes wrong. when you are sent the (APG) get the address of the bank (independent of the sender) from the Nigerian Central bank http://wwww.cenbank.org open up correspondence with the bank independent of your nigerian customer and ask them to send you a confirmation letter that the APG was issued by them. This keeps you in safe hands if anything goes wrong as the Nigerian Bank would have secured a collateral of the amount they are guaranteeing from the customer.

If you have been scammed by a nigerian get in touch with the Economic and Financial Crimes Commission (EFCC) www.efccnigeria.org they will help you with the recovery of your money. In most countries of the world when you're scammed your money is gone forever - but in Nigeria we are doing something about it and millions of dollars are being recovered and sent back to their owner annually. A sample success story is here:

If you want to do business in solid minerals, contact the ministry directly www.msmd.org

If you want to invest verify from the Nigerian Investment Promotion Council www.nipc-nigeria.org

If you have any problem or any company you want verified, you can get in touch with me, I'll try and verify for you.

Nigeria is not as bad as people think, remember one bad apple doesn't spoil the whole bunch

TradeShows and everything about them and finding wholesale products to sell on Ebay.

2009-12-26T03:42:00.000-08:00

Wholesale tradeshows are my absolute favorite place to find merchandise to sell on Ebay. First of all I love to shop—and tradeshows are a shopper's Mecca. You can handle the merchandise, see and feel the quality, ask questions, and occasionally even get free samples. More important, these shows provide you the opportunity to develop a personal relationship with suppliers, which can be very important to you over time.

Wholesale tradeshows are where the manufacturers exhibit their newest products. This is your chance to find products before everyone else on eBay has them.

One of the challenges of sourcing products is determining what will sell before you commit to a large purchase. Many of the larger tradeshows have computer kiosks hooked up to the Internet. For others you may want to invest in a laptop with wireless capabilities. When you see a product that looks interesting, just log onto eBay and go the advanced search page. Type in the product and click on the box for completed auctions only. Now you can see if the product is selling on eBay and what sort of prices sellers have achieved recently. Most of the new PDA's allow you to check eBay prices right on the show floor.

“There are great tradeshows in almost every major trading city in the world”

Wholesale tradeshows happen in almost every major city in the world. For example in Seattle, we have two major shows and two smaller shows every year. The two large shows feature more than 800 exhibitors showing just about every product you can imagine.

The best tradeshows are in Las Vegas, Atlanta, New York and Chicago. There are great tradeshows in almost every major trading city in the world, but something about the Vegas and Chicago shows makes them the most exciting.

For general merchandise, one of the best tradeshows is The Chicago Gift Show at "The Mart" in Chicago. Don't let the word "gift" throw you. This show includes hundreds of categories of merchandise. Some examples are: Gourmet foods, luggage, jewellery, watches, collectibles, trendy items (e.g. RC Stunt Cars, BratPack, South Park, etc.), plush toys, specialty toys and executive gifts (e.g., Sharper Image catalog items), garden tools and accessories, household accessories, bed & bath, leather goods, country stuff, candles, handicrafts, fashion accessories, fountain pens, and the list goes on. There's literally something for everyone at these shows. The Chicago Gift Show is actually a collection of four shows that overlap.

How to find tradeshows

The ASD/AMD Merchandise Group organizes some of the largest tradeshows in the country.

Wand is an online global trade directory. Once you register on the site, you can search for wholesale suppliers and you can also find a tradeshow for virtually any product made.

If you live in or near any city in the U.S., you can call the local convention center or visitor's bureau on the phone and ask them to e-mail or fax you a calendar of events for the convention center. You will usually receive a response within the hour.

Here are 10 tips for attending tradeshows:

“If you're going to a show out of town, be sure to call the organizer and ask about travel and hotel discounts”

1. The real opportunity is to buy at tradeshows. The manufacturers are there to promote; the dealers are there to deal. To be successful, however, you must look and act like a buyer. You can not actually carry products out of the show. The dealers take orders on the spot (many have show specials that can turn out to be great deals) and the products are shipped to your business address.

2. Wear dress-casual or corporate-casual clothes. Almost no one goes to a tradeshow in a coat and tie, except the exhibitors.

3. Carry a bag or briefcase. By the end of the show you will be loaded down with samples, giveaways and product brochures. You need your hands free. So make sure to use a bag with a shoulder strap or use one of the popular roller bags..

4. Make up a special business card just for tradeshows. It should have a different e-mail address from your usual one (use a third party e-mail such as Hotmail or Yahoo) and a post office box or private mailbox address. You will be giving your business card out to tons of people and you don't want your main e-mail address trashed with spam.

5. Carry the following supplies:

200 to 400 business cards (depending on the size of the show)
A hand-held calculator
Your business checkbook
A professional looking folder and notepad
Your sales tax certificate
A few blank purchase orders (you can buy blank purchase order forms at any office supply store)

6. Plan to stay for the whole show. It's silly to go to a three-day tradeshow and only attend for a few hours.

7. Always arrive the night before and arrive at the tradeshow center the moment it opens. You will beat the crowds and you may get the first orders in for that hot product that is going to be in big demand. Also if you are attending a show in Las Vegas, it is much cooler in the morning.

8. Most tradeshows have related seminars. Attend these if you have time. You'll meet people, make contacts and usually learn valuable information about products and marketing.

9. Always register in advance. First of all, you get a discount on the admission (if there is an admission price). You also get offers of discounts on hotels, rental cars and airfares. The earlier you register the better.

Another advantage of advance registration is a professional pre-printed name tag and you don't have to stand in line to register when you arrive because your name tag and entry tickets are sent in the mail. If you're going to a show out of town, be sure to call the organizer and ask about travel and hotel discounts.

10. Remember to bring plenty of ID showing you represent a real business when you go to register at a tradeshow in person. (Bring business cards, commercial checkbook, purchase orders, tax ID, etc.)

Buying at tradeshows

“Just two or three years ago if you said you were selling on eBay or the Internet many of the dealers wouldn't talk to you, but that is changing fast”

Tradeshows are a great place to buy. Most companies offer special "tradeshow" pricing if you place orders during the show. Ideally you should go with a budget. You don't need cash, although you will need to be able to pay for goods before they are shipped if you don't have trade credit.

If you see something you want and don't have the money, just tell the seller you have already spent your budget, but you would like to place an order for later delivery (say three months) if he will still give you the special tradeshow price. (This works about 50 percent of the time).

Don't be afraid to tell the sellers you are just a small operator selling at auctions and on Web sites. You will be surprised how cordial and helpful these people are. After all, they are sales people and they want to sell. Just two or three years ago if you said you were selling on eBay or the Internet many of the dealers wouldn't talk to you, but that is changing fast.

You will encounter some dealers who will not sell to you unless you have a storefront. Other suppliers will not sell to eBay sellers. I know this is frustrating, but there are hundreds of exhibitors at these shows. Just forget it and keep looking, and you will find plenty of suppliers who will.

Smaller tradeshows

“Industry magazines routinely list or advertise information about upcoming tradeshows”

Not all tradeshows are giants like the Chicago Gift Show and the Consumer Electronics Show (CES) in Las Vegas. There are hundreds of tradeshows in smaller cities such as Austin, Charlotte, Cincinnati, Indianapolis, Pittsburgh and Portland—and many other smaller cities. You can find them by checking with each city's convention bureau. Some of them are so small (40 to 50 dealers) they are not held in convention centers, but in hotels.

Almost every industry has a tradeshow. You can find small tradeshows by reading the magazines of a given industry. Industry magazines routinely list or advertise information about upcoming tradeshows. You can subscribe to dozens of free industry trade magazines at www.tradepub.com.

Sourcing is a major concern for most eBay sellers. And for many, it requires an ongoing effort. The tradeshows I've described in this article bring together an impressive number of potential suppliers. I encourage you to investigate if you can find your next great sellers at a wholesale tradeshow near you.

Author : Skip McGrath

Buying, Selling and Trading Electronics in the secondary Markets

2009-10-17T02:54:00.000-07:00

Electronics are high-demand items in the secondary market. Think about it. Products like housewares and tools attract particular segments of buyers, but people of ALL ages use and want electronics items like TVs, iPods, and digital cameras. Because of the high demand and profit potential, resellers are always on the lookout for quality electronics.

While there’s money to be made from hot deals on electronics, buyers can get burned. The key is to buy close to the original source. Distressed inventory can go through multiple levels of resale before it reaches the consumer. Lots can move through multiple brokers, decreasing the quality of the original lot. At each stage, the source may cherry pick the load, pulling out the high-quality, pristine merchandise. If you’re at the end of this brokering/reselling chain, you could end up with a much larger percent of defective merchandise.

Even if items are not cherry picked during a multi-level resale cycle, you still lose. The further from the source you buy, the more you’ll pay since each reseller will be adding a mark-up. Buying at a higher price makes you less competitive in the market, and less profitable.

Another way to reduce your risk when buying electronics is to deal with large, reputable companies. There are many hard-working, honest entrepreneurs operating out of home offices. Unfortunately, there are others whose interests don’t go beyond flipping the next load. You want a source of supply that will provide good product at a good price, and who also will be responsive if and when problems arise. Larger, established companies want your business for the long term. They have an interest in addressing your concerns and making things right so you keep coming back.

There’s money to be made from buying and selling electronics in the secondary market. Taking a few basic precautions will increase your chances of success.

TheBiggestClearance.com Wholesale and Overstock Marketplace has a NEW SHELL

2009-10-14T04:54:00.000-07:00

Are you a BUYER or SELLER at TheBiggestClearance.com yet ?

Then we are proud to introduce you a brand new design.

The new interface of the Marketplace is now a lot more smarter, attractive and easy to use.
New, user friendly design makes it much easier to navigate between the tasks and pages of the website. We are also slowly making the functionality of TheBiggestClearance.com
much better and easier.

And one of the major changes is also a domain. You will now be able to reach the website on www.thebiggestclearance.com since the Marketplace expanded globally.
And if you use the old www.thebiggestclearance.eu domain, not to worry at all, you will be automatically redirected to the correct destination.

Are you not a user of TheBiggestClearance.com Marketplace ? What is it ?

www.TheBiggestClearance.com is a online B2B Marketplace and source for Buying, Selling & Trading of Wholesale, Surplus Overstock, Liquidation Stock, Excess, Bankrupted and Clearance Stock.

Any Stock in bulk, pallets or wholesale can be easily sold here. TheBiggestClearance.com is a large network of buyers, sellers and traders operating in this huge area of business.

Many potential buyers can see your stock lots and surplus for sale every single day and you could reach much higher profits and amount of sales by offering your stock through TheBiggestClearance.com Marketplace.