We’ve all heard horror stories about ‘scammers’ posing as factories who take your money and disappear! This very real risk is heavy on a buyer’s mind when they’re considering a potential supplier, which is why Sofeast offers a supplier background check to vet potential suppliers for you.
Our focus is on assuring that your supplier is legitimate (no scams), has their story straight, is offering competitive pricing, and is, more generally, a good match for your business.
If you are afraid of being scammed or working with a middleman posing as a manufacturer, Sofeast’s supplier background check will flag suspicious signs and advise on how to dig deeper.
What is a supplier background check or ‘due diligence?’
Sofeast’s supply chain specialist performs a thorough investigation to uncover the truth about a potential supplier, covertly interviewing them, fact-checking, and confirming that they’re a legitimate manufacturer who is capable of producing your order. It takes 5 working days to compile the report.
Why choose to perform background checks?
Any importers who are afraid that their potential suppliers may misrepresent information about their company (including scammers, but also simply ‘creative sales people’) need to conduct supplier due diligence before agreeing to work with a new supplier.
What type of factory should this type of due diligence be performed on?
All potential suppliers’ factories of any size, prior to deciding to spend much time on onboarding them and on developing products with them.
When to perform these background checks?
Usually, the best time to carry out any due diligence is after sending out Request for Quotation (RFQ) information, but before any samples are requested and orders are placed.
Can Sofeast perform background checks on companies around Asia?
Yes, although most customers request this for Chinese suppliers.
We can also check companies in Vietnam, India, and South-East Asian countries such as Thailand, Cambodia, and Bangladesh, too.
If you’re unsure whether we can check your chosen supplier, ask us!
If sharing confidential information with a new supplier, performing due diligence and even factory audits are highly recommended before discussing product details and requesting quotations.
What is in a supplier background check report?
- Legal documents check.
- Confirmation that they are a manufacturer, not a trading company.
- On-line reputation (in Chinese and English) check.
- Check on consistency of information they show in different places.
- Purchase order and logistics review.
- Report on the supplier’s: Attitude, transparency, and industry and technological knowledge.
- Certifications check (e.g. confirm they hold ISO 9001:2015).
- Review of their capability according to your project requirements.
This is reported back to you in a detailed PDF document which gives you advance warning about any issues which may affect your decision to work with them and we also follow it up with a 30 minute phone call where explain the findings and its implications for you.
How much do background checks cost on a potential supplier?
We provide your comprehensive supplier background check at just 199 USD.
The report is available in just 5 working days.
What happens if the potential supplier we’ve investigated turns out to be unsuitable?
If the potential supplier you’re vetting turns out to be unsuitable, and if you are struggling to find an alternative, we can work on listing and screening alternative candidates for you.
For this purpose, use our new factory identification solution in which we locate and provide the best possible export-ready supplier for your needs.