The biggest problem in the cell phone trade is the fraud. The cell phone trade is a specific one because cell phone prices can go up or down in days.

That's why the Bank Letter of Credit payment system is avoided and sellers prefer to work only with payments in advance or using the "fly-and-buy" method.

This method discourages new partnerships. Buyers have fear to send money in advance and sellers hurry to sell the products to known partners.

Because of this buyers never reach to the special offers and for the sellers this is a very big handicap because they can't conclude a real auction and to sell at the best possible price.

GsmGroup solved this problem by offering two special services: the assurance (GAS) and the special escrow (GAFS).

A member may take an assurance for an unlimited money amount by transferring to GsmGroup's Citibank account a money amount with which he agrees to guarantee for transactions.

GsmGroup agrees to pay this amount in 48 business hours to another member if they were cheated by the assured member.

Sample how assurance works:

The member x assures for US$ 10,000. Member x offers products for sale and asks founds in advance. Member y wants to buy the products and decides to transfer an amount in advance to member x. If member x got the advance but doesn't send the products, GsmGroup automatically pays to member y the advance amount, up to US$ 10,000.

Note: For big transactions GsmGroup.net recommends the GAFS escrow service. It works quicker and it's cheaper than the Bank Credit Letter, offering the same security and features (such as performance bond).