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.
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.
method discourages new partnerships. Buyers have fear to send
money in advance and sellers hurry to sell the products to
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.
solved this problem by offering two special services: the
assurance (GAS) and the special escrow (GAFS).
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.
agrees to pay this amount in 48 business hours to another
member if they were cheated by the assured member.
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.
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