Axis Capital Group, a company which sells and rents heavy equipment has been delivering, exporting and importing capital machineries since 1999. The company has now expanded to Jakarta, Indonesia and has gained avid support from our clients and partners. But what is now an established company has also been once a victim of scams. The details are a little absurd now but if we, as a company have had those kinds of challenges, how much more do individuals who manually transact their businesses? Thankfully, we already have quality control and security team employed with us, how about those who are at risk of the complicated details in exporting heavy equipment?Payment scams are also prevalent nowadays. When it comes to exportation and payment transactions, there are many methods currently available. Here are some of the following:1. Cash-In AdvanceCash in advance is only an option for those who have sufficient funds with them. This way, as payments are easily received, the transfer of ownership can be completed immediately. The risk in doing this kind of payment is when you cannot ensure that your equipment would not be delivered after payments are made. The overall liquidity of the funds can also be affected. Wire transfer, credit card or check payments are the mediums for payment.2. Letter of CreditInstead, you may opt to utilize a letter of credit when exporting heavy equipment. This type of financial transaction is a commitment by a financial institution on behalf of a buyer. It stipulates that payment to an exporter will be finalized as long as certain rules and regulations are carried out. A buyer will give the bank a fee in exchange for arrangement of this type of service. A letter of credit will offer a little more protection to a buyer, as the buyer won’t need to make a cash outlay until heavy equipment is safely delivered, according to the stipulations of a legally-binding contract.Scams and fraudsters enter the picture when the transaction is being organized by a crime cartel overseas. The members can pose as bankers or government officials and usually lure unsuspecting victims, telling them they are needed to process deposits of overpayments on procurement contracts. In order to stay safe, you need to learn to recognize scams based on a host of criteria. For example, if you’re asked to send cash, bank notes, financial information or personal details, be aware that you’re likely being taken for a ride. In addition, if correspondence outlines the need for secrecy during a deal, you should back out immediately. Representatives of reputable companies never demand these sorts of shady conditions and terms from their customers.