Fonder Overview

5. What is payment protection and FonderPay?

Payment security is a major issue in import/export business.

The traditional "Letter of Credit" is not safe as well, If you are familar with "Letter of Credit" payment, you might know the situation that the bank checks and recognizes the documents only, and it's in fact unlikely for the banks to check the merchandise for you. The buyer is always exposed to a disadvantageous situation when a disputes is arose sometimes due to the goods delivered not as promised.

All payments now made on Fonder are safe and protected:

• Your payment will not be released to supplier and always held with FonderPay before you confirm satisfactory delivery of your order.
• And you can request a refund if our procurement unit or partner supplier didn't deliver your merchandise on time or as described.

Note: FonderPay is an indepandant department which is in charge of Fonder's payment protection with a mission to buildup a reputation of secure and efficient payment environment for Fonder websites.