A due-diligence checklist before entering a business opportunity

Verify the other party’s full name, legal capacity, contact details and physical address. Request appropriate registration or authorization documents and check them through available channels.

Put the scope, price, currency, delivery dates, responsibilities and cancellation terms in a clear agreement. Do not send money to an account that does not match the contracting party without an explanation and supporting documents.

Test the transaction on a smaller scale where possible and retain messages, receipts and contracts. Pressure for immediate payment or refusal to provide basic information should be treated as a warning sign.

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