r/u_lakshay_9930

Hey everyone,

I’m exploring a potential deal to import copper (scrap/cathode) from Tanzania at around LME -18%, which sounds attractive, but I don’t have prior experience in importing.

Here’s my situation:

•	I know a person who has an import/export license and claims to have contacts with a supplier in Tanzania

•	He is willing to help facilitate the deal using his license and documentation

•	The idea is to import the material under my firm’s name, but using his support/license

•	Payment would likely be done via LC (Letter of Credit)

I have a few concerns and would really appreciate guidance from experienced importers/traders:

1.	Is it legally possible to import goods using someone else’s license but under my firm’s name?

2.	What are the major risks in such deals (fraud, quality mismatch, payment issues, etc.)?

3.	How can I structure a “safe” LC to protect myself? (inspection clauses, documents, etc.)

4.	Should I involve a lawyer or trade consultant before proceeding?

5.	Any red flags specifically with deals offering LME -15% to -20%?

I’m completely new to this, so even basic advice or things to watch out for would help a lot.

Thanks in advance 🙏