The American company subsequently places an order for $750,000.00 worth of two of the three chemicals from the two Hebei companies. To protect itself (but not correctly), the American company uses an Irrevocable Letter of Credit, documents at sight. What this means is that the Chinese bank must pay the Hebei companies as soon as they are presented with documents showing the product has been put on a ship for shipment to the United States. Or to put it even more simply, the Chinese companies get their money as soon as the material is on the boat.
And of course, this is what they do. The Hebei companies secure bank payment as soon as their materials are loaded.
Five weeks later, the American company receives its product, but upon opening it, realizes it has been sent 100 drums of water and 50 tons of some unidentifiable white powder.
The Hebei company that sent the white powder no longer responds to emails, faxes, or phone calls. A quick googling of their name reveals that it is a frequent topic on anti-scammer message boards. The Hebei company that sent the water responds, but only in the most evasive, time-buying manner. After a few days, communication are lost with them as well.
See another story
Dear Sir
We purchased 5 tons of Chromium Oxide Green of USD 14150 from Tianjin Tengte Import & Export Trade Co Ltd through 100% L/C at sight dated 01/02/2014. They intentionally provided wrong material and less quantity. Now they are not replying my messages. I have all legal documents against them but since its a chinese company who will listen to our company ? Please give me a solution what should I do and take very strict against this company. I don’t think in future our company will purchase any material from china.
Seller Address:
Tianjin Tengte Import & Export Trade Co. Ltd.
1-1-1705 Dibei Li, Nankai District, Tianjin, China
Operational Office:
Operational Address: Binhai Xinqu Tanggu, Tianjin, China
Contact Person: Mary Wang
Mob: 18222750863
Tel: 0086-022-60980660
Fax: 0086-022-60980680
Contact Person: Clara, Cindy
Email: clara_tengte@aliyun.com, info@chinatengte.com
Website: http://www.tengtemetal.com/En/index.asp
http://www.chinatengte.com/
The third story as following
We have dealt with a Chinese company in order to buying polypropylene granules (a kind of raw material) from china.
As you see in the attachments our deal was about 60 MT of the goods with the whole price of 60,600 USD.
We had opened our LC via our bank to them and the LC was LC at sight payable against the original full set of documents as bill of lading , certificate of inspection issued by CIQ organization and certificate of origin issued and certified by legal organizations in china.
The seller prepare all document and sent to his bank, then his bank sent the documents to our bank and ask for the price.
We checked the documents and see all of them are original without any discrepancies.
So our bank send the money to the seller.
When the goods arrived to our port we saw the amount and packing and every thing is not as our contract.
And the Chinese agent of the shipping company changed his BL and told us the original BL that was sent to your bank is fake !!!!!!!!! but the sale and signature of the shipping company is on our original BL.
Now we want to lawsuit against the seller immediately, please advise us the best way to claim.
He was scammed. L/C fraud.
Chinabizcheckup perform inspection throughout China for worldwide importers. Provide us with your specifications online, and our qualified inspectors and Auditors will perform production inspections and audits on your behalf, directly in the factory.
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