DAS Tech Inc
DAS Tech Inc
1510, DAEJONG BUILDING, 143-48, SAM SEONG-DONG, GANG NAM- GU, SEOUL, KOREA, SEOUL, South Korea
Initial contact with the supplier:
Type of product(s) being purchased:
Stainless steel scrap
Value of the Purchase Order when the incident occurred:
25,001 to 100,000 USD
Destination market of order in question:
Type of Complaint(s):
scams & other unethical activities
Stage of relationship with the supplier at the time of the incident:
I gave 1st purchase order to supplier for 20mt Stainless steel scrap ( shredded) on 100% advance payment basis for trial lot. Since supplier was very well known to me and he has already visited couple of time to my office in India and was genuine.
While placing 1st order, he failed to supply shredded scrap from actual scrap dealer in Korea. So he told that another dealer / scrap yard owner is having shredded scrap, so we have sent signed a new purchase order of 20mt scrap again on 100% advance basis. He told me that 1st order will be pending till scrap yard owner arrange shredded scrap.
While he executed 2nd order with partial shipment ( around 12.5mt out of 20mt) due to loadability problem. This took around 04month to reach material at destination port.
Meantime supplier was telling that he will refund unutilised amount to us after partial shipment dispatched.
We send him debit note for both partial & full lot , which was not executed. After 10-15 days supplier was giving excuse of his fund block in other business and agree to send amount by 1st week of Aug’2015 positively.
Now after so many phone call and e-mails, supplier neither reply of phone calls nor of emails.
How well you know overseas supplier, do not trust on him. He can ditch you at any time and break your long lasting trust.
Always work on L/C terms