Shanxi Tai Rui Haisheng Import & Export Trade Co., Ltd.
Shanxi Tai Rui Haisheng Import & Export Trade Co., Limited
2-1602, No.1 Beijing Building, No.130 Changzhi Road, Taiyuan City, Xiaodian District, China
Initial contact with the supplier:
Direct Buy Website
Type of product(s) being purchased:
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:
Contacted seller on behalf of my buyer who was ready to sign 1 year contract for copper cathodes 300MT x 12 with 20.2MT trial shipment.
Buyer requested for supplier who uses SGS inspection. Seller provided SGS to prove they have track record with SGS.
After the contract was signed, buyer opened confirm irrevocable non transferable LC 100% at sight.
Seller started the shipping procedure and sent all SGS inspection documents and BL. Based on LC terms, provided shipping documents have been provided by seller, bank will release the payment into sellers account.
Seller provided us with vessel number and we tracked every movement of the vessel until destination port.
On arrival 8th January 2017, it was an empty container. No copper cathodes. Only empty container from China.
My suspicion was raised last week when I was contacting them but all their phones have been powered off but I though I can’t be so sure until the vessel arrives in Europe on 8th January 2017.
An empty vessel has arrived. They have been paid by my seller and they’ve absconded with the money over USD $70,000.
Sad day for everyone involved. It’s unbelievable how they can cheat using SGS. I believe this is an inside job of the highest order. They must have collaborated with SGS and the shipping company MAERSK to swap the container before shipment from China port.
I will advise other buyers not to pay Chinese suppliers until they see the goods they are buying at destination port. Regardless of the banking instrument a buyer is using to protect themselves, China always have a way around it. To cheat and scam genuine buyers. This is my advice to anyone who thinks LC is a safe way of doing business with China.