Have you tried having a negotiation with Neiman Group located in Brazil? If you are buying Copper Ore, Copper Concentrate, Base Metals from them be aware of fraud. If you happened to visit their website and planning to deal with them, you may conduct research first about this company. You may read thoroughly below to witness buyer’s reviews and complaints.
Neiman Group
Buyer’s Nationality:
United Kingdom
Seller:
Neiman Group | Neiman Corporativa Espbrasil Mineracao ltda | Neiman Mineracao Brasil Ltda | Neiman Corporativa S.A.
Seller Website:
http://www.neimanbrasil.com.br/en/
Seller Address:
Rua Antonio Madruga 1930, CEP. 59.082-120, Natal, Capim Macio, CEP.59.082-120, Brazil
Initial contact with the supplier:
Search Engine
Type of product(s) being purchased:
Copper Ore, Copper Concentrate, Base Metals, Minerals
Value of the Purchase Order when the incident occurred:
Greater than 1 Million USD
Destination market of order in question:
China
Type of Complaint(s):
missed lead times, lack of labor, contract violations, scams & other unethical activities
Stage of relationship with the supplier at the time of the incident:
Initial Order
User Experience:
I contacted Neiman Group and they provide lots of detailed assay reports, past performance, pictures, pdf’s etc of their material and it seemed very legitimate, we signed and sealed our contracts, their prices were not crazy attractive but workable, so after signing the contracts and the issuance of the LC starts, firstly our contract with them was to issue our LC BANCO DA AMAZONIA, and then they said we needed to amend our contract since that account in that bank was with a shipper/logistics company which would help them export, ( we have done similar before and never had any problems with other suppliers) last min while the bank was processing the LC, they asked us to stop because their bank would not receive our LC, so we stopped the issuing process. then they changed to a second bank which was much more well known, Banco Do Brasil, confirmed that this bank would have zero issues with receiving and then we proceeded to issue the LC. we gave them 30 days production time to produce our goods and ship within that time. second part of the problems happen, after two weeks in, we find out that they need the bank to finance/ loan against my LC. so then this whole story starts about the bank not being able to finance as CIF only FOB/EXW, then they came up with the option of cancelling the LC, and issuing the LC to a “finance company”who can loan them the money against my LC.
Bearing in mind, 1 month of issuing this LC, cost me 30,000 USD in finance fees to my investor, in the end we decided to stop our loss and stop playing this game with the supplier, they did not inform us anytime before contract and LC issuance that they needed to get a loan from the bank to actually finance the production, and they were never able to solve it in a timely manor. so we lost 30,000 USD and 1 month of wasted time in the LC and another 1 month for contract negotiation, the weirdest part of it all, is i told them let me amend my LC to FOB and ill arrange my own vessel but they wouldn’t allow it due to the reason “everything is prepared as CIF” so yes, do not trust this company, do not risk your credit lines, do not buy from this company, the “trader”Mariano is super unprofessional and inexperienced, and the “CEO” Mr. Angel Blanco never said a single word throughout the months of emails back and forth. my LC was issued for a value of: 1,839,600 USD and additionally had to deposit the +/- 10% value in my bank for a total of 2,023,560 USD. and plus my monthly finance cost of 1.5% which my investor charges me grand total = 2,053,912.40 USD finance costs being 30,808 USD.
Do not buy or trade or do any business with Neiman Group and all their affiliated companies. The moment you interact with them, they seem extremely professional, but the moment you issue your LC, its a 360 degree change, do not risk it no matter what.
User Recommendations:
Not ever going to buy as CIF ever again, and never going to accept any supplier time to produce any goods, will only issue the standard LC with UCP 500 must ship in 21 days period, I wont ever allow myself to fall for the trap that “its just 30 days to produce its not that bad” mentality. Lesson learned.
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