INDUSTRIES

Payment for 4 out of 5 containers recovered in alleged scam of export to UAE

The VCA urged firms to exercise greater caution in negotiations, partner verification, payment terms and contracts to prevent the recurrence of similar cases in the future.

 

310616 hp | FDI Việt Nam
A view of Hải Phòng Port. VNA photo

 HCM CITY – The Vietnam Pepper Association (VPA) announced on October 13 that payment for four out of five containers of farm produce in the alleged export scam to the United Arab Emirates (UAE), has been retrieved and the remaining work is underway.

The farm produce includes black pepper, cashew nuts, cinnamon and star anise.

On July 15, after receiving reports from several firms that they suspected they had fallen victim to an export scam involving five containers destined for the UAE, the VPA, in collaboration with the Vietnam Cashew Association (VCA) and various enterprises, banks, fast delivery and shipping companies, compiled information and reported the incident to Government agencies, ministries, and departments, the Vietnamese Embassy and Trade Office in the UAE, the UAE Embassy in Hà Nội, and press agencies.

From October 10-12, Ajman Bank in the UAE refunded over US$354,900 for the four containers. As for the container of star anise, which has been stored at Jebel Ali Port in Dubai since July 26, the businesses are still working with the Ajman Bank to request payment for all incurred expenses, including warehouse and legal fees, and the cost of returning the goods to Hải Phòng Port. The estimated expense related to this shipment as of October 11 amounted to nearly $70,000, and the total value of the shipment is $114,639.

Through this incident, the VCA urged firms to exercise even greater caution in negotiations, partner verification, payment terms and contracts to prevent the recurrence of similar cases in the future. VNA/

Theo Vietnamnews