30/09/2021 09:17 GMT+7 Email Print Like 0

Trade office issues warning over fraud in transactions with Benin businesses

The Vietnam Trade Office in Morocco, also in charge of Benin, has warned Vietnamese exporters in general and those engaged in beverage export in particular, to seek full information about importers before conducting transactions with partners from Benin to avoid being a victim of fraud.

It cited the case related to Hi-Profile International General Trading Company, which is headquartered in Dubai, as an example. Hassabel E.Musa-Chairman, known as Khalifa, the company’s director, showed signs of disrepute in import transactions, evading payment responsibility under the signed contract.

According to the trade office, a Vietnamese company had sold two containers of Buffalo Jungle energy drink to the company. The shipment arrived at the port for many days, but Khalifa neither received the goods nor paid the money.

As soon as the Vietnamese enterprise changed the original bill of lading, he colluded with Benin partners to make the customs declaration but did not make the payment.

Upon receiving a request for support from the Vietnamese company, the office has contacted the Benin authorities, including the Ministry of Industry and Trade, the Chamber of Commerce and Industry, and coordinated with the Vietnam Trade Office in Dubai, especially the Port Authority and Customs Agency of the Cotonou Port in Benin in handling the incident.

A reputable partner at the Cotonou Port has been introduced to the Vietnamese company to provide assistance on procedures for selling the goods to other customers. However, local regulations that require the opinion of the importer before carrying out procedures to return goods to Vietnam or sell to a third party made it difficult to settle the case.

The office also managed to persuade the Benin company to cooperate but failed.

To reduce risks when exporting goods to Benin and some North and West African areas, Vietnamese enterprises should be cautious in conducting transactions such as delivery at the port (CIF), payment method, delivery contract and signing contracts through intermediaries, it said./.
VNA/VNP