TaxTMI 
TaxTMI 
TaxTMI 
What are the remedies available to an Indian exporter if a consignee failed to pay in his obligation
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....hat are the remedies available to an Indian exporter if a consignee failed to pay in his obligation<br> Query (Issue) Started By: - SHOEB VAPIWALA Dated:- 9-10-2014 Last Reply Date:- 10-10-2014 Other Topics<br>Got 3 Replies<br>Indian Laws<br>Dear Sir One of our client had been regularly exporting their auto and machinery parts as per agreement direct to an European country. They have been very go....
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....od business relationship until the management of Indian exporter. As the management has been changed the consignee has raised technical defaults of the items and default to pay their obligation. The Indian exporter had personally met their and granted some credit to the consignee and settled the payment terms cordially. On coming back to India the consignee disagree to pay their obligation and ju....
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....st mailed to us to close all communication related to payment overdue. Main questions are 1. What are the remedies available to Indian exporter to collect their dues from the consignee? 2. Is their any European country related trade settlement forum / arbitrator ? 3. Is their any Forum of Indian - European country trade association like FICCI / CII or local chamber of commerce may help to the ....
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....Indian Exporter to settle these issue? 4. If their is a sizable amount over due (say about EURO 1,00,000 and above), where we file suite against the defaulter consignee? Who are right authority to approach to settle the matter? You Answer with communication address will be appreciated. Thanks with regards VAPIWALA S G Reply By Naveed S: The Reply: a. You can request the same buyer to accept ....
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....the goods at discounted rate if any default at your side as a supplier of goods. Here, you as seller/exporter believes buyer's voice stand on the reasons behind rejection of goods. b. Work out costing of freight and other expenses to take it back to your factory, if worth you can call back the cargo back to your factory. There are various national and international forums for raising the issue, ....
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....however it would be advisable to first seek legal advice in the matter. Reply By SHOEB VAPIWALA: The Reply: Dear Sir Thanks for quick response. We request you to elaborate the legal matter on each question as requested in the previous letter . Best regards. VAPIWALA S G Reply By Pradeep Khatri: The Reply: Dear Vapiwala, We have gone through your query and do understand that due to some qua....
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....lity issue, as well as due to poor Customer/Client relationship management skills such distortion had emerged and foreign remittance had got stuck for some and other reason. Further, in your query, there is no mention of settling out of disputes between the parties i.e. whether through appointment of arbitrator or by applying ADR methods and or through civil litigation. Whether documents were sen....
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....t through proper banking channels or not? Whether LC was opened by your counterpart or not? Since when this payment has been pending/outstanding? Please also do share with us that what was terms and condition mentioned in the agreement/contract/MOUs? After the receipt of this piece of information, we will finalize our opinion and tell the appropriate action to be required to initiate. Thanks an....
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....d regards, YAGAY and SUN (Management, Business and Indirect Tax Consultants)<br> Discussion Forum - Knowledge Sharing ....