Exporting cashews: A lesson to beware of to avoid being scammed in business

The case of losing control over 36/100 containers of cashew nuts worth more than 20 million USD exported to Italy due to the loss of all documents and original documents related to the payment is making Vietnamese businesses stand still. before the risk of losing the number of exports.

According to the Logistics Business Association (VLA), after a long time being affected by the COVID-19 pandemic, all trades of import-export businesses have stalled, even lost customers, so when they have new export orders, large quantities and from reputable markets… it is easy for businesses to be subjective, lose their vigilance and rush to receive them. Legal risks from the incident of 100 containers cashew export, damage up to tens of millions of dollars can be considered as an example. Thereby, drawing vigilance lessons for import-export businesses to avoid the risk of being scammed in business.

According to Mr. Ngo Khac Le, representative of the Vietnam International Arbitration Center (VIAC) and Deputy General Secretary of the Vietnam Logistics Business Association (VLA), fraudulent intentions from crooks can be formed before or transactions based on specific situations.

Mr. Ngo Khac Le also recommended businesses a number of measures to minimize fraud in business. Accordingly, first of all, it is necessary to be more cautious with new partner businesses making transactions for the first time. Traders must be thoroughly investigated and investigated for the highest safety. You can quickly check through your partners and industry associations. You should proactively send your business registration (soft copy, in color) first to your partner to have a basis for asking them to send a business registration and consider this a normal thing when doing transactions so that you can know the information. of the enterprise.

In addition, it is possible to learn about partners through the help of Vietnamese embassies and trade offices in the host country. The selection of partners is almost the decisive stage of exporting enterprises. Because a reputable partner, a long-time business brand, even if the price increases or decreases, they still buy their products.

At the same time, be wary of seeing cheap prices with favorable payment conditions. Because this is very rare with a first-time transaction with no hidden intentions. In addition, businesses should phone to know the specific person’s name, landline number, mobile number; use the company’s email address; At the same time, it can be combined with a public email address to make it easier to identify people and companies later because they have to register for a separate phone and email service in the host country. Should include in the contract the contact name, fax number, email address of the company when making official transactions.

Import-export businesses should also hire consultants to draft contracts. Many businesses are afraid to hire because they are not familiar with it, or are afraid of the cost, but in fact, compared with the loss, it is not worth much and must be considered as an “investment in knowledge” to avoid risks, not a “expense”. fees” of the enterprise. More broadly, a one-time investment can be used for a long time, so the annual expenditure and sales are not significant.

In addition, businesses need to organize for employees to attend professional classes, events, seminars… to improve knowledge and experience. Tuition is not much but works very well to reduce long-term risks.

It is equally important to try to control “greed” in business. Because that is the goal that the bad partner aims at from the beginning such as giving a good price, inviting free travel…; as well as in the process of doing business with each other for a long time then may increase the number of goods to have a higher contract value, to some extent, using pre-existing loopholes, or newly arising and because “” trust each other” to cheat, cheat.

Finally, after determining that it has been scammed, businesses should notify customers and associations that they join for general prevention; at the same time, send information to the association of which the scammer is a member to denounce; reserves the right to claim compensation with existing documents and evidences.

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