Case introduction
Creditor: Shanghai International Logistics Co., Ltd.
Debtor: Russian company
Debtor: Russian company
Debtor amount: US$120,677.00
Debtor duration: 2 years
In 2019, the Russian company purchased 156 20-foot containers from the Shanghai company, and verbally agreed that the price of a single box was US$1,300.00, with a total of US$202,800.00. The Russian company reported that 10 of the boxes had defects and required each to be deducted from US$70. Later, it was informed that the local box price had fallen sharply and asked the Shanghai company to give a discount. In order to recover the payment as soon as possible, the Shanghai company chose to compromise; the total payment receivable was US$166,300.
Shanghai company negotiated with it many times to collect money. At first, the Russian company had a good attitude and successively paid some of the debt, totaling US$456,23.00. However, since December 2020, the other party's attitude towards the debt has changed significantly, and he often uses excuses such as "the epidemic affects business" or "find a way to repay". Although Russian companies in the middle claimed that they would sell cars to repay part of the debt, they have not taken any actual actions.
In November 2021, the Shanghai company completely lost its patience and entrusted it to our company to handle it.
collection process
credit investigation, poor financial situation
1. After the creditor entrustment case, our company immediately retrieved the debt corporate credit report . The results show that the current assets of the debtor company fell significantly from 2019 to 2020, and the company's operating capital has been negative since 2018.
In view of this, the collection lawyer decided to start the collection operation as soon as possible to avoid long nights of dreams.
has a bad attitude and intends to avoid responsibility
2. The collection lawyer immediately sent a collection letter to the debt company and contacted the debtor CEO Mr.N. After the other party learned about our purpose, he directly stated that he refused to repay the debt, and said that the debt information submitted by us was not enough to prove the debt.
3. After communicating with the creditor, the collection lawyer completed the creditor's information, including the transaction's shipment and receipt records, invoices, customs clearance documents, chat records, etc.; and after sorting out the evidence, he sent a collection letter again via email, and contacted Mr.N many times, but no answer was received. It is obvious that the debtor clearly wants to maliciously default on the arrears and evade responsibility.
In view of this, the collection lawyer decided to conduct an in-depth investigation into it and find other ways to put pressure on it.
in-depth investigation, and found the actual controller
4. The collection lawyer conducted an in-depth investigation of the debt company and found that the actual controller of the company was a person named Mr.V, and Mr.N was only the manager of the debt company and had no actual equity. At the same time, although the debt company has not had good cash flow in in recent years, its assets can completely cover the accounts owed. The collection lawyer decided to try to negotiate with the actual controller and ask him to assist in the matter.
multiple pressures have begun to show results
5. Before this, the collection lawyer sent Mr.N a letter of receipt again, attached the relevant information about the other party's company investigated, and at the same time strictly informed him: within 7 days, a specific repayment plan will be given; otherwise, he will contact the actual controller to negotiate the matter, and will also send emails related to the case to each department of the company to consider the impact of the matter if the actual controller and the company's employees know about it, it will have an impact on his career, personal reputation and employee psychology.
6. On the third day after the letter was sent, the debtor Mr.N took the initiative to contact the collection lawyer, and the other party claimed that the company's cash flow was tight due to the impact of the epidemic; he hoped to give him some time to raise money. The debt collection lawyer put strong pressure on the company and informed him to clearly understand the company's financial situation and total assets, and asked him to provide a specific repayment plan as soon as possible.
is well advanced and retreated, and successfully recovered
7. At this point, Mr.N has no excuse to delay and proposed a plan to hope to pay for a 30% discount and 5 periods.The debtor's idea was immediately fed back to the creditor's account and informed him of the current case situation to avoid long nights and dreams. He suggested that he promised to give him a certain discount, but he would try his best to put pressure on him to pay in one lump sum.
8. The collection lawyer once again puts severe pressure on the debtor, informing him that the minimum amount that can only accept repayments is US$100,000, and requires him to pay in one lump sum, otherwise the next collection operation will be implemented immediately. Fearing from the pressure of the collection lawyer, the debtor finally agreed to the plan and signed a repayment agreement.
9. At the end of January 2022, the creditor received an equal amount of RMB 100,000 from the debtor, and the case was successfully concluded.
Case summary
1. Carefully choose the transaction method of shipping first and paying later
In this case, after the creditor ships the goods to Russia, the other party not only does not pay, but also constantly asks the creditor to reduce the amount of the goods on the grounds of defects in the goods and falling market prices. The creditor in a passive situation can only agree to these requests one by one. Because of this, the debtor will delay time and maliciously default on the payment of goods.
here reminds all foreign traders:
No matter what kind of buyer you cooperate with, you should carefully choose the payment method, choose the method of payment first and then goods or charge a high proportion of deposit in advance, which is the most insurable. At the same time, we should also stick to the bottom line, so that buyers know our rigorous attitude towards transactions, and avoid making buyers have bad thoughts because of their "easy to talk".
2. Make good use of credit investigations and assist in transaction decision-making
. By retrieving the corporate credit report of the debtor, it can be found that the company's financial situation in recent years has not been optimistic. If the creditor knows the other party’s credit status in advance, it can assist in decision-making and use the lowest risk transaction method, which can greatly reduce the risk of default.
3. Do a good job in document management to ensure that the creditor's rights information is complete
strictly follow the transaction regulations and procedures, and beware of losing the creditor's rights due to conscientiousness!
In overseas transactions, valid debt information includes:
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