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Ref: PXL/H.O./CIR-108/2015-16 Date: 05.01.2016
Hyderabad
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Information on International Payment Defaulting Companies
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Dear Sir/Madam,
We wish to inform that some of our members keep approaching us for assistance from Council for resolving trade disputes with their overseas customers. Similarly, some of the overseas importers approach us complaining about Indian companies with regard to quality of products, delays in dispatches, refunds etc. So far Council is attending to all quality related issues, as they affect the image of the country as a whole. However, Council is not attending trade/payment related issues as DGFT has been designated as the concerned agency to take care of such issues. Of late, many members are expressing that there is a need to alert Indian exporters about serious and willful overseas defaulters.
Keeping above in view and as suggested by the Committee of Administration, we request all the members to share with us any information about payment defaulting overseas companies, briefly indicating the following information:
a) Name and address of the company, with contact details of the concerned person
b) Nature of dispute
c) Amount involved
d) Whether you are willing to disclose your name while writing to the party
e) Any other information
Members may please note that after receiving above information, we may write to the overseas customers asking them to resolve the issue within a fixed time, failing which their company will be treated as willful defaulter and shall be circulated among Indian exporters. If no satisfactory information is received within stipulated time, their name may be kept under defaulters list in our website, open to our members only, after due consultation with our legal advisor and approval by Committee of Administration.
While providing such defaulters list may help the industry at a large, there may be several implications involved. We, therefore, request the members to provide the above information, considering all pros and cons.
Members are also advised to provide above information relating to overseas customers only and not about Indian companies.
With regards,
Dr. P V Appaji
Director General |
