Fraud alert: Indian exporters advised to be cautious while dealing with UAE-based companies
The Ministry of External Affairs, Government of India, has issued an urgent advisory to Indian exporters and businesses engaged in transactions with companies based in the United Arab Emirates (UAE). The advisory has been issued in response to multiple reports of fraudulent activities, delayed payments and unethical business practices by some UAE-based companies, particularly in the food and general trading sectors.
The following list of companies has been flagged based on complaints received from Indian exporters and international trading partners. These companies are alleged to be involved in fraudulent activities, including non-payment of goods, breach of contract and other unethical business practices. List of alert companies:
- Grainvale Trading Co LLC
- RMG General Trading
- Nautical Miles Shipping
- Vavas Foodstuff Trading LLC
- Conveyors Foodstuff Trading LLC
- Skill Tech International General Trading LLC
- Al Ajlal Foodstuff Trading
- Galaxy Foodstuff Trading LLC
- Agrisea Foodstuff Trading LLC
- Adnan Hassan Foodstuff Trading LLC
- Kaushik Pradipbhai Foodstuff Trading LLC
- Fresh Leaf Foodstuff Trading LLC
- Shubh Frubles Foodstuff Trading
- Company LLC
- Ibtihaj Foodstuff Trading
- Fal Trading
- Importix Trading
- DPS Traders
- Rasaml Ward
- Al Douri Foodstuff Trading LLC
- Al Hamdan Foodstuff Trading
- Lima Tech
- Haameem General Trading LLC
- Fizaka General Trading
- Burj Al Madeena Foodstuff Trading LLC
- Noor Al Rabee Trading LLC
- Royal International LLC
- Welfare Wave Foodstuff Trading LLC
- Grains Ocean Foodstuff Trading LLC
- Al Samra Foodstuff Trading LLC
- Oribue Fresh Foodstuff Trading LLC
- Ahmad Sadiq Foodstuff Trading LLC
- Unique Nutrition Foodstuff Trading LLC
- Pingrow Foodstuffs Trading LLC
- Abhay Foodstuff Trading Co.
- Samko Fodder Trading LLC
- Euro Trading FZ LLC
- Alamdad Foodstuff Trading Co. LLC
- Banu Ali LLC
- Awadi Traders
- Switch Gear Group
- Bluebay Foodstuff
- Arakadia Fruits And Vegetables
- Swap Territory Trading Co. LLC
- Dalbani General Trading
- Golden Line General Trading
- Ahn Dynamics
- Aip Foodstuff Trading Co. LLC
- Bab Al Sham Foodstuff Trading LLC Dubai
- Ya Gaffaru Foodstuff Trading Co LLC
- Noor Al Izz Foodstuffs Trading LLC
- Khair Al Falah Foodstuffs Trading LLC
- Wahat Al Rayyan Trading
- Stowrich General Trading LLC
- Afiyah Foodstuff Trading LLC
- Aqua Garden Foodstuff Trading LLC
- Samaro Foodstuff Trading LLC
- Al Wafee Foodstuff Trading LLC
- One Stop Foodstuff Trading
- AKFF Foodstuff Trading LLC
- Green Grapes Foodstuff Trading
- Spring Star Foodstuff LLC
- Foodco National Foodstuff
- Royal Nabeel Foodstuff Trading
- Lasperanza Foodstuff Trading LLC
- Al Hashir Foodstuffs LLC
- Daily Pick Foodstuff LLC
- Skylink Foodstuff Trading LLC
- Albaraka Alttaiebah Foodstuff LLC
- Zaika Foodstuff Trading LLC
- Rebecca Foodstuff Trading LLC
- Neetapalace Foodstuff Trading LLC
- Noor Al Arab for Foodstuff Trading Co LLC
- Al Qaswaa Foodstuff Trading LLC
- Almeraq Foodstuff Trading LLC
- Al Araqa Foodstuff Trading
- UOC General Trading LLC
- Emad Alpasha Trading Co
- KJN General Trading LLC
- Nawab Foodstuff Trading LLC
- Ashraf Hashmi Foodstuff Trading LLC
- Alnashra Foodstuff LLC
- Moaaz Foodstuff Trading LLC
- Unigrain Foodstuff FZ LLC
- Aarax Foodstuff Co LLC
- Haji Foodstuff Trading
- Safiya Foodstuff
- Jas Deen Foodstuffs Trading LLC
- Khair Al Zad Foodstuff LLC
- Abdul Haq Noor Foodstuff Trading LLC
- Haji Abdul Wahid Foodstuff Trading LLC
- Dar Al Sadiq Foodstuff Trading LLC
- Al Bait Al Mubarak Foodstuff Trading LLC
- Taj Al Iman Foodstuff Trading Co. LLC
- Sama Al Bahr Foodstuff Trading LLC
- MK Foodstuff Trading LLC
- Sahanoor Foodstuff Trading LLC
- Almaeda Almubaraka Foodstuff Trading LLC
- Mateen Sadiq Foodstuff Trading LLC
- Bait Alsalam Foodstuff Trading LLC
- Avdaz Foodstuff
- Ceve Foodstuff
- Noor Al Yarmouk Foodstuff
- Arif Imran Foodstuff Trading LLC
- Saya International FZE
- Al Salwa Traders LLC
- H&MZ Global Worldwide FZE
- VKI Foodstuff Trading LLC
- ZIN Foodstuff Trading
- HSH General Trading FZ LLC
- Nature Valley Foodstuff Trading LLC
- Arif Khan Foodstuff Trading LLC
- Top Season Foodstuff Trading LLC
- Al Mouz Foodstuff Trading LLC
- Mohammed Yeasin Aziz Foodstuff Trading
- Shams Al Maeda Foodstuff Trading LLC
- Namco Foodstuff LLC
- Dhofar Cattle Field
- IDCO Foodstuff Trading LLC
- Top Trust Foodstuff Trading LLC
- Al Mailee Foodstuff Trading LLC
- Fooder King Trading LLC
- Future Mark Trading
- MS Import Export
Fraudulent behavior:
– Non-payment or late payment: Exporters have reported significant delays or complete non-payment for delivered goods.
– Breach of contract: The companies failed to honor the agreed terms and conditions.
– Lack of transparency: Many of these companies operate with opaque business practices and limited verifiable information.
– Difficulty in resolving legal disputes: Exporters face challenges in pursuing legal action due to jurisdictional complexities.
Recommendations for Vietnamese businesses:
1. Conduct due diligence: Verify the credentials, financial status and reputation of UAE-based companies before entering into any business deal.
2. Use safe payment methods: choose safe payment mechanisms such as Letter of Credit (LC) or prepayment to minimize financial risks.
3. Seek legal advice: Consult with legal experts knowledgeable in international trade law to draft solid contracts and understand dispute resolution mechanisms.
4. Contact the Vietnam Trade Office in the UAE for support and guidance when dealing with local companies.
5. Reporting Fraudulent Activities: Immediately report any suspicious or fraudulent activities to the Association or the Vietnam Trade Office.
Source: Ministry of External Affairs of India
Posts
No comments:
Post a Comment