Print Page   |   Contact Us   |   Report Abuse   |   Sign In   |   Register
Case Studies on Trade Fraud and Dispute Resolution in China
Tell a Friend About This EventTell a Friend
Case Studies on Trade Fraud and Dispute Resolution in China

China, being the world factory, is one of the closest business partners of Hong Kong. Every company that conducts trading business with China inevitably exposes itself to potential trade fraud and disputes.

25/02/2014
When: 25/02/2014
From 6:30 PM until 8:00 PM
Where: The Canadian Chamber of Commerce in Hong Kong
1301 Kinwick Centre
32 Hollywood Road
Central
Hong Kong
Contact: Amanda Ho


Online registration is closed.
« Go to Upcoming Event List  

About the Event: 

China, being the world factory, is one of the closest business partners of Hong Kong.  Every company that conducts trading business with China inevitably exposes itself to potential trade fraud and disputes.  

This seminar is tailor-made to share with you the relevant risks and preventive measures from the angles of an importer and/or an exporter.  All the cases are real which were handled by the speaker as a legal practitioner, ex-banker and an accredited mediator.  You will take all the risk mitigating factors, legal principles, documentation advice and practical handling approaches back to your office. 


Case Studies

1.    Import Risks

An importer identified a potential seller and issued a letter of credit ("L/C”) through its banker.  By the time the importer found out that no goods were ever shipped, the issuing bank had already effected payment to the seller since the presented documents were complying on their face.  Each importer is exposed to similar risk of forged documents presentation.

How to identify and prevent presentation of forged documents under import L/Cs so that an importer will not pay millions of dollars for a set of useless papers?


2.    Export Risks 

An exporter shipped the goods under an export L/C confirmed by an international bank.  To mitigate risks, the exporter instructed the confirming bank not to send the original documents (including a full set of charter party bills of lading) to the issuing bank until it had accepted all the discrepancies that appeared on the presented documents.  Notwithstanding the exporter still holds all the original documents today, the buyer took the goods years ago without payment.   

How to ensure control over export goods if the buyer fails to pay?  How can a buyer take delivery of the goods without production of any original bills of lading?


3.    Dispute Resolution

It is not uncommon that buyers will find excuses to negotiate for price reduction whenever the price of goods drop.  Some buyers may even allege fraud and/or obtain court orders prohibiting payments to the seller.  This could be a nightmare for the seller.

How to resolve China trade disputes amicably and recover 100% of proceeds within weeks and without litigation?


About the Speaker: 

           Mr. King Tak FUNG              

Mr Fung is a Partner, Asia Head of Banking & Finance, Eversheds* specializing in Banking and International Trade Law and Practice.  He is also former Vice President and Head of Trade Finance at Bank of America N.A.  Mr. Fung  has handled a large number of trade fraud, injunction and trade disputes cases with extremely successful results and has recovered tens of millions US dollars for various banks and companies.  He has conducted over 450 interactive legal and banking workshops since 1998 within which over 50 workshops were held in China.  Over 45,000 judges, lawyers, bankers and business executives have attended his interactive workshops in Asia, Europe, N & S Americas with excellent fee back. 


* Eversheds is one of the largest law firms in the UK in terms of number of lawyers

# ICC stands for International Chamber of Commerce

Search
Sign In


Forgot your password?

Haven't registered yet?

Member Privileges
Upcoming Events

 

PLATINUM SPONSORS




 

GOLD SPONSORS



 

LOGISTICS SPONSOR


 
Copyright © 2013 The Canadian Chamber of Commerce in Hong Kong. All rights reserved.