It seems my Chinese supplier has stolen $50,000...do I have any recourse?
Sorry for the rambling disorganized story.... I've been having some goods manufactured in China for several years now. We have always worked through the same contact, let's call her "Zoe". Zoe was recommended to us by a Chinese friend (let's call him Lee) of my business partner. Whether it has been the same company performing the actual manufacturing this whole time I do not know. We typically place orders consisting of 3 forty foot shipping containers at a time. The typical terms of the agreement are that we pay for containers #1 & #2 up front, #1 is manufactured and sent to us, we pay for #3, and then #2 and #3 are sent to us. The justification for this is that they had to purchase raw materials for the entire order in advance. This seems reasonable to me. Whether or not that is actually done I do not know. It typically takes us about 18 months to work through 3 containers of inven
Why it failed
Sorry for the rambling disorganized story.... I've been having some goods manufactured in China for several years now. We have always worked through the same contact, let's call her "Zoe". Zoe was recommended to us by a Chinese friend (let's call him Lee) of my business partner.
- Kind
- startup
- Status
- Shut down
- Inventor
- mistermann
- Ended
- 2011
- Source
- hackernews