How would you protect your "lien rights" to equipment sold to a
private firm in India? (Terms are 70% before shipment and the balance
payable quarterly over 2 years at 10%) Is there a U.C.C. type filing
for international
sales? |
Request for Question Clarification by
pafalafa-ga
on
12 Feb 2006 19:46 PST
One highly recommended first step is to conduct a thorough due
diligence background check on the company you're dealing with.
If you are a US-based business, the US government can assist you in
such a check in most major cities in India, for a modest fee:
-----
"The International Company Profile (ICP) service helps U.S. companies
evaluate potential business partners by providing a detailed report on
overseas companies. A standard ICP report includes information on the
local firm's size and revenue, organization, background, imports,
financial information and key customers. It also provides advice on
the reliability and relative strength of the company in the Indian
market. The ICP service keeps the name of the U.S. client
confidential. The report is prepared on the basis of a personal visit
to the local firm's office facility. The credibility of the local firm
is checked through client, bank, and trade association affiliations.
The ICP report is available in 7 Indian cities where the [US
Government] Commercial Service maintains offices: New Delhi, Mumbai,
Chennai, Calcutta, Bangalore, Hyderabad and Ahmedabad..."
----------
Similar checks can also be done by private firms.
Would details of this service be of interest to you as an answer to
your question?
The same US government agency can also provide advice on your legal
protections and remedies should something go amiss with your deal.
Let me know what you think.
pafalafa-ga
|
Request for Question Clarification by
pafalafa-ga
on
15 Feb 2006 15:28 PST
Just checking in...do you have any thoughts about the suggestion, above?
|
Clarification of Question by
robot1-ga
on
16 Feb 2006 14:27 PST
pafalafa-
The client is a start up company in Bangalore but, I have been
checking with the Ex-Im Bank regarding obtaining their insurance for
the receiveable and I must provide certain information including
financials in order to proceed. It may be that the service you
describe will be helpful if the information is not easily obtained
from the client.
|
Clarification of Question by
robot1-ga
on
16 Feb 2006 14:53 PST
Further clarification- The client has an established parent company in
the movie mutiplex business. The project development has been cleared
through the necessary government channels and they have received a
substantial grant from the gov't to proceed.
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Request for Question Clarification by
pafalafa-ga
on
16 Feb 2006 16:14 PST
Sounds like things are proceeding well.
Let me know if I should answer your question by providing further
information on the 'International Company Profile' (ICP) service, and
other services that the US government provides for potential sellers
of goods and services to overseas markets.
If ICP is not the sort of answer you had in mind, then let me know
what other sort of information you still need at this point.
Thanks....and best of luck,
paf
|
Clarification of Question by
robot1-ga
on
17 Feb 2006 11:21 PST
Paf-
The solution I was requesting has not been satisfied however, "chattel
property" protective rights may not be formalised in India. With that
said there is a chance I'll get back to you for more information
regarding the research and due diligence approach you
suggested..especially if the ex-im bank can't get what they need for
their guarantee. Thank you for your time and help.
John
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