An Italian company specializing in electronics, had commissioned a supply of goods to a well-known Chinese manufacturer with which the company was regularly doing business.
The goods were regularly shipped but during the sailing there was a fire on the ship.
The incident caused serious damage to the ship and also to part of the material purchased by the Italian company, making it useless for commercial purposes.
Despite the news of the incident on board the ship was public, the Italian company became a debtor to the Chinese supplier for a total amount of one million dollars.
It was also included on a “Blacklist” that prevented her from operating on the Chinese market
The Company entrusted the case to WayOut Strategy.
WayOut Strategy analyzed the various options and after careful reflection together with the client, it opted for a negotiation based on a repayment plan quantified for the goods that could be recovered after the accident.
The transaction, thanks also to the International network of WayOut Strategy, has satisfied everyone.
With a fast action and the right contacts on location both parties have thus avoid additional spending on time and resources without having to start a legal action.
In addition, the name of the Italian company was then restored on the Chinese market as it was removed from the blacklist as agreed in the negotiation.
A Korean tire manufacturer had established business relations with an Italian wholesaler.
In the last delivery, the containers were still in the landing port and the seller had no news from the buyer.
WayOut Strategy had been entrusted to find a solution to this problem.
After the necessary inquiries it was learned that, while the goods were traveling to Italy, the wholesaler was declared bankrupt.
WayOut Strategy informed its client by sending appropriate probative documentation.
WayOut Strategy proposed the client a strategy to relocate the goods to a third buyer before it was declared abandoned.
A deal was negotiated with the port authority in Italy in order to compensate for the storage costs.
In the meantime, a new buyer has been identified that has decided to buy all the goods, allowing the manufacturer to complete the operation avoiding significant economic losses.
A Chinese textile manufacturer has been in business for over a year with an Italian wholesaler
The wholesaler used to place small orders and to pay the goods according to agreed terms of payment.
Suddenly, the Italian wholesaler placed an order for a huge amount of fabric demanding however a term of payment of 60 days after the receipt of the original document.
Chinese suppliers, due to the consolidated business with the wholesalers, decided to deliver the goods accepting also the payment term.
However, once the goods arrived at their destination and were picked up, the wholesaler disappeared and became completely unreachable.
WayOut Strategy had been entrusted with the collection in the case.
All attempts to contact debtors were not successful at all, telephone numbers were not active and there was no reaction to the lawyers’ letters.
WayOut Strategy continued its investigation deciding to pay a visit to the registered office of debtor and found that there was no trace of the company.
A few days after the verification, the debtor company entered into voluntary liquidation.
From the results of the investigation and from more information gathered by WayOut Strategy, it was clear that this was a fraud against the producer.
WayOut Strategy has informed its client by sending all the collected data (photographs, names, contact details etc.).
The client was put in a position to decide the strategy with his insurance company, limiting the damage.
An American plastic producer regularly furnished products to a Spanish wholesaler. The two firms had a solid relationship dating back many years.
Suddenly invoices stopped being paid.
The e-mails sent by the manufacturer were not answered and, from phone calls, it was obvious that the referent of the Spanish company was avoiding any kind of contact.
WayOut Strategy got engaged with instructions to collect the outstanding amount.
WayOut Strategy started contacts with the debtor company and in short time fixed a meeting with the director.
At the same time WayOut Strategy conducted some investigations to collect information about the debtor company.
It was discovered that the wholesaler was in a serious financial crisis.
On the day of the meeting the matter was confirmed by the director, who however had expressed the will to deal with his debt in order to continue to entertain commercial relations with the producer.
Thus, a negotiation with the debtor started.
WayOut Strategy informed its client about the state of affairs and communicated that the debtor company was willing to cooperate.
After some days of negotiations, the debtor company sent an official repayment proposal, structured into six monthly instalments for the payment of the total amount.
WayOut Strategy informed its client and it was advised that, due to the state of affairs, the option of a long and expensive legal action would not have been more successful.
The transaction was the best strategy to adopt.
The American company therefore accepted the wholesaler’s repayment plan and the payments were made every month on schedule .
Subsequently, the wholesaler was slowly solving its financial problems and the commercial relationship between the two companies has been restored.
The knowledge of the national market and the professional way of approaches of WayOut Strategy were key factors in succeeding collecting the money.