We are lawyer representing the buyer (b) in a cfr coal trade dispute. We need a coal trader/broker to help us to understand the mechanics and timeline of a typical coal trade. In our case, b failed to put up an lc for a coal trade, which subsequently fell through. B says that it didn't put up a letter of credit because: (i) the seller (s) didn't provide a pro forma invoice (as required by the contract) upon which the lc was to be based, i.E. S did not satisfy a prior obligation and (ii) s had already loaded the coal onto a vessel without notifying b or obtaining its consent, thus depriving b of its right to attend the draft survey, attend the sampling process or to nominate the stevedores (all of which b was entitled to do under the contract). By way of background, we understand that s was urgently trying to get rid of a distressed cargo from a deal that had just fallen through, but that was not disclosed to our client. After entering into the contract and expecting to be able to send its representatives to inspect the coal and witness the weighing and sampling exercises, b was suddenly told that the cargo had already been loaded. When b then refused to put up an lc, s sued b for the full value of the coal.+4 Other Responses
China Coal Industry
My name is amy and i work for ****, a primary research services provider to institutional investors headquartered in new york - simply hoping to make a brief introduction.
I am currently assisting a client which is a global institutional investor focused on asia markets. Their team of researchers are currently interested in china coal industry. They would like to speak with professionals who can help them understand the dynamics, and current trends. Considering your experience, i wanted to see if you would be interested in a possible, 1-hr phone consulting opportunity with our clients.
As background, we are an independent research firm that connects institutional investors with industry professionals like you. Our clients conduct industry research and as part of their research, they request to speak with industry professionals. As a matter of policy, you must not disclose any material, non-public or confidential information about your current employer or any other person or entity that are subject to any confidential obligation, relationship or agreement. We also ask our client not to knowingly ask you to disclose such information.
We believe that this consulting engagement would be a valuable networking opportunity. To further make it worth your time, we compensates experts for their time spent with the client.
Are you free for ~10 minutes for an introduction and to discuss further? If you have any questions, please let us know.
I look forward to hearing from you.
amy+17 Other Responses