On January 16, the Ministry of Industry and Trade cited the announcement from the Vietnam Trade Office in Spain, urging Vietnamese businesses to exercise caution when signing export agreements with a Spanish partner operating under the trading name "Isasa Siglo XXI, S.L."
According to the Vietnamese Trade Office in Spain, this company has recently faced criticism from several Vietnamese exporters of black pepper and cashews. Upon the goods' arrival at the receiving port, the company frequently resorts to excuses such as inadequate quality assurance or financial losses, resulting in delays in settling the remaining payment.
This situation has led to challenges, wasted time, additional storage costs, and necessitated the retrieval of goods by Vietnamese businesses.
Specific information about this partner is as follows:
Company: ISASA SIGLO XXI, S.L.
Representative: Mr. Manuel Gil or Ms. Annie
Headquarters: CALLE RIOGORDO, NAVE 4, ESTRELLA, 29006 MALAGA, SPAIN
Phone: +34 617 36 75 03; +34 689 77 10 04
Email: info@isasaexport.com; isasa@isasaexport.com
Website: https://isasaexport.com/en/home/
Therefore, the Vietnamese Trade Office in Spain issues a warning to domestic businesses, advising caution when entering into purchase contracts with the mentioned company. The Trade Office suggests that businesses enhance collaboration with the trade office to verify the credibility of their potential partner before finalizing any purchase agreements to avoid risks and fraud.
According to the Ministry of Industry and Trade, in 2022, a fraud incident occurred involving 76 containers of Vietnamese cashew nuts exported to Italy, manipulated by a deceptive brokerage firm. Around July 2023, according to the Vietnam Pepper and Spice Association, five containers of cashews, pepper, cinnamon, and star anise from four Vietnamese companies were at risk of loss in Dubai, United Arab Emirates.
Experts emphasize that the risk of fraud in international business is exceptionally high. Vietnamese businesses should conduct thorough studies of international laws, adopt secure transaction methods, and steer clear of risky approaches.
