SynerTrade LLC Had a written proposal for Iron Ore CIF ASWP from CEO. Then it became FOB Brazil 21710 Lancelot Drive Brookfield Wisconsin
I am trading in raw materials.
It is in my industry very bad style to step away from a written proposal. This casued me a lot of dammage, and I lost over USD $ 200,000 due to his mistake. I was about to buy 110,000 Metric Tons od Brazil Iron Ore from SynerTrade.
> Dear Mr. Weber,
>
> I have just been informed by Mrs. Lila that your offer
> is not CIF ASWP, but actually FOB Brazil. This would
> make a price increase of 20$ / MT Iron Ore.
> Below is a snapshot of the relevant part of the chat.
>
> Can you confirm your affirmative pricing,
> as I am in need of an explanation for my buyer.
>
>Best regards,
>
>Michael H
Here a yahoo chat with SynerTrade's processing department, Mrs. Lila. She said her boss (Mr. Weber is the CEO! is a new associate ... I am confused!) The promised answer did not come.
>cashmoneybros: he gave you fob pricing correct?
>michaelh: In the same fashion would I appreciate if you can deliver the other documents
>michaelh: No, CIF ASWP
>cashmoneybros: he mistaked
>cashmoneybros: we do fob
>cashmoneybros: i have the cif pricing
>michaelh: Shall I resent all related files in 1 mail ?
>michaelh: I accept your CIF ASWP price
>cashmoneybros: if the price is 48 it is fob
>michaelh: ?
>cashmoneybros: i am looking at mr webers offer
>cashmoneybros: now
>michaelh: Quantity Requested & Pricing: 48 usd per mt 60-70,000 MT (65%) CIF ASWP
41 usd per mt 60-70,000 MT (63%) CIF ASWP
>cashmoneybros: incorrect sorry
>cashmoneybros: i have talked to a few people today on behalf of mr weber
>cashmoneybros: who is a new associate of our company
>cashmoneybros: that price that was given to him was foc
>cashmoneybros: fob
>michaelh: That mistake would make 20 - 22$ /MT in difference and is not longer acceptable
>cashmoneybros: ok i understand sir
michaelh: I was reading CIF ASWP
>cashmoneybros: understood sir
>michaelh: Can I have an email from Mr. Weber that there was a mistake in his offer and what is the new CIF price?
>michaelh: I have to apologize to my buyers for my incomplete offer
>cashmoneybros: sure i will inform him to do such
>cashmoneybros: today
>michaelh: Thank you Mrs. Lila
Michael
Bangkok
Thailand