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A $130M Deal Closed — Then the Chinese SOE Refused to Pay the Broker Fee.
— $280K Recovered Without a Lawsuit.
United States · Negotiated Settlement · 2021
$340K claimed · $280K recovered ·2 months
Background
In 2021, a U.S. company entered into a sales contract with a Dalian-based Chinese company to purchase stainless steel materials, with the trade term CIF Baltimore.
The Dalian company arranged shipment, and the carrier issued a bill of lading naming the Dalian company as shipper and the U.S. company as consignee. Upon arrival in Baltimore, the container and its contents were found severely damaged, and the U.S. company refused acceptance.
Dispute
The shipment was insured by a Dalian-based insurer under an All Risks policy (including War and Strike Risks), with a deductible of 0.03% of the loss amount. The insurer refused the claim.
Outcome
The U.S. company retained SuitWin Recovery. After multiple rounds of negotiation, the insurer ultimately agreed to pay the U.S. company $280,000 — without litigation.
