How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TexLaw Your Own Question
TexLaw, Attorney
Category: Business Law
Satisfied Customers: 4430
Experience:  Internationational Commercial Attorney
Type Your Business Law Question Here...
TexLaw is online now
A new question is answered every 9 seconds

I am located in Trinidad and Tobago. My business has been

This answer was rated:

I am located in Trinidad and Tobago. My business has been compromised by a company that represents a brand that I distribute and was obligated to purchase from.
They sent a notification to my bank stating that they presented an invoice for payment and that I failed to pay them and as such were demanding payment on my Standby Letter of Credit in full. I only received a proforma invoice and was to be given 45 days credit from date of shipping shipping with the use of the Letter of Credit. The Goods were never shipped. An Invoice was never presented.
The result of their unethical and/or criminal actions resulted in an 18 month belay in any receipt of goods to my business, loss of customers, loss of staff, severely damaged my personal and corporate image in the market and with my bankers.

Is there any action I can take or recourse to recover damages?

My name is XXXXX XXXXX I will be assisting you with your legal question.

Yes, certainly there is. If the company wrongfully triggered your letter of credit, then you can sue for the damages caused based on the claims of Negligence, Breach of Contract, Fraud, and Negligent Misrepresentation. These claims can be filed in any US court which has jurisdiction over the company, which appears to be in Florida.

Please let me know if you have any further questions. Please also kindly consider rating my answer positively so that I am credited by the website for my work on your question. Rating positively does not cause an additional charge and does not prevent us from further discussing your questions.

Kind regards,
Customer: replied 3 years ago.

How do I go about securing an attorney to handle this type of matter for me.

As mentioned I am based in Trinidad and Tobago and they are registered in Miami FL.

It would also be good to have an idea of what it may cost to take action against them and also how to determine the value of damages caused.

This is a commercial litigation case. It is often an expensive proposition to bring this sort of case. Legal fees in the US are generally charged on a per hour basis. In general, the legal fees for a commercial litigator in Florida are around $250.00 per hour.

Depending on the complexity of the case, this can result in legal fees from $20,000 to $100,000. You can always place a limit or cap on the amount of fees up front, and can also ask for a flat fee rate (propose that the attorney conduct the entire case for a set amount...say $20,000 up front).

You can locate attorneys to handle this case by contacting commercial litigation law firms in the city in Florida where the company you want to sue is located. The easiest way to find a local attorney is to simply google "commercial litigation attorney __________ (city)". Generally, all law firms have websites and advertise on the internet. The better the website, the more money the law firm has made, which also indicates the success rate of the attorney.

In regard to a valuation of damages, your attorney will handle this. This is generally done by hiring an independent economics expert who will look at the lost profits that have resulted from the wrongs of the company.
TexLaw and 5 other Business Law Specialists are ready to help you
Customer: replied 3 years ago.

thank you Zachery

Good luck


Related Business Law Questions