Re:Egypt demands over $1B in damages after Suez Canal blockage
by madaxe_again on Sunday April 04, 2021 @07:20AM
(#26688536)
Absolutely. They see an opportunity to make some revenue, and they will. This is, in the nicest possible way, the way business is done in Egypt. You start from an absolutely outrageous position, and settle on something both parties are generally happy with. This applies from billion dollar lawsuits to buying a pack of cigarettes. Haggling is an art form there.
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Re:Egypt demands over $1B in damages after Suez Canal blockage
by f6v on Sunday April 04, 2021 @07:32AM
(#26688622)
I got an impression that any lawsuit goes like that everywhere. A claimant asks for outrageously high compensation and settles for much less.
Re:Egypt demands over $1B in damages after Suez Canal blockage
by ARandomerDude on Sunday April 04, 2021 @02:33PM
(#26691742)
> This applies from billion dollar lawsuits to buying a pack of cigarettes. Haggling is an art form there.
Re:Egypt demands over $1B in damages after Suez Canal blockage
by elcritch on Sunday April 04, 2021 @05:44PM
(#26693102)
Some sellers in markets in the region will get offended if you don’t try and haggle, even it means they’ll make 10x the profit that they’d settle for.
Re:Egypt demands over $1B in damages after Suez Canal blockage
by manquer on Sunday April 04, 2021 @06:18PM
(#26693326)
It is not the about the money.
Traders would sometimes take a hit even for a good argument. There is no fun in making 10x money that way. They want to earn it.
You will find such traders in all over West Asia/arabic world like Egypt, Istanbul and as far off as delhi, not everyone is like that however, plenty will straight up cheat.
Re:Egypt demands over $1B in damages after Suez Canal blockage
by SergeAx on Sunday April 04, 2021 @04:05PM
(#26692418)
Do you have even anecdotal example of this behavior on industrial level, or just projecting your own touristic experience?
Re:Egypt demands over $1B in damages after Suez Canal blockage
by madaxe_again on Monday April 05, 2021 @05:26AM
(#26696921)
Yes - my business provided ecommerce infrastructure for a major Egyptian brand. The negotiations were... actually rather fun. It all started by phone and email, they tried to rip us off, we poked fun at their attempts, and returned in kind. Ultimately I flew out to Alexandria and after an afternoon of Very Serious Business we shook on it, and became best friends.
Elsewhere, there’s always a degree of horse trading, but the focus is on getting the deal done - here, the focus was very much on doing the deal. The negotiations over terms were far more of an assessment of us than the RFQ and the pitch were, whereas with western brands, the inverse is true.