Kenote Finance are not Purchase Order funders, they are ********

I came across this company on the net. Kenote finance. I contacted them via phone and we started communicating via email regarding the prospects of funding our Order. I emailed them the details of the PO. The PO amount was for R304 373 received on 29.06.2021. I emailed them on 14/07/21. They came back with an offer on 15/07/21 to which I agreed to the terms as stipulated on the agreement. The terms were terrible but I just wanted to ensure the delivery happens so I don’t mess up the relationship. On the 20th july I went in to sign the contract. Part of their modus operandi in ensuring that they secure their funds from the client is to have access to your bank account so when the client pays you, they immediately take their money and also having csd login details so you don’t change your bank details on the central supplier database of government. I found this fair and as such agreed to it. The other condition for them is that they will vet your supplier, in my case Fitness network, to ensure authenticity and that the supplier exists and supplies at market related pricing. Sounded fair at the time. However weeks go by without my clients receiving their equipment. I then call the contact person called Thapelo, he says theyre finalising with the supplier and will deliver in a week or so. another week goes by the supplier calls us and asks if we are still taking the equipment, we informed them that the funder said the were vetting them and that the funder also said they made contact and will be making payment of the goods. The equipment supplier said nobody contacted them. I contacted Thapelo again and he said they will not be purchasing from that supplier but have found another supplier. Essentially, they find a cheaper supplier so they can maximise profits. I asked in the context of you finding a cheaper supplier, does this mean then that I as a service provider will also benefit from you sourcing cheaper pricing as we have a signed agreement which strictly speaks to costs and sharing of profits as xyz. He essentially avoided to respond and said he doesn’t know. That was the red flag for me. (KENOTE FINANCE FINDS A CHEAPER SUPPLIER TO MAXIMISE PROFIT AT THE DETRIMENT OF THE SERVICE PROVIDER TO THEIR CLIENT. THEY ESSENTIALLY ENRICH THEMSELVES BEYOND THE SIGNED AGREEMENT) 6 weeks or so later the delivery happens after many fights with my client. They deliver sub standard cheap equipment. Remember the maximising of profit? The client rejects it. Again, it takes longer to deliver proper standard equipment to my client. Eventually all is delivered without my knowledge of how much they paid for the equipment and where. Now, that’s is skewed and very questionable principles for a business of any nature more so this one. Eventually , they get paid, they deduct their money and PAY ME HALF OF WHAT WE AGREED ON THE CONTRACT WHICH IS EVEN BELOW THE VAT AMOUNT. MEANING I MUST NOW FUND THE BALANCE TO ENSURE I PAY VAT BECAUSE MY SHARE IS EVEN BELOW VAT. So essentially , they do this because they have access to the account. They tell you that you will get a reckon after we get paid by the client and pay you. So you essentially this is preparation for robbing you because you can only react after being cheated. If all will be above board as per agreement, why not share the recon upfront ? I was informed by an internal source that they do this to all these companies. Imagine, I brought a credible supplier to a funding institution for the procurement of equipment, they decide to use a cheaper one to make more money and still cheat and **** me from our profit share agreement. Many entrepreneurs may not have a voice or strength to fight these ****s, I want them to stop with immediate effect and be exposed and close down. Please assist.