Rationel Windows - Payment Terms

[craig]

4 minutes ago, AnonymousBosch said:

 

He's a very nice man @lizzie, a very very nice man. Ugly, though.

 

Oi, less of the nice ?

Edited May 9, 2019 by craig

[newhome]

32 minutes ago, Triassic said:

But wait a moment, taking a small deposit via a credit card must move the risk to the credit card company. At the moment the risk is all mine!

 

Potentially the issue may be that credit card companies may not want to underwrite the risk of a huge transaction when they are only getting peanuts in terms of commission for a £100 transaction that leaves them liable for 30k worth of goods. Why would they want to do that? 

 

[dpmiller]

Makes me glad I went with a bog-standard UPVC company- deposit on CC, bulk payment immediately before install on CC, cash to fitter on installation.

[Vijay]

1 hour ago, newhome said:

 

Potentially the issue may be that credit card companies may not want to underwrite the risk of a huge transaction when they are only getting peanuts in terms of commission for a £100 transaction that leaves them liable for 30k worth of goods. Why would they want to do that? 

 

 

I assume cos section 75 says they have to

[craig]

44 minutes ago, Vijay said:

 

I assume cos section 75 says they have to

 

That doesn't mean that the credit card company have to supply a company with the services to offer that though. If they do not want to offer it, not much the company can do. We've looked at several, each one are of the same opinion. To much of a risk in terms of the transaction value, especially when the value of orders, is in the tens of thousands.

Edited May 9, 2019 by craig

[newhome]

3 minutes ago, Vijay said:

 

I assume cos section 75 says they have to

 

Yes so all the more reason for them to look for ways to make it difficult for such companies to utilise that facility I imagine. 

[Triassic]

I’ll have to look at the small print of my self Build policy and see if they cover the risk in the event of any of those in the supply chain going bust and me looking money and or windows fail to turn up!

[newhome]

30 minutes ago, Triassic said:

I’ll have to look at the small print of my self Build policy and see if they cover the risk in the event of any of those in the supply chain going bust and me looking money and or windows fail to turn up!

 

I would say that you are almost certainly not covered through your self build policy. For one thing such a clause would need to assess the risk of such a scenario and they could not be sure if you were planning to use a company with a poor trading history vs one that had a solid history. You may be able to find a specialist policy that provided such cover but that would no doubt go through a professional underwriter (as opposed to system determined auto underwriting) and the cost likely to be prohibitively expensive. 

[Triassic]

I could live with paying the 50% on placing the order, it’s the 50% to be paid two weeks before delivery. I’d be paying before I’ve even seen the goods.

[newhome]

21 minutes ago, Triassic said:

I could live with paying the 50% on placing the order, it’s the 50% to be paid two weeks before delivery. I’d be paying before I’ve even seen the goods.

 

Yep, that's pretty standard it seems. I paid for my windows up front too TBH. Bank transfer, no cover. They turned up 

 

 

[gravelld]

We pay:

 

10% deposit

40% 7 days before manufacture

40% 7 days before delivery

10% 7 days after delivery

 

Nordan.

[Roundtuit]

46 minutes ago, newhome said:

 

Yep, that's pretty standard it seems. I paid for my windows up front too TBH. Bank transfer, no cover. They turned up 

 

Me too.  Rationel windows/Solarlux bifolds; 50% up front, balance 10 days prior to delivery.  In retrospect, I was a little concerned about paying up front, but that paled into insignificance compared to the worry about whether they'd fit the holes I'd measured....

[Triassic]

1 hour ago, Roundtuit said:

In retrospect, I was a little concerned about paying up front, but that paled into insignificance compared to the worry about whether they'd fit the holes I'd measured....

Oh well, looks like I’ll just have to pay up for my 44 windows and hope they turn up and fit. Mind you, the local distributor has had two guys here all day measuring up, so that’s one less thing to worry about.

[craig]

On 08/05/2019 at 23:15, craig said:

The issue we have, irrespective of credit history, is we are a window supplier. No matter the balance the risk to card company is too high.

 

They want to retain the money for 30+ days before releasing it, taken another 7 days or so.

 

Effectively delaying production starting by up to 6 weeks. We have card facilities but they won’t allow the window orders through card payments. 

 

Might actually check with them again on smaller amount payments, for section 75 safety to the consumer. I have a funny feeling what they will say.

 

Just wanted to come back to this, we have been in touch with our CC supplier and they are apparently no longer allowed to refuse CC facilities on that “risk” factor.

 

They are no longer allowed to hold the payment for a set period either.

 

As long as credit checks etc. are OK, they can allow the terminal without a value restriction. At least our supplier can (worldpay).

 

Obviously in the process of setting this up now with them.

Edited May 21, 2019 by craig