Unpiad ICPO ...legal grounds for compensation?
Post 1 of 8
I have a buyer who is the chief purchasing officer of their company who signed an ICPO for over 7 million dollars. We gave them all of the proof of past production runs and now it looks like they are slowly backing out.
Because of the ICPO, we were able to submit the Purchase order to the direct supplier.
If they back out, the supplier will black list me and not allow me to purchase through him again. I also had someone who was willing to buy the items but offered a lower price in hopes of building a long term relationship together.
Twice they have said the money is on the way, then we found out they only had 5 of the 7 million, and they told us the remaining 2 million would be sent shortly. Since then we haven't heard from them and they have ignored our attempts to contact them by e-mail, msn and phone.
I have spent 3 weeks on this exclusively. Does she need a reason for backing out? We gave her all the terms upfront and are on ICPO and have followed them perfectly. Can we get compensation? What are the precautions of an unsigned ICPO in New Zealand with us being in the USA?
Thank you
Dustin Jones
Because of the ICPO, we were able to submit the Purchase order to the direct supplier.
If they back out, the supplier will black list me and not allow me to purchase through him again. I also had someone who was willing to buy the items but offered a lower price in hopes of building a long term relationship together.
Twice they have said the money is on the way, then we found out they only had 5 of the 7 million, and they told us the remaining 2 million would be sent shortly. Since then we haven't heard from them and they have ignored our attempts to contact them by e-mail, msn and phone.
I have spent 3 weeks on this exclusively. Does she need a reason for backing out? We gave her all the terms upfront and are on ICPO and have followed them perfectly. Can we get compensation? What are the precautions of an unsigned ICPO in New Zealand with us being in the USA?
Thank you
Dustin Jones
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30 Jun 2007 08:22
Post 2 of 8
Replying to [Dustin Adam Jones]:
Life as a broker is not as easy as it seems, you got a deal for 7million usd and you dont have any idea how to handle??
Production runs, come on. Your supplier got prices so cheap , dont you think they would already be so busy with their existing clients if they had the products.
Maybe your client backed out because they realised they were not stupid enough to believe you.
Life as a broker is not as easy as it seems, you got a deal for 7million usd and you dont have any idea how to handle??
Production runs, come on. Your supplier got prices so cheap , dont you think they would already be so busy with their existing clients if they had the products.
Maybe your client backed out because they realised they were not stupid enough to believe you.
01 Jul 2007 11:26
Post 4 of 8
Replying to [Dustin Adam Jones]:
Also, dont you think if the buyer was so professional, they would at least give us a phone call or a message saying that they do not intend to move forward for whatever reason? Thats the biggest issue, there is no communication. Tell me yes or no, I just want to hear something!
This is also NOT the supplier I was talking about with Product Stream International. This is a USA supplier ive used for small orders FYI.
Also, dont you think if the buyer was so professional, they would at least give us a phone call or a message saying that they do not intend to move forward for whatever reason? Thats the biggest issue, there is no communication. Tell me yes or no, I just want to hear something!
This is also NOT the supplier I was talking about with Product Stream International. This is a USA supplier ive used for small orders FYI.
01 Jul 2007 18:57
Post 5 of 8
Replying to [Dustin Adam Jones]: Dustin, contact me on Trade Manager, or you can follow my signature line to call me directly. We need to talk about the ICPO. There is a way for compensation but your going to need some details and other information.
Ranger
Ranger
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02 Jul 2007 19:04
Post 6 of 8
Replying to [Dustin Adam Jones]:
Ranger has given me some good advice. Does anyone else have any experience or knowledge first hand on the severity of unpaid ICPO's.
Thank you.
Ranger has given me some good advice. Does anyone else have any experience or knowledge first hand on the severity of unpaid ICPO's.
Thank you.
03 Jul 2007 11:55
Post 7 of 8
Replying to [Dustin Adam Jones]:
What is "ICPO" ?
hehe,,,, just passing by...
Answer me , give you this --->![[em15]](http://img.alibaba.com/images/eng/style/icon/emoticons_wish_you_wealth.gif)
What is "ICPO" ?
hehe,,,, just passing by...
Answer me , give you this --->
03 Jul 2007 18:01
Post 8 of 8
Replying to [Dustin Adam Jones]:ICPO is irrevocable corporate purchase order.
03 Jul 2007 18:58
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