PDA

View Full Version : Risky suppliers? worth the risk.


ECI
27-05-2007, 04:54 PM
Just a quick one.

Would you risk buying from a company if you knew they still havent filed their accounts over 4 months after the due date, and had CCJ's against them?

Basically trying to ascertain how you personally trust a company you buy from. It may be great that they are cheap etc, but would you spend slightly more with a company that has a very good trading track record, to reduce the risk of one of you suppliers going bust on you?

Personally I dont buy from such companies, as they have not paid another company for something, and if they cant be organised enough to file accounts in time, can I trust them to supply me?

(Leeway is allowed, sometimes accounts can be filed up to a month late in my opinion, as there are often factors outwith a companies control, I reckon any more than a month late is bad!)

Stu

Rachael
27-05-2007, 07:38 PM
I'd be a bit weary about using companies that didn't pay their bills and hadn't filed their accounts just in case they just shut down.

How do you know the company have CCJs btw I thought you had to have a persons permission before you credit checked them?

Also I don't think I'd be too judgemental if it was a minor case as when I was a student I got in a right mess with my money and my credit rating wasn't brilliant as a result so wouldn't want anyone judging me on past mistakes.

moneyman
27-05-2007, 08:34 PM
Why are you paying up front? If you dont pay until you get the stock the risk is minimal.

jdbtelecom
27-05-2007, 08:59 PM
Are you dealing with a main supplier or someone who is brokering their stock?

If it is a supplier then they should have no problem with you going to check the goods out first then paying them. If you have a trust issue with them and can't go and collect the stock physically then I would suggest paying through a secure methods e.g. Escrow (www.escrow.com).

If they are brokering the stock then they usually need your money to place an order with their supplier. I don't know what products you are buying but I have found that the above is the case for electronics.

I would personally only buy from a company that I could trust, you need to rely on them for the products you are selling. If a company is lax about something as important as submitting their accounts then you have to wonder what else they are lax about.

Jibber Jab
29-05-2007, 09:07 AM
A report from companies house will show if a Ltd. company has had any CCJs or other adverse data against it.
Basically the report is like a credit search on an individual however this is a search against a particular company. I don't know of any other ways you could find out if CCJ's have been registered.