Subject:
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Suspension of English factoring services
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Newsgroups:
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lugnet.market.services
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Date:
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Tue, 21 Mar 2000 00:56:45 GMT
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Viewed:
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1193 times
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It pains me to let you know that due to a serious imbalance of payments, and
excessive currency risk, I have to ask for a suspension of factoring services
for deals involving english sellers and non english buyers.
This is due to all my factorees in the UK having excessive credit balances with
me and having been burned on currency exchange too badly, so not being keen on
me sending them USD at this time.
The only exceptions are:
- deals already in progress
- deals involving the Collins family as direct participants as they are not
concerned by exchange rates since they're coming to the US on holiday soon and
want the USD to use while they're here.
- deals in which an english BUYER wishes to buy something from somewhere else.
This suspension is in effect till further notice.
One way to lift it would be for someone to contact me privately with a cheap
and safe way of moving a large sum of money from the US (in USD) to the UK (in
sterling) and having to pay very close to the interbank rate for exchange
rather than the retail rate we normally all pay.
Right now it seems like all my UK factorees are doing is constantly emitting
checks to UK sellers who have refused to become factorees themselves because
they don't want to be bothered with the work and don't want the exchange rate
risk (Hello to one particular big seller, you know who you are, since I just
about quoted word for word your note to me declining my request that you become
a direct factoree), and in the process my UK factorees are getting burned by
exchange rate costs and losing money. That's not fair to them.
Note also that if we don't have some German buyers turn up soon, Germany isn't
too far away from being suspended as well, the imbalance there is nothing short
of ridiculous and Horst has been very very patient with my sending him 400 a
week, week in and week out (while getting accusations hurled at him of exchange
rate profiteering)
++Lar
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Message has 3 Replies:
 | | Re: Suspension of English factoring services
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| Why just England? What about the rest of the UK? :-) Scott A (...) and (...) services (...) with (...) keen on (...) not (...) and (...) else. (...) cheap (...) (in (...) emitting (...) because (...) rate (...) just (...) become (...) by (...) isn't (...) (24 years ago, 21-Mar-00, to lugnet.market.services)
| | | Re: Suspension of English factoring services
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| (...) Simon, Larry & Lugnet, Perhaps the way to progress matters in, the short term, is to start a quota system (ie for very $1 worth of Lego a AFOL in the UK buys via the service, he is able to sell $1)? Scott A. BTW : For the sake of transparency, (...) (24 years ago, 24-Mar-00, to lugnet.market.services)
| | | Re: Suspension of English factoring services
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| Larry Pieniazek <lar@voyager.net> wrote in message news:FrqyML.6LM@lugnet.com... (...) else. Are you still doing deals for UK buyers/US sellers?? I have a potential deal in the works (US$65). LMK, and I'll fill out a request. Thanks, -Rob. (24 years ago, 19-Apr-00, to lugnet.market.services)
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