Subject:
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Re: 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 13:42:27 GMT
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Viewed:
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1249 times
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Why just England? What about the rest of the UK?
:-)
Scott A
> 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 is in Reply To:
 | | Suspension of English factoring services
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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 (...) (25 years ago, 21-Mar-00, to lugnet.market.services)
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