Home – New Forums Money matters Selling off client’s stock to compensate for lack of payment

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  • #987109
    MMiad
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    I did an engraving job for a client where they supplied the stock. They gave me surplus stock and were happy for me to hang onto it with the view to getting more engraved in the future. No problem there.

    Prior to completing the initial order, I requested and received a 50% deposit, with the balance to be paid on their receipt of goods.

    We delivered the goods a few months back with an accompanying invoice. They didn’t pay. We sent the reminder. Didn’t pay. We’ve left three phone messages, no response.

    So obviously they don’t intend to settle.

    Because it’s a small town, we don’t want to get legal with them, and the balance is relatively small (less than $100), but it’s still money we’re owed.

    HERE’S THE QUESTION:
    Would I be within my right to sell off the surplus stock they provided, to compensate for the loss? And would I need to inform them of my intention prior to doing so?

    #1161197
    LucasArthur
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    MMiad, post: 186149 wrote:
    HERE’S THE QUESTION:
    Would I be within my right to sell off the surplus stock they provided, to compensate for the loss? And would I need to inform them of my intention prior to doing so?

    Sorry to hear about the dramas.. my initial thought is did they sign a ‘contract’ or did you have a terms and conditions signed off by the client indicating that any unpaid invoices within a certain point of time would be forfeited if not settled in due course?

    My main concern would be that if you had not had this in writing, i am not sure you are entitled to just offload stock without ‘legal’ advice.

    I could be completely wrong… so i look forward to others input…

    Jason
    ps.. if unresponsive maybe a letter sent registered post advising that if bills not settled within 90 days that uncollected/unpaid stock will be forfeited and sold to cover any outstanding debts.

    Jason Ramage | Lucas Arthur Pty Ltd | E: [email protected]   P: 61 3 8324 0344    M: 61 412 244 888
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