PROBATION DISCUSSIONS
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49 minutes ago, sacentaur said:

I am having the same problem (with a different boardie), a heavy-hitter in the Golden Age marketplace who continues to drop big money left and right in the GA Marketplace for months on end all the while ignoring my latest PM (after apologizing profusely for his late payment defaults).

So I share your frustration...

Harsh.

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59 minutes ago, TheFifthHorseman said:

I think it's a lesson for all of us.

I think as someone said in another thread, established guidelines for payments probably need to be discussed before the sale.

p.s. I'm way slow as a seller sometimes but I always keep open the lines of communication with updates, etc.

I'm super flexible in terms of expecting payment & time payments. I just need communication. Something.. tangible. Payments, whatever it is.

Just a simple message can go a long way.

Exactly - as a "hobby", sometimes I tend to be too lax with things and rarely it comes back to haunt me. Unfortunately this is one of those times.

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1 hour ago, TheFifthHorseman said:

I think it's a lesson for all of us.

I think as someone said in another thread, established guidelines for payments probably need to be discussed before the sale.

p.s. I'm way slow as a seller sometimes but I always keep open the lines of communication with updates, etc.

I'm super flexible in terms of expecting payment & time payments. I just need communication. Something.. tangible. Payments, whatever it is.

Just a simple message can go a long way.

I do wish buyers would be more disciplined about fulfilling time payment obligations, as I think "board credit" is a completely generous option on the part of the seller. If people continue to take advantage of time payment offers, then we will see less and less of them, and that is unfortunate for those of us who approach things honestly.

The key is to get things in writing. When is the down payment due? When is the monthly payment due? Is the deposit non-refundable? When will the book ship? What happens if I default? Questions like this are crucial. Spell things out for one another. Yes, parts of the deal may seem uncomfortable to talk about, but it's no different than discussing your debts and credit with any other loan officer. Follow through with what you say you are going to do.

...and if you have outstanding time payments, I say it's good etiquette to avoid buying more books until you are squared away. If you need credit that badly, bite the bullet and get a card.

 

 

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Maybe someone has a good suggested template to share?

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Posted (edited)
2 hours ago, skypinkblu said:

Maybe someone has a good suggested template to share?

This is long, but I think it covers all of the bases in a clear manner. Anyone is welcome to edit or offer improvements.

Here is my shot at a template of time payments:

 

Name and description of book:

Total "out the door" price including all fees related to the sale:

Name of seller:

Name of buyer:

Method of payments:

Payment information (PayPal address or mailing address):

Deposit required (Y/N):

Amount of deposit:

Due date of deposit:

Under which circumstance is the deposit or any part of the regular payments refundable?

Number and frequency of payments:

Amount of each payment:

Due date of each payment:

Anticipated shipment date upon completion of payments:

When is a payment considered late and what happens if the payments are not completed on time?

What happens if the buyer is unable or unwilling to complete the transaction?

What happens if the seller is unable or unwilling to complete the transaction?

Return policy:

Seller references:

Buyer references:

Date of agreement:

 

 

 

 

 

 

Edited by newshane

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12 hours ago, newshane said:

This is long, but I think it covers all of the bases in a clear manner. Anyone is welcome to edit or offer improvements.

Here is my shot at a template of time payments:

 

Name and description of book:

Total "out the door" price including all fees related to the sale:

Name of seller:

Name of buyer:

Method of payments:

Payment information (PayPal address or mailing address):

Deposit required (Y/N):

Amount of deposit:

Due date of deposit:

Under which circumstance is the deposit or any part of the regular payments refundable?

Number and frequency of payments:

Amount of each payment:

Due date of each payment:

Anticipated shipment date upon completion of payments:

When is a payment considered late and what happens if the payments are not completed on time?

What happens if the buyer is unable or unwilling to complete the transaction?

What happens if the seller is unable or unwilling to complete the transaction?

Return policy:

Seller references:

Buyer references:

Date of agreement:

The thinking is good, but whew. That looks exhausting to maintain and likely kind of scary to buyers.

Which is kind of the problem. Like Steve, I've always offered time payments in a friendly informal way here and never presented anyone with a bunch of rigid rules. It's that grey area that becomes the issue... when I've had trouble here receiving time pays it's almost never been total default, but more of a mission creep of slight delays that start to add up.

 

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20 minutes ago, Point Five said:

The thinking is good, but whew. That looks exhausting to maintain and likely kind of scary to buyers.

Which is kind of the problem. Like Steve, I've always offered time payments in a friendly informal way here and never presented anyone with a bunch of rigid rules. It's that grey area that becomes the issue... when I've had trouble here receiving time pays it's almost never been total default, but more of a mission creep of slight delays that start to add up.

 

It does kind of look scary and can be trimmed down, but almost all of the info is necessary stuff anyway, as well as being required by board rules.

 

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I have not done time payments here as a seller but on a few occasions I have taken advantage of time payments as a buyer.  I have always offered my request for the payments - frequency, amounts, etc. unless the seller has already outlined what they expect in the thread.  The few times I have bought on time payments, I have ended up paying off early.  

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8 hours ago, telerites said:

I have not done time payments here as a seller but on a few occasions I have taken advantage of time payments as a buyer.  I have always offered my request for the payments - frequency, amounts, etc. unless the seller has already outlined what they expect in the thread.  The few times I have bought on time payments, I have ended up paying off early.  

I've done that in the past, asked people to state how they are going to make the payments. I usually just give a time window when I want the payments completed. It usually works, sometimes not so much;) 

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18 hours ago, Point Five said:

The thinking is good, but whew. That looks exhausting to maintain and likely kind of scary to buyers.

Which is kind of the problem. Like Steve, I've always offered time payments in a friendly informal way here and never presented anyone with a bunch of rigid rules. It's that grey area that becomes the issue... when I've had trouble here receiving time pays it's almost never been total default, but more of a mission creep of slight delays that start to add up.

 

It is the unpleasant side of doing business but in the long run if expectations are set up front then there are less issues later.

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3 hours ago, GACollectibles said:

It is the unpleasant side of doing business but in the long run if expectations are set up front then there are less issues later.

Andy, my apologies for taking the 16 months on those Spawn #1 payments. In retrospect I let that drag on far too long.  :foryou:

 

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6 minutes ago, Point Five said:

Andy, my apologies for taking the 16 months on those Spawn #1 payments. In retrospect I let that drag on far too long.  :foryou:

 

And I am sorry that I let my cat pee on them before I shipped them out.

 

Ok, maybe not that sorry.

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8 minutes ago, GACollectibles said:

And I am sorry that I let my cat pee on them before I shipped them out.

 

Ok, maybe not that sorry.

Yeah, they are definitely 'qualified' 9.8s now.  :(

 

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Posted (edited)
37 minutes ago, Point Five said:

Yeah, they are definitely 'qualified' 9.8s now.  :(

 

They may get a Gold Label for Feline Sig Series. 

Edited by telerites

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So were the timing of payments not set in advance?

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On ‎7‎/‎28‎/‎2018 at 10:00 PM, wombat said:

So were the timing of payments not set in advance?

In my case they were set in advance, but what wasn't covered was what would happen if the buyer was late (which he was, months late). 

Anyway, as of last Saturday everything is back on track. :smile:

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On 7/25/2018 at 10:30 AM, Point Five said:

The thinking is good, but whew. That looks exhausting to maintain and likely kind of scary to buyers.

Which is kind of the problem. Like Steve, I've always offered time payments in a friendly informal way here and never presented anyone with a bunch of rigid rules. It's that grey area that becomes the issue... when I've had trouble here receiving time pays it's almost never been total default, but more of a mission creep of slight delays that start to add up.

 

The list is pretty long and detailed but whatever kind of time payment deal is agreed on it's best to have a date of completion and an agreement on what happens if the buyer fails to complete payments at an agreed time.

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When there are time payments does the book go to the buyer during the payments or only after they are done?

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I believe you don't usually get the book until it's paid for.

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8 hours ago, thehumantorch said:

The list is pretty long and detailed but whatever kind of time payment deal is agreed on it's best to have a date of completion and an agreement on what happens if the buyer fails to complete payments at an agreed time.

Are the terms of the refund of a deposit mandated by state or federal law?  Do any lawyers want to weigh in on whether a contract overrides said laws?

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