***PICB*** PRINTING INDUSTRY CREDIT BUREAU ***PICB***
WHERE'S THE MONEY?
PICB'S PERIODICAL DEDICATED TO MAINTAINING PROFITABILITY IN THE GRAPHIC ART INDUSTRY THROUGH GOOD CREDIT POLICIES
PRINTING INDUSTRY CREDIT BUREAU 
(847) 265-0400
ISSUE # 9
JULY 2012
CREDIT TIP LOGO

Did you know that good credit managers prevent financial losses attributed to unstable, high risk, slow-paying or no-paying customers by employing many of the same skills used by seasoned sailors. Both understand the importance of charting a safe course to ensure against loss or damage, while also respecting that profit is dependent upon successfully navigating tough seas. They each confront bad weather with equal force, and find stormy seas challenging, but never sufficient cause to concede defeat. They do what is necessary to achieve their goal.

 

Gilligan and the Skipper beached the SS Minnow while trying to outrun a storm they knew was coming before having left shore. They relied upon HOPE to make it back safely but became castaways instead:  HOPE did not prevent them from getting lost for years.

 

Hoping for timely payment is like sailing into a storm's path, both leave you exposed to unnecessary risk. In a recent collection case a printer decided to grant credit terms to an up and coming entrepreneur who made assurances that his business was well funded and stable. Instead of checking the facts before his money jumped ship, the printer produced several jobs hoping his trust had not been misplaced. Sadly the printer suffered substantial losses when it was determined that his customer told fish tales. His so-called business was unlicensed and unregistered. This little minnow gave the  University's post office as the business address and was in fact operating from a dorm room. The printer's profits now lie in Davey Jones' locker.

 

Ahab, the foolishly stubborn captain hell bent on destroying Moby Dick, no matter the cost, relied upon SELFISH OBSESSION to satisfy his single minded, compulsive goal. Despite all the warnings of pending doom: He perished.

 

Misdirected obsession leads to predictable disasters. Another printer, seeking his own whale with head strong determination, found himself blinded by the potential profit that thought would never be made. He never realized the consequences of failure should his course be wrong, nor had he done any fact checking about his new 'partner'. Had he done so, his due diligence would have revealed the many bones scattering the bottom of the sea courtesy of his Whale, who has yet to be harpooned, and unfortunately the printer's business now resides with 'The Piquad'.

 

Capt. Peter 'Wrong Way' Peachfuzz , an incompetent sailor did not believe in using a compass when navigating the seas and instead relied upon GOOD LUCK for charting  his course: Capt Wrong-Way was always lost.

 

Relying exclusively upon luck is like chasing Black Beard's gold: you may find a few trinkets to keep you engaged, but LUCK is not a good business strategy for creating cash flow. A local printer could not believe his good fortune in a recently acquired customer whom he believed would help turn the tide of his slumping sales. The printer's joy had been buoyed by the customer's prompt payment at the onset but then failed to change course when payments ceased. The customer's non-payment became the printer's albatross and when he finally issued a mayday it was already too late to save the ship. The printer's 'lucky' customer was a pirate in disguise who had been sued many times by vendors seeking millions in unpaid debts. Had the printer cast off this customer before weighing anchor the printer would not have had to abandon ship.

 

DON'T GET BEACHED BY NON-PAYING CUSTOMERS

PRINTING INDUSTRY CREDIT BUREAU CAN CHART A GOOD COURSE

 

RESOURCES: PICB's web portal to government websites that provide real-time, free information such as business registrations, civil records, lien information and much more.

 

DUE DILIGENCE REPORTS: When you don't have the time to review the information provided by the customer PICB will do it for you. Our reports are done the old fashion way of 'hands on' extensive research while using the 21st century tools to maximize results.

 

RISKEE BUSINESS: PICB's free tool that allows our clients and members of the PIA family unlimited 24/7 access into our database to determine if a potential customer was ever placed for collection with our firm.

 

COLLECTION SERVICES: PICB provides quality collection services at affordable rates and is dedicated to the Graphic Art Industry.

 

For more information visit us on the web at www.picb-us.com or contact us at (847)265-0400

 

DEWEY CHI'TING
LARSON  NY
     JULY CARTOON
ORIGINAL ARTWORK BY MARC.ART, INC.
mob5948@aol.com 
 
ASK AN ATTORNEY

 

Q:  Are electronic signatures legally acceptable, and if so, what is your best advice on how to implement obtaining a proper electronic signature to our quotes, credit agreements, and other similar documents? 
 
 
A: The decision on whether to accept electronic signatures is a State specific item.  Under New York's Technology Law section 304: "...
unless specifically provided otherwise by law, an electronic signature may be used by a person in lieu of a signature affixed by hand. The use of an electronic signature shall have the same validity and effect as the use of a signature affixed by hand."

 

There is no need to fuss about electronic signatures.  New York courts will accept a facsimile version of most items submitted by the party to be held accountable under the contract, in lieu of an original signature, if that was the regular and usual business practice between the parties.
 

 

Elliot M. Portman
R.T.T. & Portman LLP
Bohemia, NY

 

A: An electronic filing is used by many of the Wisconsin courts on legal pleadings. Therefore, it is clearly legally acceptable and enforceable. The question is how to best protect yourself against claims later on that the other party did not sign the documents. 

 

First of all I think that the quote, credit agreement, or other similar document should have a provision that electronic signatures are acceptable and enforceable and will be presumed to be correct. In addition to the signature line there should be a line for the person who  is signing it to include their position with the company. Also, I think it would be helpful to have a line for a witness or some other verification included that client could look to if there was some sort of dispute. I think the practice of an immediate response to the electronic signature indicating that it has been received, and that you are proceeding immediately with the request based upon that signature, would be very helpful. If client has access to more than one e-mail or other address to send that response to, I suggest that they also use multiple responses. 

 

In today's world there will be more and more use of electronic signatures. Disputes will arise claiming that the electronic signature is not valid or the party involved did not have authority to sign the contract, but that is no different than the claims that parties face today regarding the claims of forged signatures and signatures by parties that do not have the authority to sign documents. Sometimes you will be dealing with potential customers that are ethically challenged and those cases will have to be dealt with whether you have documents with electronic signatures or traditional signatures. 

 

William A. Rinehart

Rinehart, Scaffidi & Mathews

Milwaukee WI

 

In This Issue
CREDIT TIPS
DEWEY CHI'TING
ASK AN ATTORNEY
KREDIT KARMA
Quick Links  

PRINTING INDUSTRY CREDIT BUREAU CONTACT INFO: 


ANDREA SCHLACK
PRESIDENT
andreas@picb-us.com

 

DENNIS ADAMS
VICE-PRESIDENT
COLLECTIONS MANAGER
dennisa@picb-us.com

 

RICK CRUZ
CHIEF RESEARCH 
OFFICER
rickc@picb-us.com

JANET DIENES
GENERAL MANAGER
janetd@picb-us.com

 

ROBBIE BURCH

DIRECTOR OF SALES AND SERVICE

robbieb@picb-us.com

 

KREDITKARMA

DON'T GET BITTEN TWICE

 ******************

UNCOLLECTED

JUDGMENTS JULY 2012

FOR A COMPLETE LIST

GO TO 

www.picb-us.com

  

ANDREW EPERI, INDIVIDUALLY AND D/B/A AFRIQUE IL

 

ALEX FINO D/B/ASF TRANSPORT SERVICES PA


ASSOCIATED AIR PRODUCTS

 FL


BERG PRINTING ENTERPRISES, LLC D/B/A MASTERPRINT

WI  

BLUE INK

 IL


CCMP D/B/A BERYLMARTIN
IN


CMY&K ADVERTISING

 NY


CMY&K PUBLISHING

 NY


DALE JASLOVE IND D/B/A HEALTHCARE CONSTRUCTION

 MI

 

FRANK FINOCCHIARO INDIVIDUALLY & T/A LBT SYSTEMS & LBT SYSTEMS INC.

 NJ


HI INDIA, INC.,

 IL


HIGHER STANDARD ENTERPRISES INC D/B/A I TOUCH PUBLIISHERS.COM
NC


HIP HOP WEEKLY
ENTERTAINMENT, INC
FL


HOME VIDEO STUDIO INC IN


HOMETOWN HEATING & COOLING INC AND RICHARD E FOX INDIVIDUALLY

 NY


INDIAN HILL SYSTEM INC AN IL CORP AND ROBERT KELLY D/B/A
IL


JILL MORGENTHALER FOR CONGRESS
IL


JIM WEEMS D/B/A
J PRINT SERVICES
ID

JOSEPH D RINDER INDIVIDUALLY AND D/B/A BELTONE HEARING AID CENTER

 NJ


KARRY MATHESON INDIVIDUALLY AND D/B/A MATHESON CUSTOM PRINT

UT


KENMAR STATIONARY

 NY


KRISTYS MOORE A/K/A KRISTYS WAGGONER D/B/A ORION PUBLISHING
CA


LESTER BAFIA INDIVIDUALLY AND D MEGA FORCE PRODUCTIONS, INC

 IL


LISA DOTE INDIVIDUALLY AND D/B/A G GRAPHICS AND D/B/A PRINT THIS

 IL

 

NORTHWEST BINDERY INC
MN


NEW YORK FURNITURE GALLERY, INC.

NY


PET ENTHUSIAST PUBLICATIONS INC
NE


PHILIP D CHRIST D/B/A GREAT IDEAS
NY


PHILIP BASILE D/B/A P&M GRAPHICS
NJ


PHILIP BASILE D/B/A MINK INC
NJ


PINATA GRAPHICS

 IL

 

 

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THIS MONTHS QUESTION COMES FROM JILL MOEDE FROM ROYLE PRINT
 
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