News You Can Use
How Many Licks Will It Take. . . ? 
By Vin Ayden,  PICB Senior Risk Manager

The slogan of a vintage 1980's television ad applies not only to candy, but also to inadequate due diligence that may result in your company being licked!
 
Click here  to read more.
  Ask An Attorney
When Is It Time to Give Up the Fight?

This month's question is submitted by Jim Ragatz, Accounting Manager, Midstates, Inc. Print & Media Solutions of Aberdeen, South Dakota.

 

"For any of our potential customers that are requesting payments terms other than cash or credit card, we ask them to fill out a credit application. On that application, we have wording that indicates a personal guarantee. Often, our customers will send their application back to us with 'See Attached' written on it and accompanying documents that contain the information that we requested on the credit application. Our application is sometimes signed, but sometimes it is not signed. My question is whether or not we have a binding agreement (including the personal guarantee) if we do not have their signature on our application but we do have their submitted company information on their form."


Click here to view responses from our attorneys.
 
Submit your questions to our network of lawyers for expert advice at info@picb-us.com.  If your question is chosen, your company will receive a free Due Diligence Report (a $50 value)!
  Let's Get Real
We can't resist jumping on reality show bandwagon.  Periodically we will cover the month's highs and lows during the course of our work for American printing companies. 

High - In October, we processed 40 Due Diligence Reports for PIA affiliate members. The majority of reports were rated average risk!  

Low - Amazingly, one firm received a 
score of negative 10!  This potential customer seeking credit had six civil lawsuits filed against them within 18 months by its vendors, several who were secured lien holders. Records indicated the customer had a recent eviction and its supposed new address is suspicious. Their references are owed six figures in aging debt. Its phone was a non-published VoIP, and no Federal EIN was located under the corporate name. 
How much money did the printer save by spending $50 for a due diligence report? The average debt as provided by the references is $54,000!
  Dewey Chi'ting
Take a moment to enjoy this month's installment in the continuing saga of Dewey Chi'ting & Andreality (Fairy Godmother of Credit Wisdom)! 
 
  

Original Artwork by Marc. Art, Inc. mob5948@aol.com
  Next Steps . . .

Give your company the maximum benefit by using the resources and services of PICB today!


Collection Services:  PICB is the Graphic Art Industry's dedicated credit and collection agency. We've gained the trust of printers over 35 years of helping them get paid by slow and non-paying customers. Our rates are below industry averages, yet our results are superior.

Resources:  PICB's web portal to government websites provides real-time, free information that can be helpful in determining a customer's stability or viability. These sites provide users an ability to verify 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 compiled the old-fashioned way with hands-on, extensive research using 21st century tools.

Riskee Business Reports:  
PICB's free service provides unlimited access to our extensive database, so you may determine if a potential customer is already known to PICB.

Questions?  Call us any time at (847) 265-0400.
Thanks for reading this month's edition!  Feel free to forward this to others at your company. 

 

Printing Industry Credit Bureau 
(847) 265-0400
In This Issue
News You Can Use
Ask an Attorney
Let's Get Real
Dewey
Kredit Karma
Quick Links  
Your Staff at 
Printing Industry
 Credit Bureau

Andrea Schlack 
President

 Dennis Adams

Vice President
Collections Manager

 

Vin Ayden, 

Senior Risk Manager   Email Vin

 

Dan Comer

Office Administrator

  Email Dan

 

 

 

KREDITKARMA

DON'T GET BITTEN TWICE!

 

Uncollected Judgments for November 2013. 

Click here

to view list.

 

 

ASSOCIATED AIR PRODUCTS

FL

 

BERG PRINTING ENTERPRISES LLC DBA MASTERPRINT

WI

 

BLUE INK

IL

 

CHRISTOPHER NICHOLAS CAMPOS D/B/A CAMPOS SCHOOL PORTRAITS

AZ

 

CMY&K ADVERTISING

 NY

 

DALE JASLOVE IND D/B/A HEALTHCARE CONSTRUCTION

 MI

 

DIRECT MEDIA MARKETING INC.  

NE

 

EL SOL NEWSPAPER

IL

 

EMERY LITHO OF NASSAU LLC

NY

 

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

 NJ

 

FIRST FRUITS BEVERAGE COMPANY 

VA

 

PHILIP BASILE D/B/A MINK INC

NJ 

 

REACH MARKETING SOLUTIONS LLC

GA

 

RICK VETKOS DBA
BELTONE OREGON
OR

RODD MURPHY DBA
RODD MURPHY & ASSOCIATES
NY

RON CARTER DBA
SOUTH STREET JOURNAL
IL

RUMORS ON GRAND INC. A DISSOLVED CORP & KATHLEEN M VOGT AKA KATHLEEN TEWS
IL

SANDESH PUBLICATIONS, INC.
IL

SEARCH 1 AMERICA F/K/A LUX PREMIER LUX PUBLICATIONS LLC DBA LUX PREMIER
IN