Be Careful with Your Money $$$$

May 4, 2020

The WPMA has received a LOT of calls from members asking if we feel it was safe for them to ship completed orders to existing customers when the dust from the Covid 19 situation settles?   

In speaking with a lot of people they have been shipping some of these customers for over 15 years without problems.  What they are telling us is that their customers are stating that Yes, they have sent you an order, but the problem is that if their customer is back up and running they do not know when or if they will be able to pay for the goods.

One member received a notice from a very good customer that they would need payment terms changed to 2% 120 days.  The purchasing manager told them they would TRY to pay the invoice within 120 days.  

All we can recommend is that regardless of how good the customer has been in the past, you ask very specific questions on how and when you will be paid for something.  Remember, with the New Normal, an order is not an order until you are paid for it.  The next year will be very difficult for a lot of companies.