All in a month's work (Published October 2007)
We often promote ourselves as offering transaction finance for the "difficult and unusual" because
we hope such adverts make interesting reading. But it is hard to find such a story every month
The last month has been characterised by the "pretty straightforward by comparison", which
is what most clients need of course. This is what we are doing for some of the clients we are starting
over a period of about 4 weeks
"Maybe that is why we have never lost a client we wanted to keep to a competitor for a
similar facility, in 16 years."
For Fluke Footwear, www.flukefootwear.co.uk, we buy designer ladies' shoes, made in China, for orders in the UK and Eire, but also purchase some additional stock covered by the order book. We are
repaid from the sales ledger assigned to us.- For Topcatt Bulldozers Ltd, www.weston-truck.co.uk, we buy earth moving equipment mostly from
China and the USA for their orders, payment to us on delivery. We occasionally buy a "snip" they have
found somewhere and are sure they can sell
- For Global S.T. our supplier undertaking (SU) buys on open account the Plasma and LCD TVs they
buy from Korea and China, in this case repaid by Factor 21 as their factor. It is a myth that LCs are normally
required to buy from China. They are occasionally of course, but we can usually offer much lower cost
solutions...
- As with CPL Packaging, www.cplpackaging.com, who design clever packaging products for many wellknown
customers, sourced in the Far East. We buy with SUs or DP from several suppliers, in this case repaid
by Close as their factor.
- Original Tools www.originaltools.com is a new Irish company who have some novel tools for carpenters,
some of their own design and some interesting products they have found like www.gorillagripper.com.
They ask us to buy them, from the USA, from Ireland and soon elsewhere. Here we are working with Celtic
ID in Dublin for Irish debts.
- At last the first few transactions on Fairfax Telecoms, of which more later.
That was a holiday month, but you may see what I mean. Nothing there is really "difficult or
unusual".
One day we will, but still not yet.
All is trade and transaction finance. All in a normal 30 days work!
Written by David Ross Director
Download
the Article "All in a month's work" at www.fairfaxgerrard.co.uk/docs/BusMon 1007 All in a month's work.pdf
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