hammerforged Posted February 6, 2013 Report Share Posted February 6, 2013 I truly do not know what to think at this point. I was approached about doing a very large order (30+ knives) for a company who wanted to reward their employees for reaching a safety milestone. I gave them a rock bottom price per knife with Laser engraving included. I had a letter of agreement and intent but did not ask for a deposit. Everything was spelled out as to delivery schedule and so forth. I ordered the steel and handle material and set to work, only to receive a note from another individual within the company that they had decided to go in another direction. Its not that I won't use the materials eventually but this was a huge outlay for inventory that will take me a year or 2 to utilize at a time when the funds could have better been used to upgrade some equipment and now with no payoff in the near future on the investment. Sorry for the rant but I needed to vent. I guess even having it in writing doesn't matter anymore. Quote Link to comment Share on other sites More sharing options...
Ravin R10 man Posted February 6, 2013 Report Share Posted February 6, 2013 (edited) Next time get a deposit...no money down you get screwed Hate to hear that... Edited February 6, 2013 by Mathews XT Man Quote Link to comment Share on other sites More sharing options...
redkneck Posted February 6, 2013 Report Share Posted February 6, 2013 I hate that Ross, bad for a company to conduct business like that, but not that uncommon. Maybe you'll get another sizable order soon to use up some material. Quote Link to comment Share on other sites More sharing options...
535hunter Posted February 6, 2013 Report Share Posted February 6, 2013 (edited) Hate to hear that. Put an add on here and offer the deal to people interested. That might help out. I'd be interested in getting one or a couple off of you since I've seen pictures of the work you do. I questioned about this my father in-law since he is a purchasing manager for a high dollar company. He said that a letter of intent is a binding contract and you could take action if you wanted. Either way you have the right to be more than upset about the situation. Edited February 6, 2013 by 535hunter Quote Link to comment Share on other sites More sharing options...
Ethan Givan Posted February 6, 2013 Report Share Posted February 6, 2013 Thats a tough situation for sure, too bad they backed out like that and left you hanging. Sounds like someone higher up in the company shot it down. I know of other situations where management in companies had made a decision to hire, create a new position, or make a large purchase and someone higher up on the corporate ladder pulls the plug. Not cool. Quote Link to comment Share on other sites More sharing options...
Adjam5 Posted February 6, 2013 Report Share Posted February 6, 2013 That does bite Ross. But live and learn I guess. Trust now a days goes only so far. Quote Link to comment Share on other sites More sharing options...
hoosierhunter Posted February 6, 2013 Report Share Posted February 6, 2013 I am at a loss?! If you have a written contract I would file suit against them. Don't feel bad, they sure didn't. Quote Link to comment Share on other sites More sharing options...
dbHunterNY Posted February 6, 2013 Report Share Posted February 6, 2013 sorry to hear it Ross. hope it didn't hurt you too bad financially. i'm serious about the scissors! only would buy them from you. Quote Link to comment Share on other sites More sharing options...
arrow32 Posted February 6, 2013 Report Share Posted February 6, 2013 I am at a loss?! Sorry to hear that man hate that. Hope it don't hurt you to bad Quote Link to comment Share on other sites More sharing options...
smha6784 Posted February 6, 2013 Report Share Posted February 6, 2013 I am at a loss?! I'd be willing to buy a couple, like the other guy said put a ad on here. Quote Link to comment Share on other sites More sharing options...
wtnhunt Posted February 6, 2013 Report Share Posted February 6, 2013 That is pretty rotten Ross. Seems there is no shortage of people out there these days that will not keep their word even with a contract. Guess whether or not to go after the company would depend on the cost/reward factor. Don't know if you would have to get an attorney or not, but they are costly and seems in many situations they are the only real winners in lawsuits. Things to consider for sure. Quote Link to comment Share on other sites More sharing options...
The Bug House Posted February 6, 2013 Report Share Posted February 6, 2013 Thats terrible. You may have a civil case and be able to recoup inventory cost. A LOI may indeed bind parties legally. Quote Link to comment Share on other sites More sharing options...
stevebeilgard Posted February 6, 2013 Report Share Posted February 6, 2013 ross, check out the small claims court maximums and just file yourself a small claims suit. with your written and signed contract, you are entitled to damages. since you can show products purchased for that contract, you are entitled to sell that entire stock to them as is and get your investment back. most of the time, they will not even show up in court and you just win and get the money back. go for it. Quote Link to comment Share on other sites More sharing options...
Husabud Posted February 6, 2013 Report Share Posted February 6, 2013 I may be interested in a couple too. Shoot me a PM with particulars and such. Sorry to hear someone backed out after you've put $$ upfront. Quote Link to comment Share on other sites More sharing options...
VermontHunter Posted February 6, 2013 Report Share Posted February 6, 2013 ross, check out the small claims court maximums and just file yourself a small claims suit. with your written and signed contract, you are entitled to damages. since you can show products purchased for that contract, you are entitled to sell that entire stock to them as is and get your investment back. most of the time, they will not even show up in court and you just win and get the money back. go for it. +1 You were wronged Ross, and that's just not acceptable , believe me if you did this to them you would have been served by now. It's worth a phone call to them and let them know of your finacial loss, and you expect some compensation. Quote Link to comment Share on other sites More sharing options...
archerjg Posted February 7, 2013 Report Share Posted February 7, 2013 Sorry to hear that. I might be interested in a knife or two as well. Hopefully you can recoop your money. Archerjg Quote Link to comment Share on other sites More sharing options...
hammerforged Posted February 7, 2013 Author Report Share Posted February 7, 2013 After further discussions with the individual who made the deal with me originally, it appears that I will at least be compensated for the cost of the materials. He was not happy at all with the way it went down and is not pleased at all with the direction the higher ups decided to go. According to him everyone on the committee was very excited at the prospect of getting something custom and useful for each of the employees who worked so hard to reach the safety milestone, instead they will be getting a plaque to hang in the breakroom with each employees name on it. I will PM those interested with the particulars on the knife I was going to make and will let you have them at the cost I quoted the company. Thanks everyone for your thoughts and support. Quote Link to comment Share on other sites More sharing options...
arrow32 Posted February 7, 2013 Report Share Posted February 7, 2013 Thats great that you will be made up for buying the stuff. Got to hate higher ups. Who the heck wants what there getting they might as well just keep there money doing that. Stupid. Quote Link to comment Share on other sites More sharing options...
Turkeygirl Posted February 7, 2013 Report Share Posted February 7, 2013 That's a shame...whowould not want one of your knives...geesh. Give me a PM and let me know what you are making...may be interested. Quote Link to comment Share on other sites More sharing options...
wtnhunt Posted February 7, 2013 Report Share Posted February 7, 2013 Glad to hear they are going to take care of you on the materials Ross. Too bad for those employees, sure they would rather have had one of your works of art than their names on some plaque. Quote Link to comment Share on other sites More sharing options...
MCH Posted February 7, 2013 Report Share Posted February 7, 2013 PM me as well Ross. I may be interested in purchasing a few for my tire company. Quote Link to comment Share on other sites More sharing options...
huntinsonovagun Posted February 9, 2013 Report Share Posted February 9, 2013 I am at a loss?! I'm interested as well. Shoot me a pm with what you're making and price. And as others have said (and now you obviously know) contracts are worthless without a deposit nowadays, unfortunately. Quote Link to comment Share on other sites More sharing options...
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