Cheats and liars

[Lex]

" example....purchasing grain and not paying within the contracted time frame after delivery or even within two business weeks " THAT'S what i was referring to.

There are a LOT of companies out there working off our (farmers) money. Lots of grain buyers have terms of 15 days or more. This guy told me his terms were 15 days. He sent checks back with my driver and they bounced.

So even terms of 15 days means that company is using you as a bank and they cannot afford to buy your grain before they sell it. These guys should not be in businesd at all. They should line up their credit at the bank just like everybody else.

There are two solutions.
1) make a law to prevent swindlers and liars from ****ing farmers.

2) lets use social media to drive these guys out of business!

[farmaholic]

I figured Stonepicker's comment to my post was about me crying about paying for inputs in advance and the Industry using farmer's money months in advance of when the product is actually used. Aaaa... water off a duck's back.

People not getting paid.... another story all together. I suppose there are input suppliers that got left holding the bag at times as well. Mind you, not by the guys who "paid early", be it fertilizer, chemical, seed or fuel(either tax prebuys or securing cheaper product).

I don't know how people can consciously accept people's grain and not know if they can pay for it... There ought to be a law against that. Maybe the fellow who sung the praises of A/R insurance was on to something. If the Insurer won't even guarantee payment after the buyer is assessed.... steer clear!! Maybe the guy buying the grain should do the same(buy A/R insurance) OR somehow secure/guarantee payment before shipping so he doesn't jeopardize his and his customer's finances.

So, don't come down on me for also stating I've never had a problem and have dealt with more than a few special crops processors/buyers. Knock on wood.

Good luck with your dilemma, don't let up on the pressure. Maybe next time the fellow pays(or attempts)... insist on a manager's trust or certified check. Hard to believe the Buyer could be offended by such a suggestion given his track record with you.

Take care.

[Neemz]

I am an independent exporter from Canada. I Either pay cash at the time of delivery or if I have gotten an order from overseas I use banking L/C.

When I say payment terms are 15days its because of the rules of L/C from banks. It takes about 10 days for the grains to reach the container ship from SK to Vancouver port. So when my customers overseas have opened L/C for me from the bank I have to show the ocean bill of lading to the bank so bank pays me the full amount so I can pay my farmer. It takes few business day. As a farmer thats the only way you can trust your buyer to pay you in 15 days. Ask them to show the L/C paper from the bank. Otherwise they are working with your money which is not fair to the farmers.

Most of the overseas buyers pay in L/C. because its the safest way to trade between any country. Safest way for both buyer and seller as well.

It is always heartbreaking to get cheated on money wise. I feel you Lex and I hope you get your money asap.

[Lex]

Well it's going on a year now. I threatened to go to the police with the bounced checks. That squeezed an immediate payment of $3000 out of Vince Musgrave. Then he promised to clean up the account within two weeks. I did get another $3000 out of him since then but now he is not answering my calls again. From the original $100,000 I am down to under $20,000. I guess I should feel lucky. But now it is time to go to the police with the bounced checks and as for fraud charges to be laid.

His website is active. It looks like he is still in business.

http://musgraveseeds.com/

I don't know if he is near bankruptcy or if he is simply a cheat and a liar.

[farmaholic]

Thanks for the public reminder.

[Oliver88]

Website shows this business is based near the community of McCreary, Manitoba.
It is sickening to hear about farmers getting shafted by grain buyers.

It happens to often.