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Buying equipment over the phone

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  • Buying equipment over the phone

    Hey I am buying some equipment from a listing I found on nabs. I have never seen but tons of photo representing it to be in good condition. We pretty much have a verbal agreement and thats it. My next step is to direct deposit my money into his account but I have nothing besides some emails saying he is going to deliver it.
    Is this normal? I was going to have him fax me a bill of sale.

  • #2
    Get a detailed list of equipment components as they will be packed. Get it in writing that it is in good working order. If this is part of the deal (that the gizmo works) try something like this: 30% down, 60% on delivery and an ILC (irrevocable letter of credit) for the balance after some suitable time frame for installation/testing/balancing/repair.

    Depends on your situation, I guess (ie how desparately you need the gizmo).

    Is there anyone you can send locally to inspect the gizmo for you? You should post what it is and where it is currently. You might be surprised by some helpful offers.

    Best of luck.


    Liam McKenna


    • #3

      Get yourself a plane ticket and go view the equipment in person. Never transfer the money without first viewing and documenting the equipment, Vs the listed units. If you do not view the equipment in person and you get 'the shaft' on missing items, do not bore us with your frustrations after.


      • #4
        On the other hand...

        A physical visit isn't always practical. Of course it's always better to see the equipment, but then again, unless you hydro a tank you won't know whether it holds pressure. I buy stuff all the time sight unseen. Lots of stuff. If you do business with reputable companies (and ABT is one), then I don't see a problem. Be very specific about what you expect, detail it in writing, and go for it.
        Phillip Kelm--Palau Brewing Company Manager--


        • #5
          I would suggest seeing the equipment in person if economically justifiable and logistically practical.

          That said, I recently concluded some business with Ian at NABS and wouldn't hesitate to deal with him again.


          • #6
            a solution

            Another good solution is to put the money into an escrow account that can be released upon inspection of the equipment.

            NABS has a good reputation for the most part. But I would not simply fire money into anyone's bank account. Escrow is a good solution because it deals with contracted and verified goods and money. Cross-border collections can be difficult for a supplier and impossible for the little guy.