Accounts without contracts

[ThankYouComeAgain]

Can someone tell me if they still do business the old way where you have handshake agreements?  I'd like to know if anyone used to do this and no longer proceed in this manner and why that is.

I may be on the verge of a large account in which I am offering them a no contract basis for various reasons.  I'm not here to get flamed but rather educated on the pros and cons from your experience(s).  Thanks in advance.

"Thank you, come again!"

[will.vend]

are you asking about bulk or full line? I am 100% bulk and have no contracts in place, there are locations I have that I would feel more comfortable with a written agreement but for the most part my locations are just fine with a verbal agreement. But I have a feeling you are asking about full line. IMO full line accounts would have more reasons for a written agreement than bulk.

BTW welcome to the forum there is a wealth of knowledge in the old threads that will answer alot of your questions.

[alboy88]

i do bulk and full line vending  i have never  had a contract with anyone  and ive done this for 7 years, now if they start with commisson talk then i tell them prices will go up in order to

cover their money  . i  always work  on a handshake  and  try to give the best customer service to all my accounts

[ThankYouComeAgain]

Ok, let's start at square one.  I have experience, I just don't have the lingo.

What is bulk, what is full line, and "who's your daddy and what does he do?"

Thanks for the welcome and answers too, btw.

[mission vending]

I prefer doing business on a handshake as well but in today's world it simply is more and more difficult to do so for many different reasons

I usually don't do contracts, however I do always use a written one page "service agreement" in which the location acknowledges my ownership of the equipment, the equipment to be installed and serial numbers.

This has served me well in recovering equipment from locations that suddenly close their doors and you are dealing with a property manager to get your stuff back.

I also include commission % if any and payment terms (monthly, quarterly) and anything else out of the ordinary that might be forgotten over time.

Over the last few years I have reevaluated the need for true contracts and will use them on occasion. The instances where I use them are when I am buying equipment to go into a location. Also when doing business with a local branch of a larger corporation it has proven to be helpful when new management  enters the picture.

[will.vend]

Ok, let's start at square one.  I have experience, I just don't have the lingo.

What is bulk, what is full line, and "who's your daddy and what does he do?"

Thanks for the welcome and answers too, btw.

bulk is the term used for toy/candy vending and full line is drink/snack machines, Im sure there is a more specific explanation but that's it for the most part.

[ThankYouComeAgain]

mission, thank you for your post, I'll proceed in like manner if I score this account.

Thanks for the definition.

Thank you everyone.

[T BIRD]

I prefer doing business on a handshake as well but in today's world it simply is more and more difficult to do so for many different reasons

I usually don't do contracts, however I do always use a written one page "service agreement" in which the location acknowledges my ownership of the equipment, the equipment to be installed and serial numbers.

This has served me well in recovering equipment from locations that suddenly close their doors and you are dealing with a property manager to get your stuff back.

I also include commission % if any and payment terms (monthly, quarterly) and anything else out of the ordinary that might be forgotten over time.

Over the last few years I have reevaluated the need for true contracts and will use them on occasion. The instances where I use them are when I am buying equipment to go into a location. Also when doing business with a local branch of a larger corporation it has proven to be helpful when new management  enters the picture.

The payment of commissions quarterly is interesting to me.  I do mom and pop stores mainly.  I could not see being able pay this type of location 4 times a year.  now if I had contracted with a number of  box stores or supermarket chains, I would think that paying them quarterly is acceptable.  Right?

[mission vending]

I try to get them on a quarterly payment if the monthly amount is less than $50.00. Just being lazy and trying not to get writers cramps drafting those checks. ;D No other reason.