paulthenumbersg
Level 1
03-23-2023
03:19 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Client purchased asset to be built to specifications. Vendor filed for bankruptcy. Asset not received and ruled a loss by the court.
Labels
itonewbie
Level 15
03-23-2023
03:52 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The vendor defaulted on the contract to deliver the machine. If the T&C's call for the money to be refunded but it has been established that no money was to be returned as a result of bankruptcy, that sounds like a business bad debt to me.
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar
