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3 Steps To Keeping A Customer For Life
The relationship between a customer and your company is more complicated than it appears. It's not a simple matter of the customer handing over some money in return for a product or service. Certain conditions have to be met before the customer...
A Customer For Life
One way is to accept barter offers for your product. Maybe the person can't afford to buy your product. They may have something you could use in your business or personal life. If the barter deal isn't fair enough, either of you could add in some...
Customer Service DELIVERY
If you want to go to the top of the league in customer service,
then you need all your customer-serving staff to practise the 8
features of service D-E-L-I-V-E-R-Y.
D for Dedicated. Dedicated service delivery swings into action
the minute a...
Online Credit Card Application: The Easiest Way To A Customer's Heart
Many credit cards are offered in the market today thus, making
companies more aggressive in advertising and marketing their
card services. These companies (e.g. banks, department stores,
specialty stores, airlines, hotels, etc.) have found a...
Tips for Curing Bad Customer Service
Bad customer service is everywhere these days — unmanned front desks, surly servers, clueless staff, employees talking on the phone, and managers who refuse to acknowledge a customer. It’s no longer an exception ... poor service has become the...
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Warning - This Lease Might Explode Any Minute
Mike Caringi, owner of a small New Jersey business that sells pumps, found himself facing a gut-wrenching dilemma last summer. Should he continue paying $ 1,500 each month for essential telecommunications services he no longer receives and for leased equipment he claims was never installed? Or, should he stop making payments and face a potential lawsuit from the firm that financed the equipment under a ‘hell or high water’ lease? Mr. Caringi’s company is one of several thousand small companies around the country reeling from the bankruptcy of Norvergence, a reseller of telecommunications and Internet services. At the core of the quagmire facing Mr. Caringi and others is that Norvergence succeeded in getting customers to sign separate lease and service contracts that provided its services. When Norvergence abruptly shut its doors, it left thousands of its customers scrambling to replace telephone and Internet services while obligated to shell out over $ 200 million in lease payments to Wells Fargo Financial, CIT and 30 other leasing companies over the next five years.
How can you protect your company from being victimized in a similar situation? Certainly, most transactions involving equipment leased in connection with a related service carry some degree of risk. You can reduce that risk by taking certain precautions. First, where possible, avoid leasing equipment when the equipment is proprietary to a service. The chances are that you will be stuck with the equipment if the service provider fails. Make sure that the leased equipment has an underlying value that justifies the lease. By doing a present value calculation of all payments owed under the lease agreement and comparing that value to the fair market value of the equipment, you can see whether the lease value is reasonable. Check to see whether the equipment is used by other similar service providers, in case a switch in service
becomes necessary. Finally, make sure the equipment you will be leasing can be sold in the after-market. As a last resort, you may be able to cut your losses by having the ability to buy-out the equipment from the lessor to be resold to someone else.
Perhaps, one of the best protections in signing up for a service requiring leased equipment is to thoroughly evaluate the service provider before proceeding. Make sure the service provider is financially sound and has a long track record of providing excellent service. If possible, ask for and review financial information on the service provider. Do an Internet news search to make sure there are no troubling stories about the service provider. Be partial to services that offer equipment under contracts that tie service and use of the equipment together, such that your obligation to pay is conditioned on the service being provided. Lastly, since these transactions always carry some risk, make sure that an abrupt interruption in the service will not have a material negative impact on your company or cause a financial hardship.
George Parker is a Director and Executive Vice President of Leasing Technologies International, Inc. (“LTI”), responsible for LTI’s marketing and financing efforts. A co-founder of LTI, Mr. Parker has been involved in secured lending and equipment financing for over twenty years. Mr. Parker is an industry leader, frequent panelist and author of several articles pertaining to equipment financing.
Headquartered in Wilton, CT, LTI is a leasing firm specializing nationally in direct equipment financing and vendor leasing programs for emerging growth and later-stage, venture capital backed companies. More information about LTI is available at: www.ltileasing.com.
gpmail129-groups@yahoo.com
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ICS: Institute of Customer Service |
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azcentral.com faq - Welcome to the azcentral.com help center where you can find answers to azcentral.com and Arizona Republic customer service questions. |
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Email Us Send us an email and we will respond to you within 24 hours. Call Us Toll Free 1-877-809-1659 Customer Service Hours ... |
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Provides how-to information, gifts and decorations for successful Customer Service Week celebrations. |
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Customer Service from FLORIDA TODAY |
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https://secure.customersvc.com/ servlet/Show?WESPAGE=mo/home.html&MSRSMAG=MO - Similar pages |
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Customer Service – 8 Rules For Good Customer Service |
Good customer service is the lifeblood of any business. You can bring in as many new customers as you want, but unless you can get some of those customers ... |
sbinfocanada.about.com |
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Help | IndyStar.com |
Customer Service • Terms of Service • Send feedback about IndyStar.com • Subscribe Now • Jobs with us. Use of this site signifies your agreement to the ... |
www.indystar.com |
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