I am a distributor for an orthopedic company. How to return stocks worth USD100 k if i want to discontinue.?

Question

I HAVE INVESTED $100 K AND FIND THE BUSINESS IS VERY RISKY AS THE SALES DEPEND ON THE COMPANY ACTIVITY AND THE LOCAL REPRESENTATION. THE COMPANY DO NOT SHOW PRIORITY FOR THE AREA I AM OPERATING. HENCE I AM PLANNING TO GET OUT OF THE COMPANY DISTRIBUTION. IT WILL TAKE MORE THAN 6 MONTHS TO GET BACK THE MONEY. I HAVE BORROWED THE MONEY AND THE DELAY WILL COST ME A LOT. IN THIS SITUATION I NEED GUIDANCE TO APPROACH THE COMPANY AND GET MY MONEY AT THE EARLIEST.

Answer 1

As I have worked for more than 15 years in reputed diagnostic equipment marketing company, I can suggest you to go with the disputed company in a very polished way.

You better write a letter to the company about the problems that you are facing here.  Remember to write the letter to the top most person, if possible by mentioning his/her name.  You seek his help liquidating and pretend as if, you want to continue with them.

If you are already in trouble with the company, then request them to take the materials back, and again by letter.  You don't book it in any transport, if they ask for.  As they may claim, the box was empty or it contained something of no value when it reached them.  Insist their personel to visit your office and take the material back.  While materials are being taken back, during the presence of officials of the company at your premises, make calls to the HO through your mobile phone and talk to his/her higher authority - Only at HO, also send a confirmation telegram by specifying the contents and quantity that the materials are taken back.  Because after the materials are taken back, the company may claim the person took the material is no more with them.

If they refuse to take the material sending their person, the other legal alternative is by taking a Notary certificate of the contents of the box and then booking it in a transport.  If the products are temparature sensitive, keep that in mind before booking the consignment.

Best other option is surrender to a known ortho and tell you condition, show the bill and if the quality is acceptable, he may help you.  Are go to Niniappa Naicken Street and talk to few marwaries - reliable??? As you have entered this field, I hope you worked for some company in the similar one.

If quality is poor, just lodge a complaint with the local drug authority.  Remember other than opproaching the ortho or marwari all other will take atleast 2 to 3 months to realise the money.

Answer 2

It appears that you didn't undertake the due diligence before starting the activity. On the face of it, now it would be wise to consult a commercial-legal professional for guidance and needful action.

Answer 3

If you are already in trouble with the company, then request them to take the materials back, and again by letter. You don't book it in any transport, if they ask for. As they may claim, the box was empty or it contained something of no value when it reached them. Insist their personel to visit your office and take the material back. While materials are being taken back, during the presence of officials of the company at your premises, make calls to the HO through your mobile phone and talk to his/her higher authority - Only at HO, also send a confirmation telegram by specifying the contents and quantity that the materials are taken back. Because after the materials are taken back, the company may claim the person took the material is no more with them.

Answer 4

All  business is very risky. Instead of being a problem be a solution. What can YOU do to make the company better and to make your investment pay for itself. Sounds like you are not committed. Step back and look at the situation again. Find a solution. Set new goals. Talk to the company. You will lose in the long run if you get out now. It is like buying a new car. You pay $30,000.00 for one......drive it out onto the street and already it is worth only $20,000.00.

Next time you do a business adventure.....do your homework.  A company is only as good as it's investor and that investor is YOU.