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  • lazlo
    replied
    Originally posted by Mark K
    Here's one reasonably authoritative answer:

    http://www.treasury.gov/resource-cen...al-tender.aspx
    Interesting. I knew a retailer could set any policy for payment, but I didn't realize that if they accepted cash, they could legally deny pennies or $100 bills:
    "Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.
    For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations
    may refuse to accept large denomination currency (usually notes above $20) as a matter of policy."

    By the way Mark, how close are you to Austin? Drop me a PM...

    Leave a comment:


  • Mark K
    replied
    Here's one reasonably authoritative answer:

    http://www.treasury.gov/resource-cen...al-tender.aspx

    Mark

    Leave a comment:


  • Toolguy
    replied
    Cash

    That just means cash is ONE viable method of payment. It doesn't mean they HAVE to accept it.

    Leave a comment:


  • Jammer Six
    replied
    So, if I have that phrase printed on my checks, you have to take my checks?

    I don't think so.

    Nothing you're talking about has the force of law, or incurs any obligation.

    There's nothing magic about that phrase.

    Post your response from the treasury department, please.

    Leave a comment:


  • SGW
    replied
    No, I think currency HAS to be accepted for any existing debt...but a company can refuse to create the debt by refusing to sell to you if you are going to pay in cash. Maybe. I'm just guessing though.

    Maybe I'll write the Treasury Dept. and ask exactly what that sentence on the front of US currency means. ("This note is legal tender for all debts, public and private.")

    Leave a comment:


  • Jammer Six
    replied
    Originally posted by SGW
    Somebody made a comment a while ago regarding US money being "...legal tender for all debts, public and private." (See the front of any US currency.) How does that square with accepting only credit cards? Is it that a business can refuse to establish a "debt" if you're going to pay with cash? Could you create a "debt" by taking some merchandise, leaving cash on the counter, and walking out?
    Try that, and let us know how it went when you get out.

    Currency CAN be accepted for all depts... so on and so forth.

    There is certainly no requirement to do so.

    Leave a comment:


  • spope14
    replied
    Never had any minimum order price issues on walk in, but this is small town NH where walk in is also somewhat of a social visit. Almost everything I deal with on the internet is minimum order of $50.00 or more.

    Talk a bit back on this was about debit cards. I use debit cards for just about everything over $1.00 these days but for sodas, beers on the golf course and little goofy things , makes tracking of expenses easier and gives me an electronic reciept when I need reimbursements.

    Leave a comment:


  • aboard_epsilon
    replied
    Originally posted by Willy
    Not a chance.

    But I was definitely all stocked up on "get out of jail for free" cards.
    if the owner didnt spot you on the property ..did you not say anything...then chant out ha ha ha once off it with your next dice roll .

    all the best.markj

    Leave a comment:


  • Willy
    replied
    Originally posted by wierdscience
    I'll bet those same folks didn't offer you a comission on that account either did they?
    Not a chance.

    But I was definitely all stocked up on "get out of jail for free" cards.

    Leave a comment:


  • wierdscience
    replied
    Originally posted by Willy
    Everyone in the office looked looked at me as if I was an idiot,....stupid truck driver.
    I just told them I had just spent $2.00 on advertising and PR, suck it up.

    Fast forward 3 months, the guy is now one of our biggest clients with a monthly account that almost always exceeds $250,000!
    I'll bet those same folks didn't offer you a comission on that account either did they?

    Leave a comment:


  • Willy
    replied
    Originally Posted by wierdscience
    At work I will stop what I am doing,walk up front and wait on a customer for a $.10 sale.Many times if what they need is a small item,say a setscrew or cotter key I'll just give it to them.We lose money constantly doing this,but we keep doing it.

    Why?Because it's good business and even better PR.It builds customer loyalty and that builds a business.


    Originally Posted by Rural53
    The industrial supply place I use does this. If you walk in to buy one or two bolts or set screws they will say don't worry about paying.
    ..........

    A number of years ago while employed at a bulk petroleum plant, someone I had never seen before walked in just as I was on my way out, said he needed a small can of protective spray lubricant. I looked at him, saw his logging contractor's pickup outside, and took a gamble and tossed him a can.

    I was in a bit of a hurry when he asked how much, told him no charge and laughingly said that the next time he was in I'd charge him double for anything he bought. Everyone in the office looked looked at me as if I was an idiot,....stupid truck driver.
    I just told them I had just spent $2.00 on advertising and PR, suck it up.

    Fast forward 3 months, the guy is now one of our biggest clients with a monthly account that almost always exceeds $250,000!

    A little money spent on seed and fertilizer usually pays off in a good crop.

    Leave a comment:


  • Mad Scientist
    replied
    When I go to my local KBC and buy something I pay with a check and am given a copy of the receipt. Then a few days latter I get the "official" receipt in the mail.

    So obviously a minimum purchase is required to pay for the handling of this extra paper work.

    Leave a comment:


  • SGW
    replied
    McMaster-Carr remains my vendor of choice. No minimum, and reasonable shipping rates. I try not to abuse the "no minimum" though, and usually try to make at least a $25 order (generally not hard to do). I think overall the policy pays off for them. Because of their excellent service I got a friend of mine to order over $500 worth of steel cable and turnbuckles from them, and I recently ordered over $600 worth of aluminum stair treads. If they hadn't wanted my business on the small stuff I doubt they would have gotten those bigger orders.

    Somebody made a comment a while ago regarding US money being "...legal tender for all debts, public and private." (See the front of any US currency.) How does that square with accepting only credit cards? Is it that a business can refuse to establish a "debt" if you're going to pay with cash? Could you create a "debt" by taking some merchandise, leaving cash on the counter, and walking out?

    Leave a comment:


  • Rural53
    replied
    Originally posted by wierdscience
    At work I will stop what I am doing,walk up front and wait on a customer for a $.10 sale.Many times if what they need is a small item,say a setscrew or cotter key I'll just give it to them.We lose money constantly doing this,but we keep doing it.

    Why?Because it's good business and even better PR.It builds customer loyalty and that builds a business.
    The industrial supply place I use does this. If you walk in to buy one or two bolts or set screws they will say don't worry about paying. Anything more than 5 or 6 of something they will ring it up. I always use cash or EFTPOS never credit cards because I know it costs them.

    There are two branches of this business in town. The one near my office I try not to use as they have arrogant counter staff that rub me up the wrong way. I use the other branch that is close to where I used to live but is now, since I've moved house, about 10 minutes out of my way. I don't have an account but they always give me the trade rate.

    I haven't come across any industrial outlet that has a minimum purchase policy. As Willy said, you might be spending $4.00 today but tomorrow you might buy something for $650.

    I know I would never do business with a company again if they wouldn't sell me something because they had a minimum purchase policy.
    Last edited by Rural53; 05-14-2011, 05:42 AM.

    Leave a comment:


  • camdigger
    replied
    Originally posted by sasquatch
    Things must be GREAT in the economy.


    What kind of business ethics is that when one cannot walk into a store and pick up an item or two because the price is not over their minimum of $25.00?

    (I can understand this if it,s a phone order, or credit card order, but this was a small simple cash sale over the counter.)

    Anyone else ran into similar circumstances as this?
    I run up against minimum orders constantly.
    Although I am surrounded with industrial supply houses and material sources out here, sources for small quantites are quite limited (IMHO). Minimum order amounts range from $5 at one of the fastener places in Cowtown, to $500 or more at some of the steel yards. Some do not do business at all on a cash or pick up basis, you have to be incorporated and issue a PO after setting up an account. Remember comments I made in the load cell thread re O rings? They had exactly what I needed, but couldn't/wouldn't sell me less than a millenia or two (1000 - 2000 years) worth of stock if I'd just set up an industrial account and issue a P.O.
    To be fair, the place that gave me the most grief over order minimums offered free delivery (to a rural location), once I got to the next level as far as order size (IIRC, >$1000?). There are even some restaurants that have minimum check sizes (per person during lunch rush times, etc).

    Leave a comment:

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