Not far off Stezza. When the firm I used to run supplied services to numerous large Telcos - going back 10 years now - they forced all their 'preferred' suppliers to accept 60 day payment terms and then always paid late. We found back then that 90 days was fairly typical but that was many years ago now. It used to drive me nuts as the GM of the business but there was bugger all we could do about it. It was obvious that they were doing it deliberately as company policy. They all had a usually unspoken aggressive attitude about it, very much "if you want to be one of our suppliers then you will cop it". Rarely any interest in talking about supplier partnerships etc, to them it was just a standard business management tactic.
BUT we did always get paid eventually. Interestingly, as many of them moved their Accounting functions over to Asia to lower their cost base we then found that occasionally we got duplicate payments and they never ever realised. We thought it was karma!
DUB Price at posting:
92.0¢ Sentiment: Buy Disclosure: Held
