G'day,
This will be my last post on this thread for the time being, until sombody alerts me that they know where my instruments are or an offer of $ is made.
I would like to thank Finga for starting this and Nickstock for attracting my attention and to all the others who have helped Nickstock make a decision about what he shouldn't do.
The past few posts on this thread have been very constructive - dealing with the issue of security over deposits and progress payments. The reality is that custom boat builders need these $ to fund working capital in their businesses. They usually don't own the property they work from and therefore find it extremely difficult to borrow for working capital and to fund growth.
But, as I know only too well this exposes the buyer to a huge risk and the risk may not be just the solvency of the business as a trading entity. It could be a dispute between partners, extreme financial volatility, business failure by key suppliers, lots of things.
I suggest that these issues may be better explored and discussed in a new thread so that it attracts the attention of a wider and perhaps better skilled audience to come up with some solutions.
Thank you all for your support.
White Pointer