The new "rip-off" scam??

My question is whether it would be wise to enter into such an agreement at all. Not from a question of whether the company is going to make it or not, but from the point that we have no idea what pending legislation would do to such a deal if passed.
 
What many people don't understand is that under the Fair Credit Billing Act, you only have 60 days to dispute (in writing) a billing error from the date of first billing. A billing error would include charges for undelivered goods. The credit card company would be under no obligation under FCBA to charge back the merchant account.

So, as long as the buyer understands they are essentially loaning their money to this company without the benefit of a credit history or any collateral, then it's on the buyer, IMO. Just don't whine if you lose your money.
 
Apparently most agree the potential exists, there are businesses who do this legitimately with a good track record, but nobody will point out who they think it is?

We've got 23 posts and nobody has searched and recovered names of the OP's potential victimizers. That means everyone agrees - they don't want to be the one to out the company, either.

Since no illegal act has yet occurred, it's not chancy at all. Unfortunately, it takes the actual commission, and then conviction, to say somebody has been wronged. And since these things do happen correctly with some frequency, saying "these guys are planning to rip you off" has no credibility.

Not that they can't - there's just no possible way to tell. What we are dealing with is an interpretation of the circumstances and filtering it thru our experience to forecast a possible result. We all do this, all day long.

Like, if I sit here in my jammies typing much longer this morning, I AM going to hear about if from my wife. :)

Just for other side of the coin, we've got an year long window, if not more, of unanticipated demand, and plenty of incentive to make a profit. Any CNC shop of repute can machine uppers and lowers to spec - most of the receivers sold come from shops that don't forge. Even Colt buys finished receivers and doesn't do the work inhouse ( all you Colt fans need to wise up. ) If the platter forgers add a shift and get busy, there's plenty to go around for the next year, nobody is going to ignore the profit.

Just in time for all those pensions and banks to bail out, too. Oh well, their bad.

CNC isn't the hard part, the blueprints and tolerances are practically public knowledge. The programming isn't difficult, those folks capable are already hired. The shops have an incentive to fill the schedule and reduce down time. There's plenty of room to open up another line and make more receivers - which are going to sell. The QC is the critical issue, I don't see aerospace or turbine makers having any major difficulties. Me, I bought an AGP lower two years ago - same guys who make turbo kits for tuners.

Should you be cautious, yes. Are they going to rip you off? If nothing materializes, the credit card company stands the risk - duh - don't pay the bill until after delivery.

BTW, check and see if you get popped for the extra 4%. That is much more likely.
 
Should you be cautious, yes. Are they going to rip you off? If nothing materializes, the credit card company stands the risk - duh - don't pay the bill until after delivery.

We've been over this already - YOU are on the hook, not the credit card company, unless you find out you've been screwed early enough to file a complaint within 60 days of the date the credit card company mailed you the bill that included the charge for the deposit you put down.
 
Not sure if this is the same. I just went down this road with a Stock I just purchased. Was told by Company stock would be delivered by said date for my F-class first shoot. Stock did not ship. After 4 phone calls over a 3 week longer period and still not ship ,but card was charged. I called the legal agency. WHat i found out ( In Minnesota). Company can tale 1/2 of purchase price right away. Second half can be taken when item shippes. If item does not ship with in 7 to 10 days of taking rest of money,by law they have 3 to 5 days to credit back money or you can file a law suit against them.
 
But my question is whether there's a way to prepay that won't leave you holding the bag if the company never comes through with the goods?


Actually people do it all the time when they buy houses and really expensive cars. You are essentially using a "middle man". The call it escrow :cool:
 
Actually people do it all the time when they buy houses and really expensive cars. You are essentially using a "middle man". The call it escrow

If the vendor is willing to use an escrow service, I guess that would be an option. They might not agree to it, though, since one of the purposes for an up-front deposit is to provide the seller with working funds to buy materials to make your product, pay subcontractors, etc. They're not going to be able to do that if the deposit is tied up in escrow.
 
So you don't mention names or have any direct experience or knowledge that there is a problem, but you are proclaiming a problem?

HaHaHa.. Exactly, I totally agree!!! Everyone who currently sells them charges now if they are taking backorders.. So I guess everyone is a scammer in this guy's eyes.. LOL!!!

DASHZNT
 
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