So I am looking at getting a number with JBT due to some vendors
needing that info. Anything I should know about this, and is it all
that great, etc.?
Thanks!
Britten
Personally, JBT proved to be a hassle for me. Its okay to be listed,
but being rated was a whole other story. I was very well rated, and
every salseman that passed thru my town, would look in their book and
see that I was well rated for credit, and of course , they would stop
in, unscheduled, to sell me something. Alot of days, I would have as
many as 5-7 sales reps come in, besides the reps that I regularly did
business with. And , like any good salesman should be, they were very
good at not taking no for an answer. Just the time it took to tell
them all no was a major time waster. Unless you have a major barrier
between you and and them, like several good employees, JBT may prove
to be more than you bargained for. I personally cannot afford to
spend the time necessary to handle them all. Besides, most vendors
are only looking for credit references, especially references within
their product line. Even personal credit references are useful. If
your personal refs aren’t that sparkly, you probably have no business
getting trade credit anyway. Build your credit history by starting
with someone who will give you a small credit line, then another, and
another. Any vendor who insists on a JBT # to do business with you is
probably not the ones that a newby should be dealing with. There are
loads of good companies, with quality lines, that are more than happy
to work with a newby.
In addition, they always wanted me to fill out financial papers in
December, when I didn’t even have time to #%@*. That never made alot
of sense to me, since they are part of an industry that lives and
dies by the December figures. They should fully understand where our
priorities lay in that month , especially.
Ed in Kokomo
Britten,
If you’re looking to develop credit accounts in the trade, a JBT
number and a good rating will open doors for you. Some salespeople
use JBT’s book to solicit their product. If you don’t want
salespeople showing up at your door you can request that they not
list you in the book.
But, if you go that route you will have trouble with those who only
use the book. For example, every year I go to the Tucson AGTA show
I have to bring invoices and business because I’m not
listed in the book. If they called JBT they’d find my number, but
they only go by what’s actually in the book.
The initial paperwork that they make you file is somewhat
intimidating, but the reps at JBT have always been quite helpful
and professional to me. Good luck.
Larry Seiger
Dear Britten,
From this small vendor’s point of view, it is nice to see a company
or client listed in the JBT when sending out memos. However not all
vendors have access to JBT since it costs a good sum of
money to receive. It is equally or even more confidence inspiring to
receive the names of a few mutally known references who will verify a
persons integrity. If someone calls me and wants goods on memo it is
very helpful if they know some other gem dealers that I know. For me
in my business, credit card guarranties also work for memos in the
absence of personal references or JBT listings .
Regards, Steve Green / Rough and Ready Gems
Gemstone briolettes and ultrasonic drilling
The jbt is a pain in the butt! the jbt wants to know who you buy
from how much you make. it is none of there business what you make.
it is for sales reps to call on you and take your time up.
JVP
I have been LISTED with JBT since I started my business in 1983, but
not RATED. I chose not to give them my ‘financials.’
I have never felt the need to join the organization, as no supplier
has ever demanded that. I always just give them references to
suppliers with whom I have a good ‘record.’ (Thank goodness, that is
all of my suppliers.)
David Barzilay
Lord of the Rings
607 S Hill St Ste 850
Los Angeles, CA 90014-1718
213-488-9157
JBT is GREAT!
If your a 1 rated account I will open a 30 day term account for you
on the spot. If your a 3, 4 or non rated account I need a personal
quarantee. JBT needs all that info because they check your vendors
on how you pay and what you owe. If you pay your bills who cares
what they ask for. For those of us that extend credit this service
is the difference between getting paid and receiving chapter 11
letters.
Linus
Au Enterprises
Jack,
This is a true statement. When I worked for a display company the
salesman used the JBT book where ever they traveled to find
potential customers. You really do not need the JBT. All you need
are a few (at least three) good trade references. There are some
companies that have their noses crammed so far in the book and can’t
see beyond that. Like my former employer really did not want to give
Charles and Colvard any credit because there were not JBT and they
was D&B listed and all the references they gave nothing to do with
the trade. They had plenty of money in the bank though, so they gave
them terms.
The only part of JBT that is good is when you are starting out like
myself it shows vendors that you really are in the trade and are
serious.
Regards,
Rodney Carroll
RC Gems
From a supplier perspective, what we use the JBT for is as an
important reference in extending open credit terms to customers.
It’s not the only criteria we use, but when a customer is JBT rated
we have a higher confidence level, which leads to faster credit
approval and frequently to higher credit limits. They do require a
lot of confidential so you have to be confident that the
benefit – say, of getting the faster/higher credit – will offset
the downside of offering private
Andrea M. Hill
Chief Executive Officer
The Bell Group
7500 Bluewater Road NW
Albuquerque, NM 87121
505.839.3033 ph
505.839.3032 fx
andrea.hill@riogrande.com
Rio Grande, Neutec/USA, WestCast, Sonic Mill
From a retailers perspective: A No. 1 rating will probably force
you to either hire a secretary to answer the phone calls from
various vendors or install a fancy voice mail system.
-Stanley Bright