I second what Lee Horowitz is suggesting. Memo is EXTREMELY HIGH
risk today. Since the financial crisis, big names are folding, JBT
ratings are questionable, references can be fixed, robberies
increased, and the whole situation is ugly.
If you can’t afford to lose your merchandise stick to cash memo’s,
exchange of goods, or best of all cash & carry. Credit cards are no
good, and hold goods until bank checks clear.
From end of 2007 through 2008 I lost six figure numbers to
bankruptcies and jewelers or dealers who decided to stiff me. Legal
contracts look good but hold little weight. You can spend your whole
life chasing people or putting leins against what they don’t own.
Beside this, all the money will go to the attorneys and cost you a
bundle extra traveling to cities of jurisdiction.
You will lose a lot of business changing methods, but more important
you will not lose merchandise.