Know Your Customer: Bottom Line Depends On It

RSS

Just attended a very informative and practical session at the Aviation Suppliers Association's annual conference on best practices for approving vendors.

Jimmy Wu, Infinity Air president, and Mitch Weinberg, International Aircraft Associates president, discussed things like due diligence, establishing an escrow (like the option you get for paying your home mortgage), bank and trade (which lays out things like payment terms and types, as well as verifying available bank funds), different types of insurance and cyber security.

"Don't be shy when buying," urges Weinberg, "and conversely, when you're selling, know your customer. If not, it goes against your bottom line."

That's good advice.

Please or Register to post comments.

What's Things With Wings?

Aviation Week's civil aviation blog

From The Archives

Aviation Week is approaching its 100th anniversary in 2016. In a series of blogs, our editors highlight editorial content from the magazine's long and rich history.

 

Jan 31, 2016
blog

Tupolev 104: Harsh Proof Of Rapid Soviet Progress (1956) 18

Since little detail was available of the Russian design and built Tupolev 104, a profile was compiled for Aviation Week, based entirely on observations from photographs, experts such as engineers knowledgeable in typical Russian aircraft design and of its landing at London Airport....More
Jan 28, 2016
blog

A Near View Of French Aviators (1917) 2

Some of the largest battles of the First World War were taking place in France when Aviation Week was first published....More
Blog Archive
Penton Corporate

Sponsored Introduction Continue on to (or wait seconds) ×