SAFELY SELL MEDICAL EQUIPMENT
Consider the following before selling your used laboratory equipment:
What to look for when structuring a fair deal:
- Get references on the company you plan to sell to
- Get 100% payment in advance prior to removal of equipment
- Make sure both parties' signatures appear on the contract
- Avoid open-ended contracts with unclear terms
- Establish a clear time frame for equipment removal and prompt payment
What to avoid when structuring a fair sale:
- Avoid partial payments of 25-50% down. All legitimate companies in the used equipment business pay 100% in advance. They know this is what distinguishes them from the unethical companies.
- Avoid open-ended contracts with unclear terms. For example, UCI means “Upon Conditional Inspection.” This term gives the vendor a loop hole to not pay the remaining balance. For any reason, the vendor can say the instrument did not pass their inspection and they are no longer required to pay the remaining balance. You either have to accept the vendor's down payment as payment in full, or refund the down payment, initial shipping cost, and pay the additional return shipping costs. “HUGE BUYER BEWARE”
- Establish a clear and distinct time frame for receipt of payment, pick up date, and removal of equipment and Get it in Writing! Establish purchase price in contract and make sure both parties’ signatures appear. You may sign the contract but they often will not. You are committed but 30-60 days later they often cancel the contract and say they never signed the deal and so it was never a valid contract. You then have to start over trying to sell your used equipment. The intent of this is to lock up your used equipment and then try to sell it. If they can’t sell it, they cancel the deal.
ARTICLES ABOUT SAFELY SELLING & BUYING MEDICAL EQUIPMENT
EQUIPMENT CATEGORIES
MYCO Instrumentation
Serving The Medical Community Since 1978
PH: (800) 414-7169
(253) 447-4220
Fax: (253) 447-4251
info@myco-instrumentation.com
