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Dyeing, printing mill owners to pay-up in 45 days - SUCAM
06
Aug '10
Member merchants of Surat Colour Chemical Merchant's Association (SUCAM) have been urged to supply stocks to only those dyeing and printing mill owners, who agree to pay the amount of the stock within a time span of 45 days.

As per officials of SUCAM, since several months, the colour-chemical merchants of Surat have been facing a tough time with respect to delay in payments. While the standard credit period was set as 60 days, mill owners have been found taking 90 days to settle the outstanding dues.

The aforesaid decision of 45 days credit was taken during the yearly general meeting of SUCAM. Member merchants of SUCAM have joined hands and have also lended their support to the same.

A senior SUCAM official mentioned that, since a couple of years, merchants were facing problems pertaining to getting their dues cleared. The association had started receiving complaints against mill owners, who were delaying payments for 90 days, post purchase of colour-chemicals. Hence, merchants have been directed to supply stocks to only those mill owners who agree to pay-up within 45 days time period.

More over, this official also stated that, several merchants were yet to receive their outstanding dues from mill owners, as per hearings from the market. However, still, these affected merchants have been urged to submit their details to the association, so that mill owners can be coaxed to clear the payments or face legal action.

Fibre2Fashion News Desk - India

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