Failed Medical Equipment Deals – COVID-19

Coronavirus – How suppliers are refusing to give back money for failed medical equipment deals

Due to the coronavirus pandemic, businesses, markets, and industries all over the world have turned upside down, and many business deals have collapsed. One such sector that has been impacted the most because of this pandemic is the medical equipment sector.

There has been an increase in the demand for N95 masks, testing kits PPE kits, and ventilators worldwide. However, the spread of the COVID-19 has created a severe shortage of medical equipment, as in many cases this equipment is supplied from countries such as China. Now, the lockdown has made it even more difficult to get supplies from the other countries. The lockdown across the globe has changed how the majority of companies do business on a day-to-day basis. Moreover, the problem is that in many cases companies have already paid the suppliers for the medical equipment and these suppliers do not refund the their mone, even though the supplies are not being sent.

Not just important medical equipment related to protection and treatment of COVID 19 but the supply of other non-essential medical equipment has also taken a backseat until the crisis is over. Some companies have made advanced payments to the suppliers for the equipment for aesthetic procedures, like cosmetic surgeries, and non-essential dental procedures which have been delayed due to the present pandemic. Similarly, as people are avoiding taking non-urgent treatments at present, not only for safety concerns but also to free up space for corona patients, suppliers have found one more reason to delay the supply of these equipments. It is true that in these difficult times, we have to support each other but doing this becomes increasingly harder when the suppliers fails to communicate with you.

It is a fact that many suppliers have in reality been hit hard by the pandemic and the preceding lockdown and are neither able to supply the medical equipment nor provide a refund for the advance payments made. However, it cannot be denied that many of the suppliers have just used these opportunities to get away with the hard-earned money of the business  customers. These suppliers have vanished into thin air and are just making things even more difficult for already stressed busineses. If the suppliers are not able to provide the medical equipment ordered due to the high demand, the closeure of borders or any other reason then they should at least try to contact their customers. They should try to re-negotiate how to repay advance monies paid

However, if you have a supplier who is refusing to contact you after the deal fell through, we at Creditreform are here to help you. Our dedicated team of debt collection agents will contact your suppliers and make sure that you get your money back as soon as possible. With our debt collection, you can be tension free as we will handle everything for you.

 

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