As Greg says, cost of exchange items is a concern. Not sure about public liability and how to get around that. They do exchange steering shafts for HQ-WB though.
As Greg says, cost of exchange items is a concern. Not sure about public liability and how to get around that. They do exchange steering shafts for HQ-WB though.
I agree with Mook on the seat belt thing. These should really be a priority I think as they are a safety item and people are having to use second hand items. Seat belts cover a lot of other models as well so the cost would be easier to recover from a larger market.
Isn't that why we have Public liability and indemnity insurance???Originally Posted by HK1837
4/75 HJ XX7 Sandman Panelvan ... Persian Sand currently restoring
7/76 HX Monaro 4dr 308 4sp... Absinth Yellow and rusty as hell.. SOLD
3/77 HX Sandman Panelvan ... Absinth Yellow and rusty as hell .. SOLD
I know my Public Liability Insurance wouldn't cover failure of a part I sold, nor should it I think? Indemnity Insurance wouldn't do it either I don't think. The only way out is Limited Liability (ie Pty Ltd). However if a mechanic can replace bushes and balljoints in a 2nd hand bit, I can't see why they can't be sold on an exchange basis, but Greg will probably elaborate later on this.
Byron, public liability and indemnity is usually trade specific. I am a Builder and my public liability covers anyone who is injured on one of my building sites.... my indemnity insurance covers damage or injury in case of faulty workmanship... IE if a deck I built collapses and injures or kills people.
Mechanics may have a higher risk so higher premiums but they would be covered the same as I am. This would apply to reconditioners, manufacturers etc.....
I would assume Gregs public liability would cover anyone injured while on his property and the indemnity would cover him for damage or injury that occurs should one of the parts he sells fail.
4/75 HJ XX7 Sandman Panelvan ... Persian Sand currently restoring
7/76 HX Monaro 4dr 308 4sp... Absinth Yellow and rusty as hell.. SOLD
3/77 HX Sandman Panelvan ... Absinth Yellow and rusty as hell .. SOLD
I sell spare parts for earthmoving machinery and legally I must have "Product Liability Insurance". I'm sure RS would be required to have the same.
Last edited by GTS; 10-02-2011 at 05:19 PM.
Problem with imdenity insurance (for me it is Professional Indemnity Insurance) is that is is an "insurance in force" product. You must keep it for the statute of limitations after you create your last piece of design, ie 7 years. When companies ask for it for a 2 year contract I increase the rate by 9 years of insurance over the two year period, and they quickly drop the idea. There is no argument that it is protecting their interest only, mine is protected by my Pty Ltd plus my experience!
I think GTS has it with Product Liability Insurance. I can't see how a recoed original part has any more issues than a cheap Chinese repro part, or paper thin panels?
Byron can you ask about A/C heater cores they are NLA, although you can still buy non A/C new?
Leroy
Last edited by mr.jones; 10-02-2011 at 10:32 PM.
cars are not buildings....very much a load of bullshit when it comes to reco but second hand is sold to suit reco...once past to a mechanic and he puts an earn on it then its his problem...big kettle of fish..
So what was the purpose of the meeting? Was it so RS could find out the depth of their own shortcomings?
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