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MAPP Plastics Discussion Forum

The MAPP Plastic Industry Discussion Forum allows members to rapidly communicate with each other. Post both questions and answers to questions that other MAPP members have about any industry topic from material and process issues to R&E Tax Credits and other business issues.

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Posted:  28 Sep 2016 15:27
Has anybody had experience with an Access Agreement? MY customer is building new tooling and financing the purchase. The party loaning the money wants to have access to the tool should my customer default. Holding onto a tool is usually are only recourse for getting paid, not sure if I should sign the agreement or not. Feel free to call me if needed 727-572-6318. Thanks, Darryl
Posted:  28 Sep 2016 16:09
If so sign it, you lose all leverage (and any molder's lien rights you have).  I recommend not signing it.  There is some alternative language you can propose (I am happy to discuss that language with you) that equally protects you, but my recommendation is not to sign the access agreement as is.  You are free to email me a copy of the agreement and we can discuss.

-Alan Rothenbuecher
(har@beneschlaw.com)
216-363-4436
Posted:  28 Sep 2016 16:12
First, you should have a procedure of how you will be notified if the party loaning the money wants access to the tooling. You do not want this to be a surprise to your customer and you stuck in the middle.

I would add an addendum to the agreement stating that you must receive your outstanding invoices, if your customer is defaulting, before you will release the tooling to the party loaning the money.

Roger Pickens
Posted:  06 Oct 2016 18:05
Many Thanks to Alan Rothenbuecher @ Beneschlaw for taking care of this for us! Darryl
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