September 28, 2015

Installment Sales

Store/Company Name:

EMCOR

Type and Nature of Business:

furniture (e.g.
desktop

EMCOR is a 100% Filipino-owned merchandising type of

business that specializes on retailing appliances (e.g.
refrigerators, television sets, radio sets, etc.),
sofas, tables, cabinets, shelves, etc.), IT products (e.g.
laptop computers, and motorcycles.

Reason why they use installment method of sales:

EMCORs branch manager states that since EMCOR sells a
wide array of big products (e.g. TV sets, cabinets, sala
sets,
etc.) that require large sums of payment from their
customers, it
would be more convenient for them to sell on installments,
considering the fact that there are customers that cannot afford
to pay the full price at the moment of purchase.
How do they use installment sales?
Branch manager of EMCOR Iligan states that they require
monthly installment payments including interest for items that
they sell on installment.
For buyers who default payments, the unit purchased will be
subjected for pull-out and the buyer will be given a notice
regarding his/her situation. They will be granted 30 days for
them to make the required payments. If they fail to do so, the
unit shall be repossessed.