Ludhiana, May 2 – The United Cycle & Parts Manufacturers Association (UCPMA) has taken a firm stance against parties that hold payments of its members. In a meeting held today, the association members expressed concern over the few parties who purchase materials but withhold payments on false excuses.
Chaired by D.S. Chawla, President of UCPMA, the meeting emphasized the seriousness of the matter and urged members to lodge written complaints against defaulting parties along with their account statements and ledger copies.
The names and particulars of defaulters would be circulated among UCPMA members as a cautionary measureD. S. Chawla, President of UCPMA
Assuring the members of strict action against defaulting parties, D. S. Chawla said that the names and particulars of defaulters would be circulated among UCPMA members as a cautionary measure, and correspondence with the defaulting party would be pasted to members to raise awareness.
The association unanimously adopted the following resolutions:
- on receipt of a written complaint along with relevant documents, UCPMA will approach defaulting parties telephonically and through a registered notice to clear the payment of its members.
- If the matter is not resolved, it will be placed before the Managing Committee, and a final notice will be given.
- In case the defaulting party still ignores or does not release payment, their particulars will be circulated among members as a warning not to deal with their firm until they clear the payment of UCPMA members.
The UCPMA remains committed to protecting the interests of its members and ensuring prompt payment for their products and services.