GPI 412 – Tell your customers and vendors about potential refunds they may not know about and be a hero.

An impressive and memorable thing your sales personnel can do before visiting new or existing customers is look up any unclaimed property in those states where the customers operate.  Each of the fifty states have unclaimed property funds which may contain monies paid to the state government in behalf of your potential client. Not all companies have funds but it is worth looking.

Here is something free, but valuable, that your sales person can give away:

Your sales person might consider looking also for the buyer’s personal name since the funds include returns for individuals as well as companies. Telling the buyer he has a refund that he needs to claim will improve your client relationship.

These refunds may stem from vendor refunds, vendor discounts, returns from title closings, awards from class action lawsuits, returns of overpaid utility bills, returns of deposits or any number of things that cause checks to be issued, get lost or fail to be delivered and then ultimately get returned to the issuer. All states require the issuers to deliver those funds to the rightful owner.  If the payee is not found, the in state payors must forward the monies to the state in which they were issued.

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