An Automotive News article, “How suppliers are tackling four challenging legal and regulatory issues,” discusses how auto suppliers have been seeking price adjustments and extended payment terms following years of reduced profit.
The results are mixed. Adam Ratliff,a partner at Warner Norcross + Judd LLP, urged both parties to have honest conversations about what the customer needs and what the supplier can afford.
"You can imagine the heightened concerns when accommodating would shutter their operations or harm their cash flow to the point that they couldn't pay their own suppliers," Ratliff said.
Automotive News subscribers can read the complete story here.
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