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Damien Bosco
Damien Bosco, Attorney
Category: Business Law
Satisfied Customers: 2580
Experience:  Helping you with your legal questions.
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I am an interior designer in Hawaii. Do I need to state my

Customer Question

I am an interior designer in Hawaii. Do I need to state my mark up fee with my vendors in contracts with client. Also if I purchase an item from a vendor and my client paid me to purchase that item but that vendor goes out if business and fails to provide the item or my money back. How can I protect myself?
Submitted: 2 years ago.
Category: Business Law
Expert:  Damien Bosco replied 2 years ago.
Hello and Welcome! My name is***** am a licensed attorney. I have assisted hundreds of others with their legal questions. I am happy to help you!
I wanted to answer your question because it has been open for some time. I have had various interior designers as clients. It is best to put the mark up fee in the contract because you do not want the client to later claim you overcharged them for the items. With the mark up fee in the contract, you guarantee your right to collect it.
If a vendor goes into bankruptcy, your only recourse if you do not get the item, is to become a creditor of the bankruptcy estate. Or if they go out of business without a bankruptcy, attempt to file a claim against the individual owners.
Customer: replied 2 years ago.
Thank you Damien. That was very helpful and worth the affordable $36.00!
Expert:  Damien Bosco replied 2 years ago.
You are welcome!
Expert:  Damien Bosco replied 2 years ago.
Please remember to rate my answer so I can get paid for assisting you. Thank you.