Myrtle Beach contest puts stop payment on checks

[bbqczar]

This should really be handled differently. Sometimes chit happens. Either way you should contact them and give them a chance to make it right B-4 airing it out in a public forum.

WHAT ???? Why ? I think all the teams should aware of this and to let other teams that attended that they may be seeing this at their banks as well.If the check stop was for legit reason then the person or persons stopping the checks should have let the people know why they were stopping payment BEFORE they stopped the payments,not just saying"uh,well,duh,I don't know,but I'll look into it",thats TOTAL BS and shouldn't happen to anyone and it should be brought out into the open right away ! The people paying/stopping were already given a chance,the chance before payment was stopped

 

[bbqczar]

I would think that to prevent this is EXTREMELY simple,make KCBS require that all pay-out's be in cash,no if's and's or but's,absolute requirement that comes with sanctioning,this is an easy fix,but KCBS won't do it.

 

[sdbbq1234]

Just an FYI: Most banks will cash a check drawn on another branch within its entity even if you do not have an account there. They most likely will charge you, and it might take a few minutes but most (BOA, WELLS FARGO, etc...) will do it.

They will be reluctant at first but, my old saying is, "when the pressure gets too great, ESCALATE!"

It works.

And yes, it may take weeks if not months for a check to bounce. I know from experience. It sucks!

Ok, one more edit: try to keep everything you do in writing. At least, keep a detailed note of "who, why, when and where" as far as your verbal conversations go.


wallace

 

[Rolling Smoke]

I would think that to prevent this is EXTREMELY simple,make KCBS require that all pay-out's be in cash,no if's and's or but's,absolute requirement that comes with sanctioning,this is an easy fix,but KCBS won't do it.

Easier said than done and as an organizer, an edict from KCBS requiring me to pay in cash would be enough to cause me to hang up my organizer's hat. Non-payments and stop payments are a rare so why punish everyone for what a couple are doing?

 

[bbqczar]

Easier said than done and as an organizer, an edict from KCBS requiring me to pay in cash would be enough to cause me to hang up my organizer's hat. Non-payments and stop payments are a rare so why punish everyone for what a couple are doing?

Why would it be hard ? I have only been to maybe 2 or 3 contest's in over 7 years that paid by check,all others were cash and several of the organizers said that was the easiest way to do it.I guess maybe if you don't have the prize money the day of the event,which would be an absolute no-no then you would want to pay by check,I can't think of any reason otherwise that it would be hard.

 

[tmcmaster]

I would think that to prevent this is EXTREMELY simple,make KCBS require that all pay-out's be in cash,no if's and's or but's,absolute requirement that comes with sanctioning,this is an easy fix,but KCBS won't do it.

If the KCB$ can figure out a way to get a % of that cash, they would do it in a heartbeat.
:boxing:

 

[Rolling Smoke]

Why would it be hard ? I have only been to maybe 2 or 3 contest's in over 7 years that paid by check,all others were cash and several of the organizers said that was the easiest way to do it.I guess maybe if you don't have the prize money the day of the event,which would be an absolute no-no then you would want to pay by check,I can't think of any reason otherwise that it would be hard.

My contest is an llc and to pay out cash doesn't set well with accountants or auditors. The money is in the bank (even if it has to come out of my pocket) or the check wouldn't be cut so that's not the issue. It's all accounting.

So in answer to my question, why punish the masses for the mistakes of only a few?

 

[Grizmt]

They can also require escrow of funds, they've done it with some promoters before. As for "punishing everyone for what a couple have done" isn't that how every rule has been acquired so far? Issues come up, rules are created to fix the issues.
The way I see it, since prize funds have grown rather large it's past time to protect the integrity of the event and the people who base their decisions and actions on the "faith" that they'll get paid if they win.
Like I've always said, cash don't bounce!

I'm guessing in this situation it may well have been retribution for the disagreement over vending the OP spoke of.
Not like I've ever heard of a organizer withholding funds over vending disputes.:icon_shy

 

[Smoke'n Ice]

I'm guessing in this situation it may well have been retribution for the disagreement over vending the OP spoke of.
Not like I've ever heard of a organizer withholding funds over vending disputes.:icon_shy

Actually, there were two contracts in place. Contract one was the contest. That contract was completed fully. Contract two was the vending. One has nothing to do with two and they may have opened themselves up to some junk yard lawyer looking to make a buck.

 

[Jacked UP BBQ]

The only check I ever ran to the bank with is Phils! haha I have a few thousand in winnings from the season sitting here. I better run to the bank with them. I would say KCBS will have to and will make it right

 

[Just Smokin' Around]

Why would it be hard ? I have only been to maybe 2 or 3 contest's in over 7 years that paid by check,all others were cash and several of the organizers said that was the easiest way to do it.I guess maybe if you don't have the prize money the day of the event,which would be an absolute no-no then you would want to pay by check,I can't think of any reason otherwise that it would be hard.

I've seen very few contest pay in cash. They were usually small, unsanctioned events. I guess it's a bit different in the south west. Here in the east, it's checks and we never had a problem.

 

[djqualls]

My contest is an llc and to pay out cash doesn't set well with accountants or auditors. The money is in the bank (even if it has to come out of my pocket) or the check wouldn't be cut so that's not the issue. It's all accounting.

So in answer to my question, why punish the masses for the mistakes of only a few?

Then you have poor accountants or operating cash balance. A signed payout slip, the original entry, the prize sheet, and the KCBS score sheet are more than sufficient backup for any audit. Cash or check you will have to have a W9 if its over $600. Cash is King and the IRS knows that and GAAP understands that as well.

 

[Gowan]

Then you have poor accountants or operating cash balance. A signed payout slip, the original entry, the prize sheet, and the KCBS score sheet are more than sufficient backup for any audit. Cash or check you will have to have a W9 if its over $600. Cash is King and the IRS knows that and GAAP understands that as well.

You need to consider politics.

Events sponsored by government don't like to pay cash for anything. Voters tend to frown on it.

 

[Jorge]

I would think that to prevent this is EXTREMELY simple,make KCBS require that all pay-out's be in cash,no if's and's or but's,absolute requirement that comes with sanctioning,this is an easy fix,but KCBS won't do it.

What's the average cost for armed security? In some cases you are talking about advertising where $20k+ in cash can be found at a particular time.

 

[Sledneck]

What's the average cost for armed security? In some cases you are talking about advertising where $20k+ in cash can be found at a particular time.

Shhhhhhhhhhhhhhhhhh your spoiling my plot

 

[tmcmaster]

What's the average cost for armed security? In some cases you are talking about advertising where $20k+ in cash can be found at a particular time.

Not that much.
http://www.ebay.com/itm/Mosler-GSA-...646?pt=LH_DefaultDomain_0&hash=item5d34ea116e

 

[Grizmt]

Actually, there were two contracts in place. Contract one was the contest. That contract was completed fully. Contract two was the vending. One has nothing to do with two and they may have opened themselves up to some junk yard lawyer looking to make a buck.

If everything you say is correct then you're right, one has nothing to do with the other BUT some organizations (or the people running them) don't see things as others do, are (many times) in no way run by knowledgeable business people. Mostly run just by volunteers who got suckered into or volunteered to do the particular event and their total focus is on generating $$$$ for whatever their cause is.
Thing is, many of these people know that it'll cost more than what is owned to use legal action to get it paid or have worded their agreements so one sided in their favor that recovery is near impossible. Some also depend on the fact most people will just say "to heck with it, we'll let it go and move on" and walk away.

I was told a truism by my attorney once long ago which is "what's right and just may not necessarily be what's upheld in court".

 

[Grizmt]

What's the average cost for armed security? In some cases you are talking about advertising where $20k+ in cash can be found at a particular time.

Why security? Would YOU want to try and take money from a place where there's nothing but sharp objects right at hand, tired and in some cases really ticked off people and who cut things up just for FUN? :clap2:

 

[roksmith]

If you require the contests to pay out in cash, then you would most likely be expected to pay your entry fee in cash.
The only fool-proof way to prevent something like this would be for KCBS to require full payment to them of the prize money prior to the contest and then cut the checks themselves.

I don't think anybody wants to see the effects that would have on prize pools.

 

[Jorge]

Why security? Would YOU want to try and take money from a place where there's nothing but sharp objects right at hand, tired and in some cases really ticked off people and who cut things up just for FUN? :clap2:

If I chose to be a criminal, yeah I'd like those odds.:biggrin1::biggrin1::biggrin1::biggrin1::biggrin1::biggrin1::biggrin1::biggrin1::biggrin1::biggrin1::biggrin1: