Cash Flow Contingency Plan
IWTB is making a cautious and concerted effort to maintain safe operations that will allow us to continue to serve our community. We appreciate your understanding and support to ensure our survival.
In reflection of our contract agreement "Closure Clause"
"If for any unforeseen reason IWTB should terminate this agreement due to closure all funds accumulated on accounts will be consumed by IWTB."
All active accounts that had a current drop off prior to closure March 13th, 2020 will be extended for the 90 day term/end of season to accumulate sales from the date of reopening.
All accounts that had a current "0" balance or that have been inactive for 2 years have been eliminated from our data base. A new account will be issued with a drop off.
All active accounts dated prior to March 13th, 2020 Covid 19 shutdown will remain open for a 1 year period from the date of IWTB reopening.
The funds on such accounts will remain the property of the consignor for credit towards in-store purchases only during that year. No cash payouts
will be assured or issued during that year for accounts with a balance under $100.00, or until the lifting of restrictions of the "cash flow contingency plan".
Accounts exceeding $100.00 can apply the first $100.00 towards in store credit for purchases, afterwards each additional $25.00 can be requested to be paid out 1 time per month over the year period by visiting the store in person to claim the funds.
New balances of sales for existing tagged inventory that occur on active accounts after reopening will accumulate on Pre-Covid accounts and those new balances will be available for cash payouts upon request or available for in store credit.
All accounts that have a remaining balance after the 1 year period can be carried over when opening a new account post Covid 19 with a drop off.
If a new account is not opened at the 1 year term all funds remaining on pre Covid accounts will be consumed by IWTB and terminated.
All crafter accounts are subject to a mutual agreement payment schedule to be arranged with management.
Our contingency plan is not a true representation of our business, so when you are offered to give feed back on our media ....please do not be harsh.
Thanks again for your on going patience, our team really appreciates your support!
The impacts on our future economy are unknown with many factors to consider. Should the support in our efforts to regain financial cashflow change our current situation we will reevaluate our "Cash Flow Contingency Plan" to lift restrictions outlined above.