Tristone UK and Brexit Preparedness
Following the EU Referendum, we have been preparing our business for what may lie ahead in post-brexit Britain. Whilst we are optimistic that we can operate as normal, we cannot be naive to the potential pitfalls that may occur.
With the release of 8 new and exciting colours into the UK market, we want to reaffirm our commitment to providing the best products and services to our customers at a cost effective price. From our representatives to our drivers, we are proud of the service we provide and we thank you for your continued support.
In this article, I will aim to answer some of the frequently asked questions that need answering as we near the 31st October deadline.
Are Prices Rising?
In short, yes.
In the immediate aftermath of the EU referendum, we made all of our customers aware of our intention to review our pricing structure.
We have absorbed as much of the cost as possible. However, following the ongoing uncertainty with the GBP-USD rate, we are faced with no other option but to raise the prices of some of our product ranges on the 2019 Price Guide. This change will be reflected with an increase in sheet and sink prices across most of our product ranges.
Eligible customers are always welcome to apply for our specific tiered pricing structures (Gold and Platinum Accounts).
Prices will be valid from the 1st October 2019 with a preliminary review in Q1 of 2020.
Will there be customs delays?
We cannot be sure.
Whilst we hope our supply chain won't be disrupted by customs checks at Teesport, we cannot be certain about this until the UK has actually brexited. However, we are working with our third party partners, our local port authorities, and the Department for International Trade to mitigate some of the immediate problems that may occur so that there are no issues to ongoing commercial and residential projects.
Getting stock into the UK isn't necessarily the issue for us. For us, the actual issue stems from getting our goods from Teesport to our warehouse.
We have noticed that lead times have significantly increased on Thermoformed Sinks products by our third party partners. This may be an additional consideration that will need to be taken into account in the future.
Will you honour quotes?
Project Quotes: Yes.
We will honour project quotes as long as the quote remains within the 3-month validity period.
Residential Quotes: Also yes.
We will honour residential quotes as long as the quote remains within the 1 month validity period.
In both cases, customers are reminded that they must quote the project reference in the Purchase Order that they send.
30-Day Grace Period
There will also be a 30 day grace period where all residential quotes will be quoted based on the 2018 pricing structure. This grace period will formally begin on the 1st September (Sunday) and end of the 30th September (Monday).
We request all customers who have given quotes to end users notify us of this by emailing us.
What's the latest?
22nd August - The Department for International Trade announced a Trade Continuity Agreement between the UK and South Korea.
This agreement - which acts as an agreement in principle in the possible scenario in which we leave with no deal - was signed and suggests a near identical (but not exactly identical) agreement to the one signed by the EU and South Korea. This means that whilst there could be minimal change, the economic factors, UK Government Policy, and even currency fluctuations, can always change how we as a business react. Whilst we do not know the technicalities within this agreement, we are monitoring this issue intently.
This article was written to explain the position of Tristone UK Limited during following the European Union Referendum. Whilst we try to show a degree of impartiality in our actions, any opinions that may be included and/or voiced are the views and opinions of the writer and not those of the company.
Due to the sensitive nature of the topic in question, comments have been turned off for this post and will remain turned off indefinitely.
Managed by Young Kuk Noh.
Tristone UK Marketing