We rely on mill or supplier certifications that attest to the physical and chemical
specifications of the metals received from our suppliers for resale and generally,
consistent with industry practice, do not undertake independent testing of such
metals. We rely on our customers to notify us of any product that does not conform
to the specifications certified by the supplier or ordered by the customer. Although
our primary sources of products have been domestic suppliers, we have and will
continue to purchase product from foreign suppliers when we believe it is appropriate.
In the event that metal purchased from domestic suppliers is deemed to not meet
quality specifications as set forth in the mill or supplier certifications or
customer specifications, we generally have recourse against these suppliers for
both the cost of the products purchased and possible claims from our customers.
However, such recourse will not compensate us for the damage to our reputation
that may arise from sub-standard products and possible losses of customers. Moreover,
there is a greater level of risk that similar recourse will not be available to
us in the event of claims by our customers related to products from foreign suppliers
that do not meet the specifications set forth in the mill or supplier certifications.
In such circumstances, we may be at greater risk of loss for claims for which
we do not carry, or do not carry sufficient, insurance.
Cascade Acquisition's Comment on Supply Chain
We rely on mill or supplier certifications that attest to the physical and chemical
specifications of the metals received from our suppliers for resale and generally,
consistent with industry practice, do not undertake independent testing of such
metals. We rely on our customers to notify us of any product that does not conform
to the specifications certified by the supplier or ordered by the customer. Although
our primary sources of products have been domestic suppliers, we have and will
continue to purchase product from foreign suppliers when we believe it is appropriate.
In the event that metal purchased from domestic suppliers is deemed to not meet
quality specifications as set forth in the mill or supplier certifications or
customer specifications, we generally have recourse against these suppliers for
both the cost of the products purchased and possible claims from our customers.
However, such recourse will not compensate us for the damage to our reputation
that may arise from sub-standard products and possible losses of customers. Moreover,
there is a greater level of risk that similar recourse will not be available to
us in the event of claims by our customers related to products from foreign suppliers
that do not meet the specifications set forth in the mill or supplier certifications.
In such circumstances, we may be at greater risk of loss for claims for which
we do not carry, or do not carry sufficient, insurance.
Sources:
Cascade Acquisition Corp's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
Updated on:
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