Events & AwardsApr 25, 2024
Alexis Padis Takes Over as AGS Board President Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
CrimeOct 20, 2020
Why the Trade Has Been Getting Back Invoices from Brinks
National Jeweler speaks with a Brinks executive about a situation that has been causing major frustration for members of the jewelry industry.
New York—Over the past several months, many members of the fine jewelry industry have been receiving back invoices out of the blue from Brinks.
Some claim these invoices, which date as far back as 2015, were for charges that had already been paid, while others said they couldn’t get a clear explanation of what they were being charged for.
Either way, these invoices have been causing frustration and kicking up chatter, so National Jeweler went to Brinks to ask for an explanation.
In a recent phone interview, Jim Horgdal, president of Brink’s Global Services USA, explained the issue, which started with a former employee who was indicted for embezzlement, has been convicted and is now cooperating with Brinks Global Services on the issue.
The embezzlement scandal created several issues for the company, including the misrepresentation of its ledger.
This resulted in some cases in which customers who owed money ended up with a zero balance and vice versa, Horgdal said. Brinks has spent millions fixing the problem.
Additionally, a year ago, Brinks switched to a new ledger system.
Once reconciliation of the books was completed, the company loaded them into the new ledger and started communicating with customers about what the new records showed, sending out statements beginning in March.
“The conversations we’re having with our customers are, ‘Here is the ledger. We’ve gone through and spent the time and money to make sure all your payments were properly applied. This is the best information we have. If you have different information, additional information, please reach out to us and we will work with you to reconcile this.’”
In the industry, the Brinks back invoice issue has created quite a few headaches.
One colored stone wholesaler, who reached out to National Jeweler and asked not to be named, said when his company asked for copies of the invoices from Brinks that the latter claimed are unpaid from 2017, all they provided was a statement of the account.
Meanwhile, a jewelry appraiser who came forward said the issue he’s having concerns an invoice for a 2016 transaction in which Brinks didn’t make an overnight delivery on time.
The Brinks accounting department admitted to the error via email correspondence back when the transaction occurred, the appraiser said, but he no longer has access to the email account in which it is stored.
The issue went “fairly dormant” after that, he said, until recently when his company began receiving notices from a collection company that it owed money to Brinks.
When the appraiser asked the collection company for a copy of the original invoice, the company couldn’t provide it, he said.
What happened to the appraiser seems to be a common story among those affected by the Brinks back invoice issue—they’re not able to get a straight answer, or even talk to someone at Brinks for an explanation.
Horgdal said Brinks doesn’t have enough customer service employees to handle the volume of calls it’s been receiving, so it changed the system to route pertinent outreach from clients from customer service to credit collection to talk to the department directly to address the issue, Brinks said.
He added the collection agency has been advised to refer any requests for invoice copies to Brinks to address.
Horgdal also said they’ve also been trying to communicate as much as possible with the industry at large, working with various trade organizations—including a conference call in August with several industry leaders—as well as reaching out directly to clients whose email addresses they have to communicate ways to reach Brinks.
“We’ve sent out thousands of statements to thousands of customers. There is not one instance where we believe a customer doesn’t owe us money,” Horgdal said. “If they can show us otherwise, we’ll gladly correct the records.”
But it’s not easy for everyone who might not have retained documents to prove every payment for shipments a few years back.
One gemstone dealer and jewelry manufacturer in New York, who received invoices dated as far back as 2015, said his company keeps shipment records for two to three years but no longer, adding he believes this is normal in the industry.
It’s also a question of how much time business owners have to spend on an issue like this.
“For me to sit there and spend a week, maybe more, to pull up things from five years ago, analyze movement by movement, country to country, shipment by shipment, and then come up with things we’ve paid, it is absolutely not something I’m willing to accept,” that same dealer said.
To the former concern, Horgdal said Brinks has been able to “amicably settle” with many customers who are unable to provide evidence of past payment and reach an understanding where they provide other relevant information that might help the company validate past payments, including reports from their accounting system or email communications, among others.
There’s also has been chatter about Brinks holding packages until back invoices are paid.
To that, Horgdal said: “Nothing could be further from the truth.”
Brinks has stressed to the industry that it won’t hold packages for any customer who is working with the company to resolve accounts receivable.
The bottom line, Horgdal said, is for industry members to at least be communicating with Brinks rather than ignoring the invoices.
For those with overdue balances, Brinks asks they contact their assigned collector to discuss the account and options.
To request copies of statements and/or invoices, customers can email Brinks at bgsus.docrequest@brinksinc.com.
Editors' Picks
Sponsored by
More on Crime
The Latest
EditorsApr 25, 2024
5 Tips for Creating Fans from the Top (Savannah) Banana Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
WatchesApr 25, 2024
Audemars Piguet and John Mayer Partner on Limited Edition WatchThe Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
SourcingApr 25, 2024
De Beers Lowers Production Guidance for 2024The announcement came as the company reported a 23 percent drop in production in Q1.
Weekly QuizApr 26, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
MajorsApr 25, 2024
Detroit Lions’ QB Jared Goff Keeps Going to JaredThe three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
CollectionsApr 24, 2024
Pippa Small Announces ‘Venus’ CollectionInspired by the Roman goddess of love, the designer looked to the sea for her new collection.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
FinancialsApr 24, 2024
Kering’s Jewelry Brands a Bright Spot in Tough Q1The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
Events & AwardsApr 24, 2024
JCK Industry Fund Announces 2024 Grant RecipientsThe selected nine organizations have outlined their plans for the funds.
SourcingApr 24, 2024
Rio Tinto’s Q1 Production Drops Amid Pause to Honor Lost Colleagues The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
WatchesApr 24, 2024
These Are Rolex’s New Watches for 2024 The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
ColumnistsApr 23, 2024
The Smart Lab: Advanced Email Marketing Strategies for Mother’s DayEmmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
IndependentsApr 23, 2024
Hannoush Jewelers Opens New Store in New York Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
SourcingApr 23, 2024
Lucapa Sells 3 Diamonds for $10.5M in First Lulo Tender of 2024A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
GradingApr 23, 2024
GIA Has a New Book About William RuserRuser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
CollectionsApr 22, 2024
Jacquie Aiche’s New Campaign Stars Adam Levine, Behati PrinslooThe “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
EditorsApr 22, 2024
The 22 Best Quotes from AGS Conclave 2024 Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
SourcingApr 22, 2024
Virtual Diamond Boutique Rebrands as ‘VDB’The overhaul includes a new logo and enhanced digital marketplace.
MajorsApr 22, 2024
Signet Raises Nearly $9M for St. Jude Children’s Research HospitalThe money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
CollectionsApr 19, 2024
Piece of the Week: Retrouvaí’s Treasure NecklaceA new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
MajorsApr 19, 2024
Unique Designs Acquires China PearlThe move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
GradingApr 19, 2024
AGS Ideal Report Now Available in Printed FormFrom now through mid-May, GIA will be offering the reports at a 50 percent discount.
SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
