Increasing prices and strong yields in 2020—with notable exceptions in areas impacted by drought and derecho—improved farmers’ financial positions this winter. As you’d expect, stronger bottom lines led to improved outlooks, especially after Thanksgiving.

“We are very optimistic now,” said Kevin Cox, who grows 4,000 acres of corn and soybeans near Brazil, Ind.

That optimism is manifesting itself in the farm equipment market.

In Purdue University’s Ag Economy Barometer reports in December and January, producers were markedly more inclined to consider now a good time to make large investments in their farms. Fifteen percent of respondents to the January survey reported plans to spend more on farm machinery purchases in the coming year. In May, only four percent planned higher purchases.

That sentiment is true on the ground in Indiana: “We are replacing a couple pieces of smaller equipment, but we’re not going crazy,” Cox said.

The risk always exists that weather or politics will startle markets, but agricultural market analysts are cautiously optimistic that Midwest crops will be profitable, and farmers will spend more aggressively.

Here’s a sector-by-sector outlook, based on trends in early February.

Soybeans

Soybean production is profitable again for most producers. The main reason is China: The country drove a 78 percent increase in export volumes for the marketing year through January, according to USDA.

Analysts expected China to return to U.S. soybeans after trade tensions calmed and the purchases were again financially feasible for Chinese crushers, but there is more to this trend in profitability: Supply pressure is also pushing up prices.

Soybean ending stocks are projected at the lowest levels since 2013, and the USDA season average price projection passed $11 per bushel in January. Nearby soybean futures headed toward $14 in late January.

Exports will remain the biggest driver of soybean demand, but the industry’s continued effort to diversify also will influence the market.

“We’re trying to generate new international markets all the time, and always looking for new commercial uses for soybeans in the U.S.,” said Cox, who also is a member of the board of directors of the Indiana Soybean Association. He anticipates greater demand for U.S. soy from other Asian customers, especially on the Pacific Rim.

Corn

Strong export sales this marketing year, which started in September, are pushing corn prices back above breakeven. The story is again China, where purchases accounted for 80 percent of the increase in exports from September to December, according to Purdue University.

China continued buying in January, with USDA also reporting big sales to familiar corn customers like Mexico, Japan and Philippines.

The result? Producers with old crop corn saw March futures hit $5.50 per bushel, and new crop prices (December 2021 futures) knocked on $4.50. Combined with ad hoc government payments, producers realizing $4.25 for their 2020 crop could return around $200 per corn acre for 2020 and stay well within positive returns to management for 2021, according to the University of Illinois.

Cox, who saw his best corn yields ever in 2020, said he is investing in farm projects like tiling that will improve long-term productivity. “We’re very thankful, blessed by the good crop and the price outlook, but I’m not buying a new pickup,” he said.

Higher corn prices are not a boon for all Midwestern agriculture. Corn price hikes translate to higher costs for animal agriculture and ethanol producers. Ethanol producers saw continuous challenges in 2020 as lower fuel prices caused many ethanol producers to shutter plants for at least part of the year. Strength in ethanol by-product prices (corn oil and DDGS) helped producer profits, but many will incur substantial costs to reopen plants that were closed or paused in 2020, says Scott Irwin, a University of Illinois economist.

Wheat and Sorghum

Wheat prices rode corn’s rise in January, and favorable demand fundamentals increased USDA’s season average price forecast. It’s too early to forecast yields, but U.S. winter wheat acreage increased 5 percent over last season.

Global signs favor stronger wheat export demand, including a lower production forecast in Canada and Ukraine, as well as an increase in the wheat export tax in Russia.

China is a huge importer of grain sorghum, and USDA reported the biggest week ever of sorghum purchases in August. Grain sorghum prices trended higher from August to December, according to Kansas State University.

Pork and Beef

Bottlenecks at packing plants, and changes in where and what we eat, kept the U.S. red meat supply chain scrambling in 2020. This year, we see favorable supply-and-demand signs.

“I think we’re going to see beef demand improvement internationally, for sure,” said Kenny Burdine, University of Kentucky livestock economist. “I’m also optimistic, though, that restaurant demand improves by the second half of 2021. My guess is that we see higher cattle prices pretty much across the board this year.”

Consolidation continued in the pork industry in 2020, but consumer demand remained strong both at home and abroad. There’s potential for profitable hog prices in 2021, especially in the summer, according to a January forecast from Western Illinois University.

Something to anticipate across the U.S. meat sector: fundamental changes in how meat is processed. Pandemic-related labor shortages resulted in some U.S. firms fast-tracking more automation and robotics on meatpacking lines to create more space among employees.

Dairy and Poultry

Dairy and poultry producers may face more financial risks this year than grain and livestock farmers, depending on production history, feed ration costs and geography.

The poultry sector was not as dramatically affected by the pandemic as the red meat sector, but “poultry wholesale values still got hammered,” Burdine said.

He thinks poultry integrators increased time between flock placements in 2020, decreasing poultry farm cash receipts. Burdine expects the poultry sector will increase production back to 2019 levels.

The USDA raised its national average milk price forecast for 2021 by $1.05 per hundredweight in January.

Still, upward movement in feed costs could offset the benefit of higher milk prices for dairy producers. Unless smaller dairy producers can enter more lucrative niche markets, future dairy profits in the Corn Belt will likely be realized in operations willing to expand to larger herd sizes that can capture economic efficiencies available from newer production technology.

Matthew Ernst is an agriculture writer and analyst based near St. Louis. He grew up on a commercial crop-and-livestock farm on the East Coast.

Their ideas will still be good and their questions insightful. The conversations still will be rich.

The Association is in continual communication with the city of Kansas City and the Marriott Downtown to plan a Summit that meets the highest standards of safety and health and offers the highest-impact opportunities to network.

We plan to host the traditional golf and trap events but will pause the exploration of nightlife. We also still plan a welcome reception and encourage members to connect outside of structured convention time. The Power & Light District is an easy stroll from the hotel.

In the meantime, take a look at what’s in store for the speaker sessions.

Never the Same: Panel on the Post-COVID Workplace

Join experts on human resources, sales and marketing, and manufacturing operations to hear how they envision the future when the dust settles from the pandemic. After this 60-minute panel discussion, speakers will lead breakout sessions and respond to your questions. You will meet:

Michael Bird, CEO of Spindustry, a digital marketing agency, to discuss the future of sales and marketing. (Bird will also be on stage for a session on farmers’ buying behaviors.)

Mike Gonnerman, vice president of Mastering Excellence and an alliance partner of Kansas Manufacturing Solutions, will explore plant operations moving forward.

Shaunna Jones, who leads K·Coe Isom’s HR consulting team, will offer thoughts on employee needs and expectations in the workplace post-COVID.

What’s Next for Ag? Economics, Politics, and the Conservation Movement

Ray Starling is back by popular demand. He joined us for our virtual annual meeting in October to discuss agriculture policy and politics. In April, he will explore three issues that he sees influencing agriculture: economics, the political environment, and trends around sustainability.

Starling has been the general counsel for a state department of agriculture, a staffer on the U.S. Senate Ag Committee, and chief of staff to a U.S. senator. He joined the White House in 2017 as special assistant to the president for agricultural policy. In 2018, he became chief of staff for USDA’s Sonny Perdue. He returned to his home state of North Carolina in 2019 to serve as general counsel to the North Carolina Chamber of Commerce.

What Drives Farmers’ Buying Beliefs and Behaviors?

Susan Baier and Michael Bird will discuss results of an extensive survey examining how farmers make their buying decisions, including whether they have changed their approach since the start of the pandemic, what resources they tap when considering buying equipment, and their likes and dislikes around product searches online, in person and through print media.

Baier is a marketing strategist and researcher with Audience Audit and one of the most sought-after attitudinal segmentation researchers in the U.S. Bird is CEO of Spindustry, a digital marketing agency.

Smart Implements and Data—Creating Value

Mike Gomes will speak to the Tillage Council. He brings more than 25 years experience in digital transformation in agriculture. He is vice president of business development for Topcon.

Gomes will discuss how the evolution of operations technology and information technology has created the internet of things, and what it means for the industry when a single machine becomes part of a connected system.

You and I have at least a few things in common. First, we are innovators and entrepreneurs. We are bold amid uncertainty.

Next, we bring a humility and generosity to our work that makes it easy for us to learn from one another. We know that it takes each of us with our individual strengths and perspectives to make our businesses stronger, our industry stronger, even our families stronger.

Finally, we find value in belonging. We understand the value of the ąű¶łĘÓƵ and see its potential for driving growth in our operations.

It is time to gather again. This is not a call for recklessness. We will not flout the rules. But, I believe, the Board of Directors believes, Association staff believe, and at least 120 member executives believe that the Summit can be a safe and productive opportunity to network, form partnerships, learn, and exchange ideas.

Please consider registering for Supply Summit 2021. It is April 7 to 9 at the Kansas City Marriott Downtown. If you have thoughts on the meeting, let me know at President@FarmEquip.org, or get in touch with Executive Vice President Vernon Schmidt at Vernon@FarmEquip.org.

To find a new way, you must take a new path.

Matt Westendorf is president of the Association in 2021 and president of Westendorf Manufacturing in Onawa, Iowa.

Our heads are not in the sand. We will not be irresponsible. But, we will be at the Kansas City Marriott Downtown from April 7 to 9.

Will it be business as usual? That’s unlikely. Will it be valuable? Yes. We will create opportunities for substantive, productive conversations with industry experts and industry peers. We promise you ideas, connections, and solutions.

We understand that every company and every executive will choose what is best in their circumstances. We can only ask that you trust the Association to commit to the highest standards of keeping you safe and healthy. Nothing matters more to us.

When we gather, we will not dwell on events of 2020 but rather discuss how it will shape us in 2021. We are convening a panel to discuss what awaits us in a post-COVID work environment and marketplace.

We also will hear from a former White House insider about what’s ahead for agriculture and the economy. If you joined the Association’s virtual annual business meeting in October, you met Ray Starling then. If you have not yet heard him speak, you are in for a treat.

We are honored that the Supply Summit will serve as the premiere presentation of a body of new data on farmers’ equipment-buying attitudes and behaviors.

The Association will host the Supplier Product Showcase and traditional networking events, including trap and golf. Those elements will be staged as health-and-safety regulations allow.

See who’s coming by looking at the our meeting page. You can also learn more about speakers and who has signed up to golf, shoot trap, or participate in the morning walk/run. We look forward to seeing you in April.

Vernon Schmidt | Executive Vice President | Vernon@FarmEquip.org

We faced individual challenges in 2020 that were wrapped inside our all-consuming shared challenge. Sometimes there was a cause-and-effect relationship between what everyone faced and our personal thing. Other times though, our thing was a random addition to what could feel like a pile of troubles.

That was the case at Tiger Lights in Oregon, where an unprecedented wildfire season claimed lives, destroyed homes and businesses, and ultimately burned more than 900,000 acres.

Two of the wildfires—Beachie Creek and Holiday Farm Fire—crept within 15 miles of the homes of the owners and an employee at Tiger Lights, an Association member company based in Tangent, Ore.

Fifteen miles, in the context of two blazes approaching from different sides and creeping outward to torch about 367,000 acres, is just too close.

There were days that ash fell from the sky and covered their cars like snow, Mikkelsen said. The smoke created a fog that made it dangerous to be outside without a respirator. During our shared crisis, when bringing outside air inside is good, businesses in Oregon had to seal their buildings against an oppressive smoke.

“It got bad in early September,” said Dana Mikkelsen, a lifetime Oregonian who owns Tiger Lights with Randy Raschein, her dad. “We had a terrible windstorm, and the fires went from five acres to hundreds of acres quickly. I’ve never seen anything like it in my life.”

Through it all, the company remained open and relatively unaffected by events erupting around them.

“We are good. We are lucky,” Mikkelsen said. “We have a finely tuned machine here.”

That fine-tuning is not the result of decades in business but rather lessons learned quickly.

Tiger Lights, which manufactures LED lights for agriculture, industrial, and off-road vehicles, launched in 2013. Raschein began the business based on a need he saw during his decades as co-owner of Farmland Tractor, a tractor salvage company. The equipment he saw needed better lights.

“He just started bringing in samples and looking at better ways to do things,” Mikkelsen said. “He wanted to see where things might go, and they took off. Some of the first lights he developed are our bestsellers.”

The company’s original niche was in creating new lights for old tractors, and that has remained a mainstay. Tiger Lights has also expanded to create light kits for new tractors, which she said the company typically sells for less than 25 percent of what farmers would pay if they bought the light kits from the tractor maker.

The company has set a pace of introducing six new products a year, which has led to an expansion both in production space and sales.

Tiger Lights started in 2,000 square feet of space it shared with Farmland Tractor, which Raschein and other family members still own and operate. From there, it moved into its own 5,000-square-foot building, which it quickly outgrew. In mid-2020, it claimed a 23,000-square-foot space, which leaves ample room for the future.

The family sells its lights in the United States, Canada, and Australia. It works through wholesalers and is expanding to serve original equipment manufacturers.

Mikkelsen shared her thoughts with Ag Innovator on both the shared challenges and individual challenges Tiger Lights faced in 2020.

Q: How have trade disputes affected the company?

A: The majority of our lights have an aluminum housing, so the tariffs have had an impact on us. In 2018, we had a 10 percent tariff. It has been over a year now that the tariff has been 25 percent. We have tried to absorb the cost the best we could, but we implemented a very minimal price increase in 2020.  Our suppliers have been good about working with us on prices, too.

Q: How did you respond to COVID-19?

A: We are in Lynn County, which is considered one of the hot spots in Oregon, but we haven’t had any real issues. We considered ourselves somewhat essential and continued to operate as normally as possible.

We locked our doors and did not allow visitors or customers. We have eight employees in a big, open warehouse, so it was easy for everyone to keep their distance. Oregon is still locked down. Walk-in traffic to our showroom was never a huge part of our business, but that remains closed, and we are doing everything by phone and online.

Q: Are there ongoing effects of the wildfires?

A: In terms of our business, things are back to normal. We experienced shipping delays because of the smoke, but that was brief. The landscape will not look the same in my lifetime, which is a sad reality for Oregonians, and of course the people who lost homes, even neighborhoods, this is far from over for them.

Q: What’s ahead for Tiger Lights?

A: We have a few different projects in the works. I think we are just going to continue to build our company by developing quality lights that farmers know they can trust. We also hope to expand our presence in the industry through organizations like Farm Equipment Manufacturers Association. We made it to our first convention in 2018 and are looking forward to meeting more members when things get back to normal.

Regardless of what’s ahead, Mikkelsen said she, her family, and the companies they own will face it with the resilience they see in the industry they serve.

“I am optimistic as we enter this new year,” she said. “Farming is not going to slow down. They are vital, and they are resilient. They roll with the punches, and we will, too.”

Tiger Lights has been a member company since 2016. Learn more at tigerlights.com.

In spite of all that 2020 presented the shortline industry—and the world—Association companies reported that the chief threat to their profitability was an inability to attract a skilled workforce. The only other issue that broke apart from the pack of industry worries was the ag economy, and it garnered a feeble response compared to the challenge of staffing your operations.

You have employed a series of creative strategies to find the right people, but in the spirit of bringing you more, we call upon the expertise of Amy Elise Humphries with Driven Digital. She offers you these tips on turning your company’s website into a powerful recruitment tool.

Step One: Create a Careers Page

Careers pages are becoming increasingly important as a hiring tool. They account for 94.1 percent more hires than they did four years ago. A stagnant careers page with dated job postings, broken links, old news, and outdated content can result in good candidates leaving your website.

Kristine Sexter, an expert in manufacturing workforce development, suggests manufacturers market job opportunities on their website with the same focus they bring to marketing their products. It is an entry point to the opportunities and the culture.

Consider too everyone who might look at your careers page. Strive to design a resource in which they will see themselves as a fit regardless of their gender, experience level, or ethnicity.

Step Two: Make Your Process Mobile-Friendly

Nearly 54 percent of people who apply to manufacturing jobs do so on a mobile device. If your career pages are not mobile-friendly, you are missing qualified candidates. Today, 77 percent of Americans own a smartphone, edging higher than those with a desktop computer. Job seekers use mobile devices, and companies can recruit more competitively when they accommodate that preference.

Step Three: Simplify

Job seekers are committed to finding a job but are limited by time. Sexter advises: “Do not bury, nor make it difficult, for right-fit talent to find a list of your current openings and apply for them.”

A hard-to-use application process will shape how applicants see you as an employer. They will not hesitate to abandon an application process that is overly complex or difficult, especially if they have an alternative. Provide a simple way for them to upload their resume.

Research suggests that reducing the time it takes to complete your application by 10 percent can increase your applicant pool by 2.3 percent for mobile job seekers.

Step Four: Showcase Your Culture

Why should someone want to work for your company? Job seekers today want to know more about a company’s culture and reputation. You need more than a list of openings and responsibilities to hold their interest.

Share your company story with compelling content that distinguishes your organization. Post photos of the company picnic, your employee of the month, longtime employees, retirement parties, etc. Highlight your employer brand with information on company growth, benefits, job training, and community stewardship—anything that might resonate with the people you want to attract.

“Employees feel greatly honored when they know that their achievements are placed prominently on the main website for the whole world to see,” Sexter says. And, “research shows that customers, and potential customers, greatly want to do business with companies who value their workforce.”

Remember, focus on selling career opportunities online as fully as you focus on selling your products. Take some time to review your website and ensure that you are optimizing these strategies:
â—Ź Build, or build out, your careers page.
â—Ź Make it mobile-friendly.
â—Ź Simplify your application process.
â—Ź Showcase your company culture.

Amy Elise Humphries is the marketing coordinator at Driven Digital. The member company specializes in building websites for manufacturers.

I am no stranger to agriculture and farming; I grew up on a dairy farm in Lancaster, Penn., and despite youthful protestation, my family knew I would come back to my roots in the agriculture industry in one way or another.

As an international trade specialist with the International Trade Administration’s U.S. Commercial Service in Fargo, N.D., a significant part of my job is working with farm equipment companies, helping them sell their machinery all over the world. Darn it, my parents were right!

Fear of the unknown prevents many businesses from exploring exporting. Though exporting can raise unique challenges, only 5 percent of the world’s consumers live in the United States. Selling to exclusively domestic markets could significantly limit business potential.

In 15 years of experience in agribusiness and the farm equipment industry, I have recognized five guiding principles for export success that apply to any aspiring farm equipment exporter.

First, do your research.

Knowing the landscape and big players in an export market sets you up for success, but for many aspiring exporters, researching a new market can seem daunting and feel unlimited in scope. The U.S. Department of Commerce has a (REC) to make this daunting task easier and more accessible for farm equipment companies and other rural manufacturers.

Through the REC, companies can get customized research to help assess export potential, identify the best markets for products, learn about relevant industry trends in target countries and develop contacts in targeted overseas industries.

Leveraging the experienced research staff at the REC saves time and lowers the risk involved in export exploration. Through the REC, companies can access more than $1 million in proprietary databases to benefit their business. Contact them for a free consultation and quote on research options available to your business.

Second, prepare to invest.

The investment needs to include an explicit commitment to exporting at the most senior levels of the company, including human and financial resources dedicated to global expansion.

Business cultures in many countries rely more heavily on trust and relationships than the contractual and legal framework we know in the U.S. Building this trust requires time and investment in getting to know prospective overseas partners. Exporters will want to first build a personal connection to vet their potential partners and ensure they are capable of buying and managing the equipment in their country.

Of special note for farm equipment companies, the U.S.-Mexico-Canada Agreement (USMCA) has opened new opportunities in already successful export markets. From 2017-2019, the share of U.S. farm machinery exports going to Canada and Mexico was between 40-45 percent of the total farm equipment exports, and with the new USMCA, these markets are a good place to start for most companies looking to expand.

Though travel has become more challenging in the current environment, the U.S. Commercial Service has multiple that companies can use to make connections with potential partners overseas.

Third, leverage partners.

The International Trade Administration’s U.S. Commercial Service has staff in more than 100 U.S. Export Assistance Centers throughout the U.S. as well as a global network of staff in U.S. embassies and consulates in more than 70 countries, including staff specialized in agribusiness. These professionals stand ready to assist U.S. businesses with in-country partner searches and any other exporting challenges.

In addition to the U.S. Commercial Service, a wide variety of agencies such as the Export Import Bank, USDA’s Foreign Agricultural Service, and state trade offices can also assist U.S. businesses exploring exporting.

Businesses too time-strapped to tackle exporting on their own can even consider hiring an experienced export management consultant to handle that side of the business. Tapping into the U.S. Commercial Service is a great starting point to explore resources available to you. Get started at your .

Fourth, be specific.

As you plan for success with your overseas partners, be detailed and put into writing dollar figures, dates, responsible parties, key performance indicators and more. A common mistake among exporters is overreliance on goodwill and general promises. Overseas partners should always be willing to develop and discuss a detailed business plan for importing, including product positioning and sales targets.

This plan can also guide resource allocation for trade shows, advertisements, demonstration days, etc. With this plan in hand, exporters can then evaluate partner success and reforecast and plan accordingly.

Fifth, be patient.

Building relationships, committing to extensive travel, and navigating cultural differences can be intimidating and time-consuming. Exporting is a marathon rather than a sprint, but those who prepare and enter thoughtfully can set themselves up for the benefits of selling abroad.

Over the long term, exporting can help bring stability to business because a diverse client base is not as tied to one country’s market ups and downs, and the world’s geographic and meteorological diversity adds and lengthens equipment selling seasons.

To see how other companies use the U.S. Commercial Service, look at these from North Dakota and northwest Minnesota. Agricultural machinery manufacturers and dealers feature prominently in Commercial Service successes, and that trend should continue.

Heather Ranck is office director and rural team leader at the U.S. Commercial Service in Fargo, N.D. The service is a division of the U.S. Department of Commerce’s International Trade Administration. Contact her at Heather.Ranck@trade.gov.

“But do I have to buy it back?” After more than a decade of providing legal advice to members, this is the most common question put to me—by far. 

Disagreements between manufacturers and resellers (distributors or dealers) about post-termination equipment repurchase obligations are commonplace. They can blossom into full-blown lawsuits, especially when the underlying termination is not mutual. Indeed, they can be the tail that wags the wrongful termination dog.

A reseller displeased with a manufacturer’s response to a repurchase demand can lead to a claim that the manufacturer did not comply with the statutory termination process. And, coupled with the threat of attorneys’ fees, the dollars at stake can be significant. (I have handled several federal lawsuits about equipment repurchase where the amount in dispute is well into seven figures.) Given this, and because the pandemic will undoubtedly lead to an uptick in terminations, I thought a few repurchase pointers would be helpful. Here are five:

Start with the language in your written contract.

Any question—yes, any question—about a manufacturer’s relationship with a reseller begins with the language in the written contract. It is true that a state dealer statute may supersede the provisions in a contract, but that only happens if the statute applies. Ascertaining the application of a state dealer statute in a given circumstances may be easy, but it may not. On the other hand, if you and your reseller willingly agreed to your contract, then you can be sure its terms apply. 

Most contracts speak to all phases of a relationship: beginning, middle, end, and after the end. Repurchase rights or obligations, if any, will be in or following the provisions addressing termination. Sometimes a manufacturer has a right to repurchase product, which can be exercised at the manufacturer’s option. Sometimes a manufacturer has the obligation to repurchase.

Pay very close attention to the language, as it may include conditions about the circumstances in which this right or obligation can be invoked. Only after you have reviewed your contract should you consult the statute. 

Was there a termination? By whom?

Generally, repurchase obligations in dealer/distributor statutes only apply upon an actual termination of the relationship. Agreed upon reductions in territory, changes in product mix, or other modifications to the relationship generally don’t oblige a manufacturer to repurchase equipment. Who initiates the termination can also matter. At least a handful of state statutes limits a manufacturer’s repurchase obligation to when the manufacturer initiates the termination. If it is the reseller that issues notice of termination, the statutory repurchase obligation may not kick in.

Inventory requirement?

An inventory requirement is another common precondition for a statutory repurchase obligation. Several statutes only require repurchase if the agreement (which can be oral or in writing) mandates that the reseller maintain an inventory of the manufacturer’s equipment. Not having a written contract makes this difficult to determine.

“New, unused, undamaged, complete.”

Even where there is a repurchase requirement, not every piece of equipment must be repurchased. It is virtually unanimous among state statutes that only “new, unused, undamaged and complete” equipment must be repurchased. Now, one could argue that these terms are vague, but commonsense interpretations prevail. “New” means that a piece of equipment could be held out as such on the show room floor. “Unused” means that it is has not been sold, put in the field, and then returned. (Note that statutes often contain carve-outs for demonstrator models, however.)

As a backstop, statutes almost always specify a repurchase shelf life. Even if the equipment is new, unused, undamaged and complete, if it has been on the shelf too long, it does not qualify for repurchase. And remember, as the manufacturer, you have the unilateral right to inspect each and every piece of equipment to confirm it qualifies for repurchase. Horse trading often occurs during the inspection process.

Release.

While getting a written release is always preferable, if the termination and wind-down of the relationship goes smoothly, you may not need one. But if the repurchase is contentious, make sure you ask for one, even if that means putting more on the table than you had planned.  

These are just a few basic pointers to help you successfully navigate post-termination equipment repurchase. If you have more specific questions, please call or email. 

Trent Johnson is a litigator, business counselor, trial lawyer and the national co-chair of Foley & Lardner LLP’s Distribution & Franchise Practice. As a benefit of Association membership, companies are entitled to 60 minutes of confidential, no-cost counseling from Johnson on distribution and general commercial business issues questions. Contact him at (414) 319-7303 or tjohnson@foley.com.