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If payments don’t arise out of genuine commerce transactions, they’re called lodging payments. They are known as ‘kite bills’ or ‘wind bills’. Two events draw payments on one another purely for the purpose of mutual financial accommodation. These bills are discounted with bankers and the proceeds are shared amongst themselves. On the due dates, they are paid.
The iTie was began in August of 2008 after shedding my full time place at a Fortune 500 company. I was capable of file the patent, start the web site, establish and set up a manufacturing relationship, and obtain my preliminary stock. Over the previous 2 years, I have been in a position to sell over 1 thousand iTies and Anchor Ties (rebranded in 2010 to Anchor Neckwear) with little or no capital and advertising resources. The product was endorsed by the late Billy Mays and Pitchman Anthony Sully” Sullivan.
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