In March 2019, facing an estimated 2,600 lawsuits1,2 relating to its role in creating the opioid epidemic, Purdue Pharma — the maker of OxyContin — announced the company was considering filing for bankruptcy protection.

Around that same time, New York expanded its lawsuit against the company to include allegations that company funds had been fraudulently transferred into trusts and offshore accounts owned by members of the Sackler family in an effort to shield assets from litigation.3,4 In all, court documents reveal the Sacklers transferred more than $10 billion of the company’s funds into family trusts.5

How this does not fall under the fraudulent conveyance statutes, which is attempting to avoid a debt by moving assets to another person or legal entity, boggles my mind. It appears the only reason they got away with this is they found the loophole of transferring their assets offshore.

The New York complaint also charged Purdue with secretly setting up a new company, Rhodes Pharma, in 2007 while the company was being investigated by federal prosecutors, as a way to protect the Sacklers from the mounting OxyContin crisis and continue their profit scheme.6 Rhodes Pharma makes generic opioids, allowing the Sacklers to benefit from the opioid epidemic both in terms of brand name sales and generic sales.7

Rhodes Pharma and Richard Sackler also hold the patent to a new, faster-dissolving form of buprenorphine, a mild opioid drug used in the treatment of opioid addiction,8 allowing the Sacklers to further profit from the addiction crisis they helped instigate, the economic burden of which is costing the U.S. an estimated $504 billion a year.9

Indeed, according to a lawsuit filed in Massachusetts,10 Purdue Pharma and the Sacklers sought to increase opioid prescriptions while simultaneously developing overdose treatment to boost its profits.

US Government Enters Opioid Business

Purdue finally filed for Chapter 11 bankruptcy in September 2019.11 At the end of October 2020, Purdue Pharma agreed to plead guilty to three federal criminal charges relating to its role in the opioid crisis, including violating a federal anti-kickback law, conspiracy to defraud the U.S. government and violating the Food, Drug and Cosmetic Act.12,13

To settle the charges, Purdue is supposed to pay $8.3 billion in fines, forfeiture of past profits and civil liability payments.14 However, the company doesn’t have enough cash to cover the payments so, instead, Purdue Pharma will be dissolved, and its assets used to erect a “public benefit company,” in other words, a government-owned and controlled drug company.

The estimated financial cost of opioid addiction and death in the U.S. was $504 billion in 2015. In addition to health care costs, criminal justice costs and lost productivity due to addiction or incarceration, this figure also takes into account projected lost earnings and the value of statistical life for people who died prematurely.

This new company will reportedly be controlled by a trust that will “balance the trust’s interests against those of the American public and public health.”15 Future earnings from this public benefit company will be used to pay off the $8.3 billion penalty, which in turn is supposed to be used to combat the opioid crisis.

This is a remarkable development, and one wonders just how functional this setup is going to be. In essence, the government will now be in the business of making and selling opioids, the profits from which will then be used to combat opioid addiction. It seems like a circular and rather illogical setup. According to CNN:16

“Deputy Attorney General Jeffrey Rosen, who announced the settlement, defended the plans for the new company to continue to sell that drug, saying there are legitimate uses for painkillers such as OxyContin.”

Sackler Family Walk Away Scot-Free, Again

The Sackler family, meanwhile, have reached a separate settlement in which they will pay $225 million in civil liability for causing false claims about OxyContin to be made to Medicare and other government health care programs.17

While the agreement does not release the Sacklers from potential criminal liability, it seems the family will walk away scot-free. And, considering they already transferred some $10 billion into their family trusts, the $225 million fine is a very small fraction, so they won’t end up wanting financially either.

Proving they have no remorse, Sackler family members, in a recent statement, shifted blame for the company’s illegal activities on its managers, saying they “relied on management assertions the company acted lawfully.”18 This, even though several Sackler family members sat on the company board and were intimately familiar with the company’s marketing strategy.

It’s unclear whether this DOJ agreement affects or includes the Sacklers’ other opioid company, Rhodes Pharmaceuticals. If not, it falls short in that respect too, since they would then be able to continue their opioid business. Between 2009 and 2016, Rhodes’ market share of opioid sales actually exceeded that of Purdue itself.19

Aside from Purdue and Rhodes, the Sacklers have also profited from Napp Pharmaceuticals, a Cambridge-based drug company that manufactures — you guessed it — opioids.20 In 2018, seven family members resigned from their directors’ posts at Napp following a string of bad publicity relating to alleged tax evasion schemes.

Mortimer Sackler, since deceased, was found to have avoided paying income tax, capital gains tax and inheritance taxes in the U.K. by falsely claiming non-domiciled status. The family was also accused of using a Bermuda-based company to avoid paying corporate taxes for Napp Pharmaceuticals.21

Penalties Still Won’t Cover States’ Claims

Even though $8.3 billion is a record-breaking settlement, states have filed claims exceeding $2 trillion in Purdue’s bankruptcy case, and according to a November 2017 report22 by the White House Council on Economic Advisers, the estimated financial cost of opioid addiction and death in the U.S. was $504 billion in 2015.

In addition to health care costs, criminal justice costs and lost productivity due to addiction or incarceration, this figure also takes into account projected lost earnings and the value of statistical life for people who died prematurely.

In response to the Justice Department’s settlement with Purdue Pharma, 25 state attorneys general sent a letter23 to U.S. Attorney General William Barr, in which they object to the settlement and argue against the government getting involved in the opioid business. The letter, dated October 14, 2020, reads in part:24

“We write to ask you to revise a proposed DOJ settlement agreement that reportedly would wrongly mandate that Purdue Pharma’s infamous OxyContin business be preserved as a public trust.

A business that killed thousands of Americans should not be associated with government. Instead, the business should be sold to private owners, so the government can enforce the law against it with the same impartiality as for any other company …

The role of government in any OxyContin business should be to enforce the law, just as against any other company. The public deserves assurance that no opioid business is given the special protection of being placed under a public umbrella.

Although it may take time to find a private sector buyer, the public should be confident that public officials are seeking to avoid having special ties to an opioid company, conflicts of interest, or mixed motives in an industry that caused a national crisis.”

Connecticut Attorney General William Tong also told CNN:25

“This settlement provides a mere mirage of justice for the victims of Purdue’s callous misconduct. The federal government had the power here to put the Sacklers in jail, and they didn’t. Instead, they took fines and penalties that Purdue likely will never fully pay.

Every dollar paid here is one dollar less for states like Connecticut trying to maximize money from Purdue and the Sacklers to abate the opioid epidemic. Preserving Purdue’s ability to continue selling opioids as a public benefit corporation is simply unacceptable.”

How Purdue Launched and Fueled the Opioid Epidemic

In previous articles, I’ve discussed the role false advertising played in the creation of the opioid crisis.26 To recap, a single paragraph in a 1980 letter to the editor27,28 (not a study) in The New England Journal of Medicine — which stated that narcotic addiction in patients with no history of addiction was very rare — became the basis of a drug marketing campaign that has since led to the death of hundreds of thousands of people.

Purdue Pharma used this letter to the editor as the basis for its claim that opioid addiction affects less than 1% of patients treated with the drugs. In reality, opioids have a very high rate of addiction and have not been proven effective for long-term use.29

Research30 published in 2018 also shows opioids (including morphine, Vicodin, oxycodone and fentanyl) fail to control moderate to severe pain any better than over-the-counter drugs such as acetaminophen, ibuprofen and naproxen.

Various court cases have demonstrated how Purdue systematically misled doctors about OxyContin’s addictiveness to drive up sales. The inevitable result of Purdue Pharma’s ruthless and immoral marketing campaign has been skyrocketing opioid addiction, which killed 46,802 Americans in 2018 alone.31

Adding insult to injury, when it became clear that people were dying in droves from opioid overdoses, Purdue launched an extensive damage-control operation that included the suggestion that those dying from opioids were already addicts, and that this wouldn’t happen to patients who were not already addicted to drugs. The company also sought to cash in on the rising addiction trend twice by getting into the business of creating overdose treatments.

Opioid Misuse Paves Way for Heroin Addiction

Perhaps most egregious of all has been the reckless prescribing of opioids to young people. Here, dentists have been a major part of the problem, as opioids are frequently prescribed when extracting wisdom teeth.

Insurance claims data from 2016 and 2017 reveal 60% of children between the ages of 1 and 18 with private insurance filled one or more opioid prescriptions after surgical tonsil removal,32,33 and dentists wrote a staggering 18.1 million prescriptions for opioids in 2017.34

As noted by Ronnie Cohen in a March 2019 article35 in The Washington Post, “until recently, dentists seemed to have had no idea they may have been helping to feed an epidemic that resulted in a record 70,237 U.S. drug overdose deaths in 2017.”36

But contribute they have, and according to data37 from the University of Michigan, 31.8%, or just over 1 in 3 people who misused opioids during their high school years ended up using heroin by age 35. Data from the National Institute on Drug Abuse also confirms that prescription opioid use is a significant risk factor for subsequent heroin use:38

Incidence of heroin use was 19 times higher among those who had used opioids nonmedically than among those who had not used an opioid
86% of young, urban injection drug users had used opioid pain relievers nonmedically before starting heroin. The three primary sources of opioids were family, friends and personal prescriptions. This is the reverse trend from the 1960, when more than 80% of those who started abusing opioids had started with heroin
Of those who began abusing opioids in the 2000s, 75% reported that their first opioid was a prescription drug
Nearly 80% of heroin users reported using prescription opioids prior to heroin

Struggling With Opioid Addiction? Please Seek Help

Regardless of the brand of opioid, it’s important to realize they are extremely addictive drugs and not meant for long-term use for nonfatal conditions. Chemically, opioids are similar to heroin, so if you wouldn’t consider shooting up heroin for a toothache or backache, seriously reconsider taking an opioid to relieve this type of pain.

The misconception that opioids are harmless pain relievers has killed hundreds of thousands, and destroyed the lives of countless more. In many cases, you’ll be able to control pain without using medications.

In my previous article, “Billionaire Opioid Executive Stands to Make Millions More on Patent for Addiction Treatment,” I discuss several approaches — including nondrug remedies, dietary changes and bodywork interventions — that can be used separately or in combination to control pain, both acute and chronic.

If you’ve been on an opioid for more than two months, or if you find yourself taking a higher dosage or taking the drug more often than you initially did, you may already be addicted. Resources where you can find help include the following.

Your workplace Employee Assistance Program
The Substance Abuse Mental Health Service Administration39 can be contacted 24 hours a day at 1-800-622-HELP

You can also learn more in “How to Wean Off Opioids.” I also recommend keeping an eye out for my upcoming article about how low dose naltrexone (LDN), an opioid antagonist, is being used at ultra-low micro doses of 1 microgram to successfully treat opioid addiction.

Original Source: articles.mercola.com

Alteria Capital, which provides loans to startups, is one the three large companies that dominates India’s venture debt market. It was started by Vinod Murali and Ajay Hattangdi, former executives of Temasek-owned InnoVen Capital, which is among the three major venture debt firms in India. The third in the pack being Trifecta Capital. Venture debt or venture lending, simply explained, is debt financing typically for venture-backed companies. Unlike traditional bank loans, venture lending caters to startups and growth companies that may not necessarily have positive cashflow or hard assets to show as collateral.

“Venture dent is a mechanism for founders to reduce dilution when everything else is attractive. This is not a bailout product, this is not a last resort. It is the way you can optimise a good situation and make it even better,” says Alteria Capital Managing Partner Vinod Murali, during a late August chat with YourStory Founder and CEO Shradha Sharma.

Alteria Capital has 28 companies in its portfolio including the likes of hyperlocal delivery startup Dunzo, online learning platform Toppr, student housing startup Stanza Living, scooter rental platform Vogo, and digital lender Lendingkart.

“It (venture debt) provides you insurance, it provides you time, it gives you that extra oxygen which you may need, that you don’t know if you have a necessity (for) or not, up front. In February, nobody thought the rest of the year was going to play out like this, nobody would have forecast that,” says Vinod. 

As the novel coronavirus or COVID-19 continued to spread rapidly across the world, it was declared a global pandemic by the World Health Organization (WHO) in March. The unforeseen event and its adverse impact has left several businesses and economies across the globe reeling. The International Monetary Fund (IMF) has called it a “crisis like no other’ and its June projection estimates the global economy to grow at – 4.9 per cent in 2020, 1.9 percentage points below its April 2020 World Economic Outlook (WEO) forecast. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast, according to the IMF

“It’s like an umbrella you buy before it starts raining, once it starts raining everything gets expensive. Before it starts raining you grab it, keep it. If you don’t use it, great for you, if you use it, you’ve always had it with you — that's venture debt. It’s a debt product, it’s a monthly repayment of principal and interest but it gives a little bit more time for founders,” explains Vinod, who is an IIT-IIM alumnus.

The venture debt market in India is seeing transactions upwards of 300 million to 400 million in a year, with 80 per cent to 85 per cent of it being financed through the three large players Alteria, InnoVen and Trifecta, according to the former Citibank executive.

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Capital in the times of COVID-19

The pandemic has been a difficult time for most businesses, as cashflow has dried up for many. Capital has been critical for several companies to stay alive. While debt financing may be one of the options to raise capital, it could also sound the death knell for some, warns Vinod.

He explains, “While there is a fairly overwhelming need for capital I think it’s also important to distinguish as to what may be appropriate (depending on) what kind of companies, what kind of situation, because you can take a lot of equity and it will be sub-optimal (and) you don’t kill the company but if you take a lot of debt you can actually kill the company. So one needs to be very careful both founders and lenders alike in figuring out what the right fit is.”

Money

Taking on too much debt can kill a company, warns Vinod.

Vinod stresses upon the fact that venture debt is definitely not the right fit for all in need of capital.  “It’s not meant for all companies, I’ll be the first one to say that. Historically, we have seen 25 per cent -30 per cent of funded startups to be appropriate for venture debt and it may seem like an astonishingly small number but the reason is every single company that has taken venture funding is equity funded,” he says.

Alteria spent March to May largely figuring out what its portfolio needed. “We were in firefighting mode, which I think is true for most of the ecosystem,” says Vinod while adding that since June there’s been a lot more understanding on what’s working and where the damage is most heavy. “So we have also managed to calibrate and figure out which are the newer areas in which we can participate and help provide more capital to companies,” he says.

Unsurprisingly, edtech is one the sectors doing well through the pandemic and thus attracting deals from investors. However, even if a startup is part of a sector that is seeing tailwinds, it is important to have a differentiation factor to be able to seal deals with potential investors, according to Vinod.

“It’s not just that if you are an edtech company, everybody wants to give you money. You have to assure you are a good edtech company and you are showing some differentiation. There is a reason why companies are attractive and it’s not just the market,” he says.

Watch the full conversation here:

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During the current times, raising venture debt over venture funding may make sense for several startups, as the pandemic has hit many of their valuations hard. Raising capital through venture funding is likely to force many startups to dilute their equity heavily, making venture debt a more attractive option.

For businesses from the worst hit sectors, however, there is little or no interest from venture capital and venture debt firms alike. “There are some sectors that are fairly badly hit that involve physical community, which involves interaction necessarily for the way in which the way the business is done and this could be across travel, hospitality, offline retail, and all of those are going to take a long time to recover. And we are seeing low to no equity interest in those spaces, so consequently from a venture debt perspective these companies would be difficult to target right now,” says Vinod.

Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.

Original Source: yourstory.com

Fintech platform MobiKwik on Tuesday said it has promoted Chandan Joshi as the co-founder and CEO (Chief Executive Officer) of the company's payments business.

Joshi has been part of the MobiKwik leadership team for the last 2.5 years as senior vice president, payments, a statement said.

"This is the first time the company has bestowed the co-founder title on anyone outside the original founding team. The company has kickstarted its IPO 2022 campaign with this major appointment," it added.

Previously, Joshi had founded Paketts, a last-mile logistics service company, and exited the business after Paketts was acquired by Nuvo Logistics (Peppertap) in 2017. Prior to being an entrepreneur, Chandan was a financial trader in global financial markets with Credit Suisse in London and Hong Kong.

MobiKwik co-founder and CEO, Bipin Preet Singh, said:

"Chandan has demonstrated all the right traits that we look for in a business leader – he leads from the front, is invested in his teams, is tenacious in driving business results and in closing large strategic deals. He has been a strong growth driver for MobiKwik and we want him to partner with us as a co-founder in the overall build-out of the company."

In its recently published financial year 2020 annual report, the company had reported net revenue growth of 133 percent year-on-year to Rs 379 crore, and cash EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) loss reduction of 91 percent y-o-y to Rs 8.5 crore.

"My journey with MobiKwik so far has been very fulfilling – I joined in the aftermath of demonetisation and my first assignment was organising the retail payments business, then to run ecommerce payments and finally to grow all of the Payments business…I am confident that together we will be able to profitably grow MobiKwik and take the company public," Joshi said.

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As CEO of the Payments business, Joshi will take on complete ownership of the company's flagship Payments Business which drives 75 percent of the revenues. While he was already driving the business (Sales, Marketing, Product, Engineering) in his existing role, all functions in the payments business unit will now report into him, the statement said.

MobiKwik has two business verticals – payments and fintech (includes credit and insurance).

Bipin Preet Singh is the CEO of the overall business.

Edited by Megha Reddy

Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.

Original Source: yourstory.com

Route Mobile, a cloud communications service provider, on Tuesday said it had garnered Rs 180 crore from 15 anchor investors ahead of its initial share-sale offer that opens for public subscription on Wednesday.

Goldman Sachs, Franklin Templeton Mutual Fund, SBI Life Insurance, Kuwait Investment Authority, Vantage Equity Fund, Axis Mutual Fund, Macquarie, and SBI Mutual Fund are among the anchor investors, according to information available with stock exchanges.

Route Mobile has finalised allocation of 51,42,856 shares at Rs 350 apiece to 15 anchor investors. Based on the price, the total proceeds would be to the tune of Rs 180 crore, it added.

The company proposes to raise Rs 600 crore through the initial public offer (IPO), which comprises fresh issue of shares worth Rs 240 crore and an offer for sale (OFS) of Rs 360 crore by promoters Y Sandipkumar Gupta and Rajdipkumar Gupta.

A price band of Rs 345-350 apiece per share has been fixed for the IPO that will open on September 9 and conclude on September 11.

The company proposes to utilise the net proceeds towards funding for repayment or pre-payment, in full or part, of certain borrowings of the company; acquisitions and other strategic initiatives; purchase of office premises in Mumbai; and general corporate purposes.IPO

Image Source: Shutterstock

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The company received approval from markets regulator Sebi in December 2019 to float IPO.

The cloud communications service provider had initially filed for its IPO in January 2018. Later it refiled its document in October 2019. According to market sources, the company failed to bring its IPO even after receiving approval in 2018 because of unfavourable market conditions.

ICICI Securities, Axis Capital, Edelweiss Financial Services, and IDBI Capital Markets & Securities are the managers to the issue.

Route Mobile does not have a direct comparable listed peer in India. It will become the second firm in the larger mobile communication services after Affle India.

(Disclaimer: Additional background information has been added to this PTI copy for context)

Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.

Original Source: yourstory.com

Plumbing emergencies can occur when we least expect them. After all, that’s what the emergency is all about. Knowing what to do when there’s an emergency in your house is key to smiling again. 

The best course of action is to find solutions to the problem. You need to find an emergency plumber in your city. A plumber you can rely on to quickly attend to your call with urgency.

According to the Design Criteria for Sewers and Watermelons that was released by the City of Toronto, “plumbing emergencies happen all the time. Whether it’s on the kitchen, bathroom, or pipes, attending to it with urgency can prevent further costly damage.”

An emergency plumber should be able to fix problematic sinks, drains, pipes, and toilets — and restore your home as it was before the emergency. There are thousands of plumbers in your city right now, the real challenge is knowing which professional to trust to have a successful outcome.

It’s not enough to choose a plumber next to your house, make sure you analyze their plumbing services. Make sure the plumber you eventually hire actually offers emergency plumbing repair services. A general plumbing company may not get the job done.

You don’t want to risk calling a plumber who will not treat your case with any urgency. Find an emergency plumber in Toronto, CA that offers the exact services you need. This is a great way to narrow down the list of local plumbers that may be vying to do the job.

That being said, here are 8 effective ways (and questions) you should ask an emergency plumber:

Verify Insurance Coverage

According to Adrian Mak, “Plumbers insurance can provide financial protection for your business if someone is injured by your business or if your business damages property.”

You want to make sure you’re hiring an emergency plumbing company that has insurance coverage. 

Most plumbing companies will carry two kinds of insurance:

Workers’ compensation insurance
Liability insurance

So you should ask about these two types of insurance coverage before moving forward. If you’re wondering what the difference is, here it is in a nutshell:

Workers’ compensation is a type of insurance coverage that attends to works who are injured while executing their duties at work. There should be adequate payout provisions for them.

Liability insurance coverage, on the other hand, covers the plumbing professional for damages that his team caused on your home or belongings while performing their duties. If an insurance company causes any form of damage to your home, you can capitalize on the liability policy to get the necessary backup and repairs.

 

It may not seem necessary to check for insurance coverage with a plumbing company you’re hiring to do emergency repair services, but you should do it to save both the plumber, the workers, and your home. 

 

Emergency plumbing repairs require urgent action, which could lead to unintended consequences if the plumber isn’t experienced or lacks the right tools for the repairs.

Cost may be the only factor you might want to reconsider when asking about insurance coverage from your plumbing company.

This is because it’ll be more expensive when you hire a plumber with insurance coverage than plumbers that don’t have it. But the added cost will be well worth it there’s a damage on your home/property or the workers get injured.

Ask Around For Recommendations

If you don’t have a reliable plumbing company to call, you should ask around for recommendations from family members, neighbors, co-workers, and friends. 

If you know or have heard good things about a local plumber who provides reliable results, you can consult them as well. 

Recommendations from those you know are invaluable because they’re often unbiased and objective. 

So you’ll be given all the pertinent information from the person recommending the professional to you. When this happens, you’ll be able to know firsthand what you can expect in terms of pricing, overall efficiency, and above all, customer service.

How is the Pricing Determined?

Another factor that will guarantee that you hire the best emergency plumber in your city is the pricing model. Is it hourly or fixed? Since the average cost to hire a plumber is between $125 – $350, it’s best to know how this works out hourly or otherwise.

Sometimes, a friend or co-worker can refer a reputable emergency plumber to you. This might be the best way to get access to plumbers who can get the job done the first time.

A plumber may offer both hourly and fixed pricing structures but it all depends on what the client wants. The best way to save some money, though, is to stick with fixed pricing. Because if a plumbing company estimated that the project could take 2 hours to fix, what’s the guarantee they’ll deliver an excellent result?

You want to avoid surprise bills when the repair job is completed. If the plumbing company you hire insists on an hourly pricing structure, ask him/her, in their experience fixing emergency damages, how long your project should take. 

An experienced plumber should be able to give a good estimate of the time after a proper inspection of the damage. If the repair is obvious, (i.e., the pipes are accessible) you might want to stick to hourly pricing structure — otherwise, insist on a fixed rate.

Licensing

Before you hire an emergency plumbing company, you need to ask the plumber if they have the necessary licenses to practice. Although it depends on your state or city because not all states require licenses to operate. 

If the plumber doesn’t carry a license, ask why. Often, a plumbing company that has a license is certified and you can be sure they have passed a state examination. 

However, a license will not get the repair excellently executed. That’s why you must never be fooled by it. What a business license simply means is that the plumber is eligible to practice in your state or city. 

Above all, make sure the license isn’t just for any type of business but for professional plumbing practice. 

Know the Estimated Total Cost of Fixing Your Plumbing Problem

When you have found a reliable emergency plumber, it’s time to know firsthand what the total cost will be. 

We talked about knowing the pricing structure earlier, so if it’s hourly, how many hours will it take to repair the damage. And how much do they charge per hour?

As a homeowner, don’t completely rely on quotes you receive over the phone or via email. A trusted and reputable plumbing company will likely not give you a quote until they have properly inspected the problem. 

They want to know if it’s piping-related or a clogged sink. It’s always better to hire an experienced plumber because they’ll often include the cost of new parts needed for the repair. 

Don’t just assume they’ll get the job done based on the quote they sent you, you must confirm with the plumber if the price estimate includes both parts and labor cost.

 

Warranties and/or Guarantees For the Repairs 

How long will the repair work last? An experienced plumber should be able to make guarantees with a few exceptions. After the repair is completed, a plumber that stands behind what they have done will not be afraid to offer warranties and/or guarantees for their work.

If they’re scared to do that, then it’s obvious they don’t even trust their expertise in emergency repairs. Both for labor and material (parts used in the repairs), there should be a warranty. 

A homeowner needs to have that peace of mind after spending money on emergency plumbing repairs. A warranty or guarantee of up to 12 months is expected. However, it all boils down to the level of damage, and whether or not a part of the plumbing system was replaced or repaired.

If the plumber or company you speak to doesn’t offer any warranties and/or guarantees for their work, it’s a sign you should pass on that plumber or company. 

You should only work with those plumbers that give a cast-iron guarantee and/or warranties for their work. 

Are There Any References?

What do clients say about the plumbing company you want to hire. If you found them online, you need to read up a few reviews to know whether their past clients were happy or regretful.

A reputable emergency plumbing company that has been in the trenches for years will have garnered lots of references, comments, testimonials, success stories, and ratings from homeowners and clients.

So, it’s important to hear what other people think about the professional you intend to hire. Past clients are in a better position to describe the quality of their customer service, how efficient they are, and how they respond in case something happens after the repair is done.

Reputable plumbers like to talk about their clients even before you ask them. Because they know that new clients will be thrilled to experience the same treatment as happy clients. If you want to do a little digging, then you can look up their name or company name online to find customer reviews and ratings.

When a professional plumber isn’t excited about giving you a list of references to contact (if you want to), you should see this as a red flag. You might want to look elsewhere for an emergency plumber.

Conclusion

With a plethora of plumbing companies in Toronto, it’s becoming more difficult to find a reliable and efficient plumber to handle your emergency repair services. 

Every aspect of a plumbing system is delicate and must be handled by a professional — otherwise, it could lead to the collapse of your entire plumbing system.

It’ll cost you a lot more money to fix the damage before getting to the main emergency work. That’s why you should carefully choose wisely. You can call us if you need an emergency plumbing services.

The post How to Hire the Right Emergency Plumbing Company (And Save Money) first appeared on Anta Plumbing Blog.

Original Source: blog.antaplumbing.com

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