The only solution I have found is to take out a banker's guarantee to cover
the payment to the agent for the period in which the agent is supposed to
transfer payments to publishers. In this case if payment is not made to
publishers the bank has to reimburse the payment. This does not help to get
hold of journals but at least should prevent loss of money.

Obviously, it is similar to insurance. It is reasonably costly and one has
to weigh up the pros and cons. I do not intend to make out another journal
order without including such a guarantee. If anyone else in my institution
decides not to go along with it (as a matter of interest, I don't see that
happening), at least I have a clear conscience that I did all I could to
prevent another divine fiasco.

Pamela Ben-Eliezer
Shaare Zedek Medical Library, Jerusalem, Israel

----- Original Message -----
From: "Fatmeh Charafeddine" <fc01@AUB.EDU.LB>
To: <SERIALST@LIST.UVM.EDU>
Sent: Thursday, September 11, 2003 10:45 AM
Subject: subscription agents guarantee

> After RoweCom bankruptcy our administration is demanding more
> documentation and some form of guarantee from the subscription agents
> before we pre-pay.
>
> What are libraries doing ? How can we make sure to get our many back in
> case of failure to fullfill commitment ?
>
> Any help will be great
>
>
> Fatme Charafeddine
> Serials Librarian/University Libraries
> American University of Beirut