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Category Archives: Insolvency
Any person who elects to become a Director of a Company is likely to be aware of the onerous fiduciary duties that will be imposed upon them, and the serious implications that can follow from a breach of these duties. … Continue reading
In December 2014 the EU announced new regulations that are aimed at recovering and rescuing struggling businesses, rather than allowing them to fail. EU Justice Commissioner, Věra Jourová, confirmed that the new rules will give “viable businesses a much-needed second … Continue reading
Cash flow remains a key concern for Companies with a number of Companies juggling their creditor’s demands for payment. Our experience is that the average number of days for payment of an invoice continues to increase which in turn is … Continue reading
It is a fact that there is little point chasing a “man of straw”. The difficulty is not normally accepting this as a fact but identifying whether a particular debtor is indeed a man or company of straw. There are … Continue reading
Debt Recovery: Fact Sheet 6; Simple steps to improve your account opening process – but will this help your internal credit control?
Many difficulties faced by businesses in their credit control procedure stem from defects in the initial account opening process. Where a business grows, it might be that the account opening process is not updated to reflect problems that are experienced … Continue reading
There are steps you can take as a business, to “spot” the signs of insolvency. This is important for two reasons; 1. If you continue to supply goods or services to a business that you fear might be facing insolvency, … Continue reading
Debt Recovery: Fact Sheet 4; Simple steps that you can take to improve your internal debt recovery rate.
DELIVERY OF AN INVOICE; Ensure that an invoice is delivered promptly and accurately and that the invoice states the customer’s full name. Make sure that you are able to clearly and correctly identify your client’s name and status – … Continue reading
Debt Recovery: Fact Sheet 3 – What can you do when you hear that a debtor is insolvent? What does this mean for you as creditor
More frequently, we are approached by clients who have “heard” that their debtor is insolvent. It might be that the business has heard this on the grapevine, or that they have heard informally from the debtor. Alternatively, a business might … Continue reading
The Importance of your Terms and Conditions When taking steps to improve your internal credit control function, one of the key things to get right is your customer facing terms and conditions. A well drafted set of terms and conditions … Continue reading
Debt Recovery: Fact Sheet 1 – Simple steps to improve your debt recovery – focusing on your sales team!
There are many things that a business can do to help improve its debt recovery. Many of these are simple and free. Businesses often do not think about credit control, until after an invoice becomes overdue. Businesses should focus on … Continue reading