Payment Agreement and Notices
When a debt is subject to a Fast Track Payment Agreement the chances of not recovering payment or incidental costs is vastly reduced.
When a debtor asks for time to pay, subject to your acceptance of a Payment Plan Offer, we are able to quickly make a binding Payment Agreement between you and the debtor incorporating our copyright protected Fast Track Payment Agreement Terms & Conditions. These agreements are made electronically following the submission by the debtor of a Payment Plan Offer via an exclusive online portal and subsequent acceptance by you and are usually binding within 24 hours of the offer being received. If a debtor breaches a Fast Track Payment Agreement enforcement and recovery becomes much simpler and more certain.
Giving a Final Notice to a Debtor
An effective Final Notice or Overdue Account Letter is an essential component of every business’ Debtor Management Procedure. For a free Sample Debtor Management Procedure download our “6 Steps to Improving Cashflow: A Guide to Better Credit Management”
Your Overdue Account Letter will be more effective if you make business contracts that: Include a right to recover enforcement costs in addition to the debt, should external collection action be required, Create personal guarantees and other security for payment over land and personal property. When a debtor becomes aware that you intend to invoke these rights it will often prompt them to reprioritise their liabilities and make payment to your business.
Every business has a right to be paid in a timely manner. The need an effective credit and collection policy which can make the difference between being paid and not being paid.
By using our experienced and tenured experts in executive level billing, improvements on long billing cycles by enacting an auto-billing and contact system.
A good Debtor Management Procedure should be simple to understand and followed strictly by staff.
Skip tracing is important in the rapid recovery of your assets and some consider professional skip tracing to be an art.
WeCommunicate personally handles all large claims. We have 20 years of business and negotiation experience, closing over $500 million of transactions all over Australia.