Let's face it, there is nothing as awkward as begging a client to pay their bill and then having to hear all the lame excuses of how all will be paid by the end of the week....but it never is.  

 

If you are an individual to whom someone owes money, this could be quite irritating. If you are a small business to whom money is owed, this position can be devastating if not fatal.

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No money coming in means no money to buy stock, pay rent or maintain other services like internet, printing costs or staff. It is therefore essential for anybody, individual or business, to keep a tight leash on money owed to you.  

All this said, it's easier said than done. Commerce requires closing “the deal” quickly and if there is too much “red tape” the prospective client may take their business elsewhere. Sure, the risk of not being paid is gone but so is the potential business that could have brought in money.

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Taking the risk would mean that if the client doesn't settle their account, the due amount would either need to written off as bad debt or costly legal action would need to instituted for the recovery of debt.

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WHAT IF YOU DIDN'T NEED TO TAKE THIS RISK?

 

Perhaps you have figured out a way to secure your payment by getting a deposit, credit facility or having a 3rd party sign a security for the possible debt which may arise from the business that you are entering into.

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These are good ways of limiting your risk, that is if your business is able to accommodate them. Not every business has a credit facility to provide credit for their clients. Not every client has a once-off deposit available nor do many businesses have a willing 3rd party who will sign surety for any outstanding debt.

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Our firm has identified this specific problem in small businesses and with the help of technology, has developed a solution to address the issues faced by the business owner as well as that of their clients.

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THIS IS HOW IT WORKS

 

• Our firm facilitates and compiles a written agreement between the business and their client which is suitable to both parties.

• Thereafter, a non-reversible monthly deduction is automatically made against the client's bank account using our specialized software. In so doing, we are able to confirm when and if the client has made payment to the business, as well as give feedback to the client how much they still owe the business and when their last payment would be due.

• As the system is monitored by actual attorneys, should the need arise to employ any further recourse against a defaulter there is no delay in doing so.

• Our system is obviously used by our own firm and therefore we have firsthand knowledge of how it works and how it can be beneficial to your business.

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WE DO ACT AS CORRESPONDENT

We act as correspondent for many firms outside the jurisdiction of George, where we assist our various correspondent firms in compiling their court papers in the preferred way for the George courts in order to ensure a successful outcome.

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