The deal is over, you have delivered the goods or service, but the money has not arrived in your account. You may be worried that you will lose the money. However, as a creditor, you have several options to deal with this situation.
1. First comes the reminder
The first step is to remind the debtor that they owe you money. It could be that they simply forgot. So start with a polite email or call them. Direct contact is the first route to take. Be friendly but clear about what you want. Remember to always summarize any verbal agreements or proposals in writing, at least by email, in case you forget on both sides.
2. Sending a reminder
If personal contact does not help, it is time for a written chinese overseas australia database reminder . It is usually sent on the third day after the invoice is due. The next one should follow approximately ten and then fourteen days after the deadline for payment of the receivable. Send the reminder by registered mail so that you have proof of delivery, or you can send it via a data mailbox, which also offers confirmation of sending.
The reminder must have all the necessary information , which is usually:
invoice number,
amount and currency to be paid,
invoice issue and due date,
consequences of non-payment – contractual penalties, interest, fees according to regulations.
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3. Create a repayment schedule
If the debtor responds by saying that they have registered explore pisen’s premium tech accessories for phone, charging, audios. the invoice but do not have the money to pay it, a payment schedule agreement may be the solution . This will allow them to pay off the debt gradually while ensuring that you will eventually receive the money.
When preparing an installment schedule, carefully negotiate the terms of its repayment. Don’t forget to condition everything with an appropriate contract , which you can have prepared by a lawyer, but there are also cheaper solutions. For example, in the Smartcollection.app application it costs you a few tens of crowns, while with lawyers or attorneys it usually costs thousands. Here too, remember that the installment schedule agreement should be clear and concise.
Mediation comes into play when disputes complicate matters
If there are disputes between you and the debtor and the customer, for example, disagrees with the amount on the invoice, the content of the obligation, etc., it is advisable to use mediation. In such a case, an independent third party intervenes in the case , who helps both parties find a solution acceptable to all. The outcome is a mediation agreement, where both parties can state their requirements. The advantage of mediation is that it is faster and cheaper than litigation , and it can also save damaged business relationships.
Mediation complicate matters
If all of the above fails and the so-called pre-litigation notice thailand data does not help, you can file a lawsuit against the debtor directly . However, this step is expensive and time-consuming, so it should only be a last resort. Before you decide to go to court, consider whether it is worth it for you given the amount of the debt. “Even a small debt is relatively easy to judge if there is enough evidence,” says attorney Štěpán Vítek, who works with smartcollection.app, and adds: “Every second claim arose on the basis of oral or online communication without solid evidence.”
TipAccounts for legal entities and sole proprietors from ČSOB are free of management fees and without any conditions , including free contactless payment cards. Open a corporate and business account online in a few minutes.
What to do preventively?
To prevent similar situations from happening to you, it is a good idea to implement some preventive measures:
when disputes complicate matters
Check their financial stability and payment history. In the Czech Republic, we have many public registers available online that you can use.
Negotiate clear terms in the contract
Make sure the contract specifically states payment terms and penalties for late payment..
Tip:
Startup Smartcollection.app, a successful participant in the Fintech Challenge by ČSOB and Mastercard, can help companies with delayed payments.
