How to reduce accounts receivable
Conclusion of the contract: check the buyer company, correctly draw up the contract, consider the possible motivation of the counterparty to timely return all funds, write down the possibility of further payment delay in the contract, set penalties for late payment for products, insure the risk of non-payment, check the signing of documents by the client and the number of documents.
Work with the client: classify the counterparty by the degree of risk, sign with him just in case an additional agreement on the issued commercial loan, set a certain credit limit, track all the correctness of filling out primary documents, be sure to track the fact of payment and remind the buying company about the occurrence of time payments, charge penalties on overdue payments, track the current solvency of the counterparty and new purchases of the founders and management of the company.
The formation of arrears. Here it is necessary to understand which fact served as the basis for a delay in receivables or a final default. To do this, get all the documents in your hands, so that if necessary you can bring them to the established form, find all reliable information about the client's solvency, negotiate a return of the debt. In the event that the counterparty returns the debt, you can continue working with the debtor, but then lower the credit limit for it and set a different degree of risk to it.
Make a binding decision with legal implications. Thus, it is decided which method can be used to claim the debt: in insurance or in court, in the procedure for granting the assignment of the right of claim, in the order of transferring the debt, and also in the order of the contract-order. After the decision is made, take all actions with legal consequences.
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