In the midst of tightening trading conditions, the importance of having a strong set of Terms and Conditions of Trade cannot be emphasised enough. Implementing a robust application process and having reliable terms and conditions which can be confidently sued upon is essential to minimise the risk and impact of bad debts.
A quality suite of commercial documents should encompass the following essential protections:
The foundation of a solid credit management process lies in capturing all vital applicant information. Ensure your credit application includes details such as the trustee name and ABN for a trading trust, as well as the ASIC registered office for service of legal documents if necessary. It is also crucial to gather all digital forms of contact, such as direct email addresses and mobile numbers.
Key provisions should include:
If your business involves credit extended to customers, a Deed of Guarantee and Indemnity is an invaluable tool to secure your interests. Ensure that this stand-alone document includes provisions such as:
In the meantime, if you require assistance with debt recovery matters, you will find a convenient link at the top of this page to AMPAC’s Debt Placement Form. Here you can submit a new mater for collection and attach all relevant documentation.
Do you have debt that needs recovering? Are you unsure on where to start? Contact AMPAC Debt Recovery for solutions today and speak to one of our qualified consultants to get you started.
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