High payment defaults (measured by your debtor trade payment days) undermine your business's financial performance and may be caused by poor credit management systems.
Sewell Lawyers provides businesses with:
Advice regarding credit management methodology
Assistance with credit management documentation and procedures
Staff training regarding legal issues in credit management
Strategies to improve your debtor payment days include:
Review your terms of trade
Screen potential clients
Ensuring appropriate policy documentation to guide staff
Quick action to call in overdue debts
Sewell Lawyers provides customised advice regarding the legal aspects of credit management and practical guidance to maximise the value of your ledger.
For example, does your terms of trade provide for the cancellation of credit when invoices are overdue or for claiming the price of incomplete work?
