Inner West Shop fitter loses $140K in Liquidation…. But could have been so much more!
At a recent meeting with a Shop fitter in the Inner West of Sydney, the owner explained that a large local Sydney Inner West business that they had done work for to the value of over $800K to date, went into liquidation. The company still owed the shop fitters $140K which was bad enough in itself. But then […]
Why Terms of Trade and Credit Management is important to help protect your Cash Flow
I recently met with Ray, a builder based in Newtown in Sydney’s inner west. Ray had been trading for over 20 years without any bad debts – a really good effort! Newtown like any other suburb in Sydney’s Inner West has a number of businesses in the construction industry that can fall victim at any time […]
How Terms of Trade help you recover Collection Costs from your Debtor
Recently a wine wholesaler, based in the Inner West of Sydney was very happy when EC Credit collected a debt of $12,500 and their Debtor was forced to pay all of the collection costs our client incurred, as per the debtor had previously agreed to. This result was achieved because our client had proactively invested in […]
Assisting Solicitors with Debt Recovery and Terms of Trade documentation
I recently met with a well-established and successful Law firm in Sydney’s Inner West. They were having trouble collecting debts and asked EC Credit Control for help in collecting them. As part of my consult I asked for a copy of their Terms of Trade documentation and noticed a number of key clauses missing. This meant […]
Terms of Trade – The proactive approach to protect the cash flow of your business
Throughout my daily travels in the inner west region of Sydney I find that even established businesses with over 20 years trading history do not have effective Terms of Trade in place. Many say because they have not had to rely on them in the past they do not realise the importance of Terms of […]
Are Businesses Finally Learning How to Protect their Cash Flow with the PPSA?
I had a Creditors Report come across my desk today, which is not that unusual, but what was unusual is the number and types of businesses I saw listed as Secured Creditors, having obviously registered themselves as Credit Providers on the PPSR. (Personal Property Securities Register) Now whilst there were 262 Unsecured Creditors totaling a […]
How to protect your cash flow with effective Terms of Trade
I work throughout Sydney’s inner west region covering; Concord, Croydon Park, and Burwood. I work alongside many respected Accountants and their clients to help them with their Terms of Trade, cash flow and overall Credit Management process. As one business in Concord I recently sat down with found out, if you don’t know how to […]
Making your Debtor Liable for the Consequences of Non-Payment
I have recently consulted with several customers in the Sydney Inner West areas of Concord, Strathfield, Breakfast Point and Croydon. Besides being based in Sydney’s Inner West, these clients also have in common problems with large outstanding debts and Terms of Trade missing key clauses that detail the consequences of non-payment. All of these Sydney Inner West […]
Changing your Credit Management Process to Protect your Cash Flow
I recently had a meeting in Burwood assisting a local liquor wholesaler, to set up their Terms of Trade documentation and a membership with Veda, Australia’s largest credit reporting agency. The reason Sarah and her father are using our services is to implement a solid credit management process to protect their cash flow. They have […]
Helping Bookkeepers get Paid
I have recently started working with a large Bookkeeping firm in Burwood who have clients in Croydon, Abbotsford, Rozelle and Balmain. They use our Terms of Trade and therefore have a solid credit management system in place. They have their Terms of Trade updated regularly to ensure compliance with all current and relevant legislation. They […]