Dynamic Metal Fabrications based in Bayswater have been an EC Credit Control client since March in 2009. They implemented Terms of trade, Debt Collection and Credit Reporting services through EC Credit Control perhaps not knowing the importance of having these services in place.
In 2015 Dynamic Metal Fabrications secured two jobs through a builder for an amount in excess of $400,000. Luckily Dynamic Metal Fabrications did their due diligence and had the terms of trade and a Personal director guarantee signed by the client. Once the jobs were completed to the agreed standards a payment dispute came to hand. After many months of debating and emails going back and fourth Dynamic had no other option than to enter into legal proceedings to recover the amount OVER $400,000.
Once a legal team had been chosen they proceeded to review the case and view all the documentation that had been agreed upon by the builder. The legal team has seen the signed Terms of trade & Personal Directors Guarantee knew that the builder was in no position to dispute the debt. Also, debt collection costs, legal expenses and interest could be added to the debt as agreed in the Terms of Trade.
After drawing out the process for over a year, the builder could no longer hide and eventually settled out of court having to pay a figure larger than the initial debt. Having tried to help Dynamic Metal Fabrications through out this process, I am proud to say that without implementing EC Credit Control services this builder could have escaped without paying a cent.
In closing, I would like to say it is days like this that make me very proud to say that I work with EC Credit Control.
If you or anyone you know can benefit from these services please do not hesitate to call or email today for a free consultation.