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By Sergei Tcheberiachki on March 3, 2018
Over the past 6 years having Ec Credit Control services in place has helped protect Airmaster Australia.
If you are a business owner who extends credit and would like to learn more about the above services contact EC Credit Control today for a free consultation.
Comments Off on Air master Australia Blog | Filed under: Outer South East Melbourne & Gippsland | Tags: No Tags
By Sergei Tcheberiachki on February 15, 2018
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.
Comments Off on Importance of Terms of Trade | Filed under: Outer South East Melbourne & Gippsland | Tags: No Tags
By admin on November 27, 2017
You obviously want the work, you want to keep your new client onside, but you also don’t want the headache if things go pear shaped when it comes to getting paid by having no contract in place to protect you and give you the best possible chance to recover your money.
What to do!? Take the job on with essentially only an “electronic handshake” to protect you, cross your fingers and hope for the best? Or, have the extra task of insisting on the client signing and returning your Terms of Trade before commencing. This can create inconvenience at the start of the job but provides great reassurance at the end when it comes to getting paid.
With everything increasingly being done over the internet and average payment days for business continuing to be on the rise it is a little of the damned if you do, damned if you don’t.
The solution for you could well be a new software system called JGID – Just Get It Done! A game changer for any professional services or trades business. It combines the ease of winning a new job/having a quote accepted over the internet/email with the reassurance of having your terms of Trade disclosed and accepted by your client at the same time.
By making it easy for your clients to sign your quotes electronically, JGID makes the whole quotation acceptance process seamless, whilst allowing you to continue to win jobs easily with the peace of mind of having a watertight contract to cover your back.
But the software doesn’t stop there. JGID comes with a mobile app for your fields staff that works on any device, does timesheets, invoicing and a great deal more, potentially saving you hundreds if not thousands of hours a year in reduced admin time and down time on site.
One key feature is that it also makes it extremely easy for you to lodge debt collection, straight from within your job management system.
At the click of one button within JGID, you can send an email to EC Credit Control with the signed quote and the unpaid invoice attached automatically, making EC Credit Control Australia’s first debt collection agency offering this level of convenience for businesses like yours.
Comments Off on The easy solution for your clients to accept your Terms and Conditions online | Filed under: Newsletter Articles | Tags: No Tags
By Sergei Tcheberiachki on September 27, 2016
Talk about rubbing salt into the wounds. The preferential payment provision can be invoked by the Liquidator if the insolvent company has paid a creditor within the 6 months prior to the Liquidator being appointed.
Fortunately for the Shop fitter, the Liquidator had made a fundamental error in their documentation, so with the aid of a Solicitor the Shop fitter managed to escape the Claw Back provision. In the end the shop fitter missed out on the $140K he was still owed and had an expensive legal bill to pay – but a lot less than the $660K they were up for if not successfully defended, which would have put them out of business.
The moral of the story is, whether you’re based in Sydney’s Inner West or elsewhere in Australia, talk to EC Credit Control about how to protect your business from a costly and painful Preferential Payment claw back scenario.
Comments Off on Inner West Shop fitter loses $140K in Liquidation…. But could have been so much more! | Filed under: Inner West Sydney | Tags: No Tags
By Sergei Tcheberiachki on September 27, 2016
After 20 years Ray suddenly had been hit with two big debts at the same time. The first debtor owed him $100,000 and started to question invoices, not only recent ones, but also invoices from previous years. The second, after Ray had supplied 3 months of labour, went into liquidation owing him $80,000. This is a major hit for any small business to try and recover from and highlights the importance of protecting your cash flow with a strong set of Terms of Trade, Contracts and sound Credit Management policy to monitor your clients on 30 day payment terms. Just like insurance on your car you never know when you are going to have to rely on it.
Comments Off on Why Terms of Trade and Credit Management is important to help protect your Cash Flow | Filed under: Inner West Sydney | Tags: No Tags
By Sergei Tcheberiachki on September 27, 2016
Wherever your business is located in Sydney’s Inner Western Suburbs, EC Credit Control has the resources and knowledge to help you protect your cash flow.
Comments Off on How Terms of Trade help you recover Collection Costs from your Debtor | Filed under: Inner West Sydney | Tags: No Tags
By Sergei Tcheberiachki on March 2, 2016
Now whilst there were 262 Unsecured Creditors totaling a massive 6.5 million in unsecured credit, against only 44 Secured Creditors, I found myself really paying attention to the names of those secured creditors and the businesses they operate. Whilst I did recognise a couple of our clients on the Secured Creditor list there were quite a number of varied and smaller businesses which you don’t normally tend to see on a Creditors Report.
Which leads me to ask the question, Are Businesses Finally Learning How to Protect their Cash Flow with the PPSA? (Personal Property Securities Act)
What most businesses, and their professional advisors for that matter fail to realise is that no matter if you provide goods or services on credit the PPSA is there to protect their cash flow.
I would encourage all businesses owners to do a little investigation and find out for themselves how they can move from the list of 262 Unsecured Creditors to the list of 44 Secured Creditors.
“It’s your Business and Your Money”
Comments Off on Are Businesses Finally Learning How to Protect their Cash Flow with the PPSA? | Filed under: ACT & Surrounds, Adelaide CBD & Eastern Suburbs, Ballarat & Western Victoria, Bankstown & Homebush, Brisbane CBD & South East Brisbane, Brisbane East & Bay Area, Brisbane North, Caboolture & Surrounds, Cairns Townsville, Campbelltown, Central & East Perth, Central Coast, Dandenong & Mornington Penisula, East & North East Regional Victoria, Gold Coast North, Gold Coast South, Illawarra, South Coast, Southern Highlands, Inner West Sydney, locations, Melbourne CBD and Eastern Suburbs, Mid North Coast, Newcastle & Hunter Region, North & Norwest Perth, North Adelaide & North East South Australia, North East Melbourne, North Shore & Northern Suburbs, North West Melbourne, Northern Beaches, Northern Territory, NSW Central West, Outer East Melbourne, Outer North East Melbourne & Yarra Valley, Outer North West Melbourne & Central Murray, Outer South East Melbourne & Gippsland, Outer Western Sydney, Parramatta & Hills District, Regional New South Wales, Regional South Australia, Rockhampton Mackay Bundaberg, South Adelaide & South East South Australia, South Perth, South West Brisbane, South West Melbourne & Geelong, Southern Perth & South WA, Sunshine Coast, Sutherland Shire, Sydney CBD & Eastern Suburbs, Tasmania, West Melbourne, Western Sydney & Blue Mountains | Tags: No Tags
By Sergei Tcheberiachki on August 21, 2015
The keynote speaker, Jamie Durie through his own business experience as a landscaper highlighted some key aspects to his success and how those principles could be adopted by others. The other speaker, Craig Rispin identifies himself as a business ‘futurist’ and has made his success through predicting the climate for business in the future. He works with many large multi-nationals to plan strategies for the future.
There was a diverse range of businesses and industries represented giving all attendees the chance to interact with others. During the course of the dinner I had the opportunity to discuss our credit management products with considerable interest in our Terms of Trade documentation and our PPSA Registration service from a local solicitor, a tourist operator and a commercial property agent. The night highlighted the positive and successful growth of business in South West Sydney.
Comments Off on South West BEC Annual Business Awards Night | Filed under: Western Sydney & Blue Mountains | Tags: No Tags
By Sergei Tcheberiachki on July 21, 2015
I continue to work closely with David and his other advisers to create an awareness for all small business owners who provide credit to have the appropriate Terms of Trade documentation and credit plan in place to improve and protect their cash flow.
Comments Off on South West Sydney BEC and EC Credit Control Join Forces | Filed under: Western Sydney & Blue Mountains | Tags: No Tags