Bad payers<\/strong>andunpaid debts<\/strong>can be a real problem for your business. Unfortunately, almost all commercial institutions have to deal with this issue, but surprisingly few introduce measures to preventnon-payment risks<\/strong>. TCM reveals a few basic rules you should consider following automatically.<\/p>\n\n\n\n Major companies operate withcredit limits per client<\/strong>(debtor) and many small companies do so as well. This limit is the maximum amount of debt that a client can have towards you. If they want to purchase more, they will have to pay their outstandinginvoices<\/a>first. These limits are set according to the client\u2019s apparentsolvency<\/a>(i.e., for a company, its financial health as indicated by its last threebalance sheets<\/a>available free of charge on theBCE<\/a>website) and the creditor\u2019s specific rules (i.e., for consumers, a maximum limit of \u20acX if no significant information can be found on their financial health). Of course, it\u2019s vitalto clearly and correctly identify your<\/strong>debtor<\/strong><\/a>including their name or company name, their business id number and the name of the person responsible with whom you signed a contract (for businesses), address, phone number, e-mail address, website, and any other details that could be useful to you should a problem arise (not only payment problems).<\/p>\n\n\n\n Any provision or delivery should be preceded by a written order in order to avoid any subsequent misunderstandings. This order should be clearly linked to a contract or to your general sales conditions. In case of any dispute and\/or non-payment, it is essential that your client has signed this contract or that you can show that they have clearly accepted your general sales conditions. There are usefulcontractual clauses<\/a>that allowcreditor<\/a>s to anticipate the non-payment of areceivable<\/a>by one of theirdebtor<\/a>s. While they won\u2019t directly preventnon-payments<\/strong>from occurring, they are still an effective way of preparing for a possiblepayment default<\/strong>. As well, it\u2019s particularly important for yourcontract<\/strong>to specify thepayment period<\/strong>, as payment will be considered to be latefrom the after<\/strong>the date indicated.<\/p>\n\n\n\n To sum up,legislation<\/a>stipulates that you should invoice no later than the 15th<\/sup>day of the month following that of the delivery and\/or the service. However, notwithstanding some exceptions (generally major purchases such as a car or construction), you shouldn\u2019t issue an invoice to a private individual who will be making private use of your products or services. Many companies invoice systematically at the end of the month. However, for one-off (non-recurring) services provided to private individuals or small businesses, it\u2019s advisable to invoice immediately after the delivery or service. Your client will then most likely pay faster or dispute the invoice, which is also useful to know at an early stage. A small tip to reduce your dependency on regular mail: send a digital version of the payment document so that yourdebtor<\/strong>receives it straight away.<\/p>\n\n\n\n If, despite the various steps taken to limit therisk of unpaid debts<\/strong>, yourdebtor<\/strong>exceeds the payment<\/strong>period, it\u2019s best to react at once rather than letting the situation drag on. In this regard, you can call upon the services of a specialistrecovery company<\/a>that will chase yourdebtor<\/strong>immediately by phone,payment reminder letters<\/a>and visits to their address. Many methods can be used, but the key factor is acting quickly. For more information, see ourcredit management guide<\/a>.<\/p>\n\n\n\n Bad payers<\/strong>andunpaid debts<\/strong>can be a real problem for your business. Unfortunately, almost all commercial institutions have to deal with this issue, but surprisingly few introduce measures to preventnon-payment risks<\/strong>. TCM reveals a few basic rules you should consider following automatically.<\/p>\n\n\n\n Major companies operate withcredit limits per client<\/strong>(debtor) and many small companies do so as well. This limit is the maximum amount of debt that a client can have towards you. If they want to purchase more, they will have to pay their outstandinginvoices<\/a>first. These limits are set according to the client\u2019s apparentsolvency<\/a>(i.e., for a company, its financial health as indicated by its last threebalance sheets<\/a>available free of charge on theBCE<\/a>website) and the creditor\u2019s specific rules (i.e., for consumers, a maximum limit of \u20acX if no significant information can be found on their financial health). Of course, it\u2019s vitalto clearly and correctly identify your<\/strong>debtor<\/strong><\/a>including their name or company name, their business id number and the name of the person responsible with whom you signed a contract (for businesses), address, phone number, e-mail address, website, and any other details that could be useful to you should a problem arise (not only payment problems).<\/p>\n\n\n\n Any provision or delivery should be preceded by a written order in order to avoid any subsequent misunderstandings. This order should be clearly linked to a contract or to your general sales conditions. In case of any dispute and\/or non-payment, it is essential that your client has signed this contract or that you can show that they have clearly accepted your general sales conditions. There are usefulcontractual clauses<\/a>that allowcreditor<\/a>s to anticipate the non-payment of areceivable<\/a>by one of theirdebtor<\/a>s. While they won\u2019t directly preventnon-payments<\/strong>from occurring, they are still an effective way of preparing for a possiblepayment default<\/strong>. As well, it\u2019s particularly important for yourcontract<\/strong>to specify thepayment period<\/strong>, as payment will be considered to be latefrom the after<\/strong>the date indicated.<\/p>\n\n\n\n To sum up,legislation<\/a>stipulates that you should invoice no later than the 15th<\/sup>day of the month following that of the delivery and\/or the service. However, notwithstanding some exceptions (generally major purchases such as a car or construction), you shouldn\u2019t issue an invoice to a private individual who will be making private use of your products or services. Many companies invoice systematically at the end of the month. However, for one-off (non-recurring) services provided to private individuals or small businesses, it\u2019s advisable to invoice immediately after the delivery or service. Your client will then most likely pay faster or dispute the invoice, which is also useful to know at an early stage. A small tip to reduce your dependency on regular mail: send a digital version of the payment document so that yourdebtor<\/strong>receives it straight away.<\/p>\n\n\n\n If, despite the various steps taken to limit therisk of unpaid debts<\/strong>, yourdebtor<\/strong>exceeds the payment<\/strong>period, it\u2019s best to react at once rather than letting the situation drag on. In this regard, you can call upon the services of a specialistrecovery company<\/a>that will chase yourdebtor<\/strong>immediately by phone,payment reminder letters<\/a>and visits to their address. Many methods can be used, but the key factor is acting quickly. For more information, see ourcredit management guide<\/a>.<\/p>\n\n\n\n HOW TO LIMIT NON-PAYMENT RISKS? Bad payersandunpaid debtscan be a real problem for your business. Unfortunately, almost all commercial institutions have to deal with this issue, but surprisingly few introduce measures to preventnon-payment risks. TCM reveals a few basic rules you should consider following automatically. Know your debtor Major companies operate withcredit limits per client(debtor) […]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[],"class_list":["post-71058","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/posts\/71058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/comments?post=71058"}],"version-history":[{"count":1,"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/posts\/71058\/revisions"}],"predecessor-version":[{"id":72224,"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/posts\/71058\/revisions\/72224"}],"wp:attachment":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/media?parent=71058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/categories?post=71058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/tags?post=71058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Know your debtor<\/h2>\n\n\n\n
Draw up a watertight contract<\/h2>\n\n\n\n
Invoice promptly<\/h2>\n\n\n\n
React swiftly in the event of non-payment<\/h2>\n\n\n\n
\n\n\n\nHOW TO LIMIT NON-PAYMENT RISKS?<\/h1>\n\n\n\n
Know your debtor<\/h2>\n\n\n\n
Draw up a watertight contract<\/h2>\n\n\n\n
Invoice promptly<\/h2>\n\n\n\n
React swiftly in the event of non-payment<\/h2>\n\n\n\n
\n\n\n","protected":false},"excerpt":{"rendered":"