4 Reasons why you MUST outsource trade invoice collections

Let’s face it, collecting unpaid trade invoices can be a painful process which many exporters and importers tend to overlook. Failing to collect debts can harm the commercial relationship between sellers and the buyers and always have implications to creditor’s bottom line.

Talk about being stuck between a rock and a hard place. THEN STOP begging for your money from delinquent business partners or buyers over and over again.

Does this sound familiar?

• Unpaid invoices for more that 12 months,
• Debtor is not responsive,
• Debtor’s bankruptcy or liquidation,
• Debtor’s key employee resigns,
• Debtor lives in Thailand now,
• Your invoices became time barred,
• You are short on cash flow,
• Your brand damaged,
• Your partners upset….
• the list goes on and on.

Solution exist! If debt is dragging for more than 2 months, seek for Commercial debt collection from qualified lawyers.

Here are 4 reasons why you MUST outsource trade invoice collections

1. Global coverage and efficiency: Assigning debt collection to transportation – trade lawyers offering global coverage ( NOT uncle Joe – divorce lawyer) who can pursue debtor anywhere, literally ANYWHERE takes a lot guesswork from you, including legal peculiarities, debtor’s asset search and enforcement. Choose lawyers who understand global trade and how international transactions operate.
2. No win- no pay: Days when lawyers were paid for doing nothing are over. Almost over. Remunerating lawyer based on performance is a great option, in particular when you are not sure what strategy to deploy to accelerate recovery outcome.
3. Focus on settlement, not litigation. At Recoupex we are Experts in closing claims and recouping outstanding invoices during negotiation stage. Nothing makes a debtor more aware that things have gotten serious when they receive a call from your lawyer. Sometimes, under rare circumstances when debtor is really malicious, litigation is unavoidable. However your primary focus should always be prompt recovery and not dramatic litigation. There is no glory in litigation.
4. Grow core business: Debt collection is a knowledge and labor-intensive process. Having someone helping on the issue independently allows you to keep focusing on your business, while making money without dedicating resources to the process.

The debt collection process can be long and fraught with problems. Having a lawyer to guide you through the process, helps you to focus on your business, while your money is collected by an expert. It also conveys a crystal clear message to all your business partners not to mess with you up and settle invoices timely.

Contact Recoupex today to talk about your options. We’ve helped hundreds exporters to get their money back globally.