Debt recovery letter service, Summer Collection Group



		Terms of Trade If your business offers supplies or services, you need to supply a formal written contract to protect you and your business from unnecessary risk. It is important to protect your business from the outset. This can be done by implementing Summer Collection Group's Terms of Trade Documentation. Terms of Trade has been compared to an insurance policy for your revenue and profits. We recommend that you insure your revenue for the same reason that you insure your personal assets or business. Without having Terms of Trade in place your business: Can be exposed to the potential risks and liabilities associated with selling your goods and services. Has very minimal protection from debtor's not paying. This means you may have little chance of recovering debt without incurring substantial recovery costs. Terms of Trade will allow your business to be compliant with the Privacy Act, Fair Trading Act, and Trade Practices Act. This means that your customers will be legally accountable for their purchases. This is because you have protected yourself by establishing a legally enforceable agreement between them and your business. Because you have provided the correct legal disclosures, you will also be able to default your debtors on credit reporting data bases and adversely affect their credit rating for a period of up to 5 - 7 years. Debtor Default & Consequences of Default If your client does not pay for the Goods or Services supplied this can entitle you to; charge overdue interest charge legal costs place a company into liquidation, or bankrupt individuals Privacy Act 1988 Under the Act you need to disclose that you can complete credit checks on your clients list clients as defaulters, therefore listing them with a credit reporting agency for a period of 5-7 years This documentation can be tailor made for your business, as all businesses are different and require different needs. Areas that are covered are: payment default costs warranty privacy