The interest in trade credit insurance is reflective of the tough times many business are facing at the moment.
An article in the SA Advertiser highlights many small businesses have been left significantly out of pocket as companies collapse leaving their bad debts behind. See the article here.
Anthony Grifoni, General Manager of Becker Commercial Services says that the best time to take action regarding bad debt is as soon as payment terms are not met. The earlier the problem is escalated, the better the result of collection will be. Mr Grifoni further believes that many business owners overlook their debts due to a lack of systems regarding collection of bad debt and knowing exactly when to escalate debtor issues. Becker Commercial Services helps clients by holding debtors accountable for their unpaid invoices in circumstances where they’ve shirked their responsibility at every turn.
Failing the services of a good debt collection agency such as Becker Commercial Services, Trans-West Insurance Brokers offers Trade Credit Insurance to it’s clients to help mitigate the affects of bad debt.
A good trade credit insurance or debt collection agency can help relive the stress and impact of outstanding debts and the future success of an organisation. If you would like more information, please contact our office today.