Credit Solutions

What We Offer

Business Credit Solutions and Repaid! Collections offer a premium product and solution for all businesses. We can assist you with your processes to bring onboard new accounts through to collecting on slower payers. Maximising your cash flows throughout the credit cycle is our priority and we offer a range of services to compliment the task at hand.

Credit Solutions

Credit Management

The importance of knowing your clients and best practice to facilitate on time payments.
Credit Solutions

Process Review

From onboarding your client to receipt of payment.
Credit Solutions

Credit Reports

Where to find independent information about your clients credit history.
Credit Solutions

Terms & Conditions

Your engagement paperwork to mitigate risk.

Frequently Asked Questions

Common questions asked & answered regarding our collection processes.

Why should we have Terms & Conditions?

Terms & Conditions of Trade or Sale specific to your business are very important. Among items you can include are:

  • A Default Clause – This is for when your customer does not pay you according to your agreed Terms. You should include being able to add all collection costs, interest (at a reasonable rate – generally your State penalty interest rate) and legal costs all on an indemnity basis.
  • Payment Terms – Depending on the type of business you have, you may require payment be made within 7, 14, 21 days or 30 days after end of month. There are many variations you can choose.
  • Ability to obtain information from, or to lodge details with a Credit Reporting Bureau (CRB). There are different laws and wording for commercial and consumer debts which your lawyer will be able to include.

It should be noted that your Terms & Conditions should be prepared by a lawyer that specialises in this aspect of Law. They should be aimed specifically at your business and not just copied off another business. For further information or an introduction to a specialist lawyer and quote, please contact us.

How can I minimise the risk of bad debts in the future?

Spending time and developing good processes to minimise risk as your business grows is a must for any business.

These processes begin at engagement with your new client. Have you checked their credit worthiness…Credit Reporting Bureaus or Agencies (CRBs) are a good start rather than checking with their supplied referees.

Ensuring you have up to date terms and conditions which are specific to your business practises are crucial. They must also include a default clause so that costs of debt collection can be added to the debt. This will give you an edge over other suppliers for payment. E.g., your business has consequences for not paying on time.

Do you have a dedicated Accounts Receivable Manager or team skilled in debt collection who understands the importance of this task? Is there a time frame that they follow? Are they familiar with the process to escalate a debt?

Do you use a credit reporting bureau to monitor “at risk” clients? We can provide credit reports and offer this service to you for a small fee (starting at $30 plus GST)

Will my information be safe?

Our systems are backed up and information is stored in the cloud and also off site. A copy of the Certificate of Compliance with ISO/IEC 27001:2013 for the Provision of Secure Data Centre Facilities is available on request.