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Getting paid or not! Trevor Grimshaw et2 Services
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Small = Weak Vulnerable to each income stream
No credit control function No debtor management function Little or no leverage Can’t afford major litigation et2 Services
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The client Size Type Location Speed of payment Security of payment
et2 Services
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Preparation Specification Agree terms Draw up your own standard terms
Delivery Payment Draw up your own standard terms Whose terms? Be firm – but realistic Monitor et2 Services
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Profit or cash flow? Profit Cash flow Plan and Monitor Expenditure
Income – Expenditure (Annual) Cash flow Income - Expenditure (Incremental) Plan and Monitor Expenditure Goods and services Travel Accommodation et2 Services
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What can be done? Stage payments Goods on delivery Direct payments
Client’s services Factoring Stand your ground Late payment law et2 Services
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Can’t/won’t pay Big difference Can’t pay Won’t pay Cut losses and run
Dialog Threats Withhold Court et2 Services
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Signs of trouble Change of bank Change of conditions
Slowing of payments Additional checks More information Lost invoices/correspondence Change of contact Excuses, evasions, etc et2 Services
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When it all goes wrong Insolvency proceedings Small claims Litigation
Publicity et2 Services
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The team situation Who pays them? Who takes the risk?
Who controls expenditure? et2 Services
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International perspectives
Currency Language Law Prejudice et2 Services
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Conclusions Preparation Monitor Limit exposure Dialog Threat Action
Stop Withhold Court Publicity et2 Services
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Thank you et2 Services
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