1. Getting Paid For New Business DANIEL COTTRELL HEAD OF CIVIL LITIGATION QUALITYSOLICITORS KNIGHT POLSON 24 MARCH 2015 Private and Confidential

2. About me Associate Chartered Legal Executive Head of Civil Litigation Department Fellowship Qualification 2003 Working in Litigation for 19 years Private and Confidential

3. Getting Paid For New Business DANIEL COTTRELL HEAD OF CIVIL LITIGATION QUALITYSOLICITORS KNIGHT POLSON 24 MARCH 2015 Private and Confidential

4. Individual Partnership/LLP Limited Company Private and Confidential Who is your customer?

5. www.insolvencyservice.gov.uk This allows you to undertake a bankruptcy search against an individual free of charge. www.trustonline.org.uk This allows you to search on line or via the post for records of any County Court Judgments issued against individuals and companies. www.companieshouse.gov.uk You can undertake a free web search against registered Limited Companies to establish its trading status. You can undertake a full D&B search about a Company. Telephone the Central Register of Winding Up Petitions – 0906 754 0043 London Gazette search Process Servers and Enquiry Agents Instruct an enquiry agent to undertake searches against companies and individuals. Knowing your Customer Private and Confidential

6. Terms of Business – Why? Help to create certainty to Agreement Minimise legal disputes and Court proceedings Cover important matters and not overlook more obvious things Help you to enforce your agreement Help to provide good/professional customer service Manage Expectations To comply with the law Private and Confidential

7. Procedure for Overdue Payments Standard letter - confirming the account is overdue and ask for payment. … days later Standard letter - confirming that the account appears to be be still outstanding but if paid apologising for the further reminder; … days later Telephone the customer and ask why payment has not been made. Here make reference to any previous promises to pay or reference to how good the job may have been. Opportunity to really understand if there is a problem.... days later Send Letter Before Legal Action giving 7 days for payment (as a minimum) or legal action will be taken. Make reference to the need for the customer to raise any dispute now rather than later, so that it can be investigated at the pre-court proceedings stage. Private and Confidential

8. Issue of court proceedings Value of Debt Court Fee – Court Issued Claim/ Money Claims Online Fixed Costs (Solicitors Costs recoverable from Customer) Up to £300£35/£25£50 £301-£500£50/£35£50 £501-£1,000£70/£60£70 £1,001-£1,500£80/£70£80 £1,501-£3,000£115/105£80 £3,001-£5,000£205/£185£100 £5,001-£10,000£445/410£100 £10,001-£200,000 5%/4.5% of the value of claim £100 Greater than £200,000£10,000£100 Private and Confidential

9. Claim Form – Court Proceedings Issued out of Northampton County Court – MCOL (Money Claims Online) In basic format and easy to complete Sent with brief details of the claim Court fee payable with claim Court serves on customer for you Customer has 14 days from service to respond This can be extended to 28 days Private and Confidential

10. Response Pack Opportunity for customer to respond: 1.To acknowledge the debt and pay 2.Defend/Challenge the claim If no response you may enter Judgment in default Again, basic format and easy to complete Judgment in default obtained within 35 days Private and Confidential

11. Judgment for Claimant Payable forthwith Sent to customer by the court Registered as a Judgment within 30 days if not paid Private and Confidential

12. Enforcement action – some options Order for attendance for questioning Warrant of execution (County Court) Writ of Fiera Facias (High Court) Charging order proceedings/Order for sale Third party debt order (formally Garnishee)

13. Insolvency - Statutory Demand Private and Confidential

14. Insolvency/Money Claim? 21 days to pay Serve by First Class post generally Very formal document threatening bankruptcy/winding up In default you can petition for insolvency Very useful debt collection tool Private and Confidential

15. Summary Identify your customer Do your research on your customer Get your paperwork in order Have an effective professional collection process Stay in communication with the key decision makers within your customers business Manage the customers credit and keep it under review Be aware of the collection stages where things are not looking good Act on non payment and know what to do about it

16. Please feel free to speak to me for a free no obligation chat anytime Tel: 023 8064 9445 email: danielcottrell@qualitysolicitors.com Private and Confidential Thank you