AW Holding
The known side of debt collection is the one that banks does with credit card defaulters to collect the money that bank owe the debtors or collect the loans credited by the banks to its clients, on the other side companies do owe money to other companies and needs to collect that debt to solve a lot of financial issues by this money.
Companies often have unpaid bills from customers who haven’t paid for goods or services. This is where debt collection comes in. It’s the process of recovering these outstanding debts. To learn more about how corporate debt collection works and how it can help businesses, dive into our blog!
The Internal Process of Corporate Debt Collection?
Some practices can be made up by yourself before contacting a third party to collect the dues on behalf of you, you should also keep in mind that customer relationship is the key for maintaining continues successful business deals and open source for selling your services or goods for your loyal clients.
You may initiate a direct contact with your client to ensure the following before starting your first attempt to collect, such as:
- Making sure that the client receives the goods whether at port or by a shipping company and gets confirmation that they have been delivered.
- No disputes arise about issued invoices and prices are identical to your agreements.
- The client has no accounting or invoicing system glitch which hinders the payment process.
- Early reminders have been sent before by various means like emails, phone calls, fax, et……
In this case you start demanding the client for the facilitating and speeding up the payment process and inquire if there is a cash flow issue happened with him, and when can we expect the bank transfer or the payment proceeding, all these practices should be done before starting the procedure of corporate debt collection.
The External Option for Corporate Debt Collection?
After a certain amount of time (depending on each company), 90 days for example, the company turns to outside help of debt collection agencies to do the function of the corporate debt collection and retrieve their money back on behalf of them.
The reputable debt management companies do not buy the debt, it is still owed by your firm, but they work as the middleman between you and the client to recover the full amount of the outstanding due amicably or legally while preserving the business relationship between both parties.
The fee of this service depends on each company system, some firms charge upfront fees, some charge a percentage of the debt, be sure to ask about the payment terms before.
AW Qatar, a wise choice for Corporate Debt Collection, why?
AW Qatar supplying the demand and need of corporate debt collection services in the country and considered to be an intelligent for representation due to:
Years of Experience:
AW Qatar utilize 27 years of experience in collection commercial debts for all corporate sizes, Large, SME and startups through its expert corporate debt collection specialists.
Industry Knowledge:
AW Qatar services government and semi-government entities along with different industry sectors included but not limited to: Real Estate, Finance, Healthcare, Logistics, FMCG, etc….
International Collection:
AW Qatar can collect commercial debts not just domestically but internationally in +150 countries through list of global partners and networks.
Variety of Services:
AW Qatar is not a service provider but a partner in success that starts a journey with it’s not partner not limited to recovering the commercial debts, but it also presents Credit Risk Advisory, Business Advisory and Professional translation services along with the Corporate Debt Collection.
How Long does it take to Recover B2B Debt with AW Qatar?
The length of time the debt collection process takes is subject to the ease of identifying the debtor’s location, handing of the case documents to the corporate debt collection company, plus the age of the debt, the newer the debt, the easier it is to collect.
How Much does it Cost to Recover B2B Debt with AW Qatar?
AW Qatar operates with no collection no fees policy which means that we don’t deserve any fees until we reach a settlement and start the first actual collection with the debtor, also AW Qatar operates with the competitive fees in market among other debt collection agencies comparing to the quality of services.
Case Study for AW Qatar in Debt Collection?
One of our clients in Dubai, UAE engaged us to address a commercial dispute with a debtor in Qatar, involving a claim amount of (X Amount) USD (not mentioned due to confidentiality).
Despite our initial attempts at amicable resolution, the debtor consistently made empty promises, eventually becoming non-cooperative and ceasing all correspondence.
We advised the client to initiate the legal procedures against him in Qatari Courts and sent him a legal proposal and the client approved.
We started the prelitigation procedures, approached the debtor and sent him a legal notice through the notary public, the debtor became aware that we were capable of filling the case against him in front of this country’s jurisdiction, and if payment was not made, we would seize his trade license and request the court to seize his assets and sell it in a public auction in addition to that we will request the outstanding amounts along with all compensation arising from damages incurred as a result of withholding his financial dues.
Consequently, the debtor approached us and offered to sign a settlement agreement to pay the outstanding amount in monthly installments.
The client approved and the debtor scheduled a meeting with our partner law firm and signed the agreement by which we can ensure legal enforcement in the event of any payment defaults.