One of the most powerful tools a business has in recovering a debt is a Statutory Demand. This debt collection tools allows creditors to issue a Statutory Demand to a company that owes them money immediately after a debt greater than $2,000.00 becomes due, as long as the debt is not disputed.
Company Law Advice - Corporate Governance & Compliance:
Small Business Tips – Terms of Trade and Protecting Your Business:
It is vital that you review your terms of trade regularly and ensure that the terms and conditions are sufficient to protect the rights of your business. Terms of trade are the lifeline of your business and govern your interaction with your customers, ensuring you get paid for your good or services.