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Council adopts new rules on combating late paymentin commercial transactions

Commenting on the Council fo the European Union's announcement 'Council adopts new rules on combating late paymentin commercial transactions', am Receivables Director Martyn Cook, explains how this affects local businesses.

“I know that late or non-payment is a big barrier to those looking to enter the export arena but this directive is good news for companies looking at or are already exporting goods and services to E U member states. We will certainly be discussing the impact of this directive with all our clients for whom we are collecting debts , but more importantly be reminding the debtors we are chasing so that we can make credit collection and debt recovery even more cost effective for our clients. As a multilingual debt collection agency, we already have the directive in all EU languages!

I would urge all companies whether already exporting or thinking about it to incorporate the directive’s provisions into their contracts and terms and conditions of trade. It gives  more support to the creditor which most people would agree is much needed, but if any account falls overdue I would urge any company to seek professional and pro-active debt collection help sooner rather later. Remember this directive, although it is most welcome is only one weapon in the fight against unpaid debt, it is not the panacea for non payment.”

If you need any help collecting worldwide debt, please contact Martyn Cook on info@amreceivables.com or 0787 2824395

http://www.amreceivables.com/