How to proactively increase your recovery odds, while keeping your small business cash flow protected.
Call your customer and/or resend the invoice:
Explain next steps if they fail to pay:
You could:
- Stop supply
- Escalate the issue within their company
- Involve a third party (lawyer, collection agency etc.)
- Take them to court
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Ensure the right people are involved:
Set a specific payment timeframe:
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Consider calling a collection agency (small payments) or filing a lawsuit (large payments):
Gather your documentation
Assess the financial impact:
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Ensure a prompt after-action review:
Want to avoid non-payment situations?
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We have a variety of resources available to support you.
Read more:
3 strategies to mitigate payment risk post-Covid 19
How do I deal with customers who might not pay?
How to negotiate payment terms with customers
Visit:
Did you know?
Because the future isn’t always as we expect, we predict trade and credit risks today, to protect cash flow tomorrow.
As you trade through the year, you make decisions that call for expert insight into your markets and the economic cycle, backed by insurance and trade finance solutions that bring greater security to your plans.
This is where we can help.
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About Euler Hermes
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Euler Hermes is the global leader in trade credit insurance and a recognized specialist in the areas of surety, collections, structured trade credit and political risk. When the unexpected arrives, our AA credit rating means we have the resources, backed by Allianz to provide compensation to maintain your business.
For more information about trade credit insurance, visit:
Why Euler Hermes?
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DEDICATION
Clients worldwide
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INSIGHTS
Businesses monitored
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ASSURANCE
by Standard & Poor's
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At Euler Hermes we value your time and will try to respond to your enquiry on the same working day.
Some questions may take a little longer to answer, but we aim to provide you with a response within 3 working days.