fci NEWS4Global Collection Agency Global Collection Agency Warns Exporters Still Not Getting Paid On Time.
Press Release: For Immediate Release
One crucial aspect of trade finance is all too often overlooked - the collection of payments from abroad where there are no documentary methods of protection and the exporter is unsecured.
"Even where attention is paid to different forms of credit and insurance, many exporters give insufficient thoughts as to how they will get the money in if their customer misses his payment deadline and appears to be ignoring the debt", said George Bone, Managing Director of First Collect International Ltd., London, England.
"Chasing late payers is time consuming, counter productive and expensive. Furthermore, experience shows that the longer a debt is overdue, the greater the risk of not getting paid at all. Many foreign customers pay the exporter late simply because he is in another country. If you are thousands of miles away and don’t speak the debtor’s language, it is easier for him to put you off. This is why companies should only deal with collection agencies which have a true international presence".
As a truly international agency, First Collect International has offices in over 100 countries. It’s London information centre has direct electronic access to its offices in the USA, Far East, Middle East and Indian Ocean as well as to its affiliated offices around the world. The Company’s policy is No Result No Fee.
"With such a vast network of offices, we are able to address our clients’ debtor problems on a local level. Clients can rely on their debtors being approached by a reputable company in the Debtor’s own country, who speak the language and understand local markets and legal requirements. This makes it easier to pursue debts tactfully but effectively, without upsetting the important relationship between exporter and customer".
First Collect International’s extensive client list includes many leading national and international corporations, credit insurance organisations, as well as small and medium sized companies. Recent success include collection of a major account on behalf of one of the leading exporters of an Eastern European Country from a Government in the Middle East, as well as many major successes for most of the world's major Credit Insurance Companies from various European & Worldwide Debtors.
"Our success has been built on forging strong links with our customers and making ourselves responsive to the needs of businesses. Through our offices we are able to supply on the spot credit status reports and credit status updates to ensure that clients are fully aware of the risks involved before, during and after doing business with a trading partner" said George Bone.
As members of the American Collectors Association - the largest association of its type in the world - First Collect International operates a stringent code of practice and is actively seeking to improve an industry which, unfortunately, does have its share of twilight areas and dubious operators. First Collect International is a highly efficient and fully computerised organisation, which relies largely on personal contact aided by it’s massive database of information.
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