ICIL - ONLINE DEBT COLLECTION SERVICES

HOW TO PROTECT EXPORT DEFAULTS

10 Effective Tips

1. Clear Credit Policy
Implement a clear credit policy tailored to the individual risk orientation and financial strength of the company

2. Avoid Shipments on Deferred Payments
Always keep an assertive outlook when deciding payment terms with buyers specially new ones. Opt for Letter of
Credit instead.

3. Credit Limits
Observe credit limits to follow the development of the receivables of individual regular customers. In practice, the
provision of credit limits of credit for each (key account) customer has proven to be particularly effective.

4. Get a Credit Report on the Buyer
Consistent checks on the whereabouts of the buyer including credit worthiness and other related risk factor to help prevent
the likely default. Get professional help from companies like ICIL to get the Credit Report of your buyer before you ship.

5. Update Economic Information
Update economic information with consistent solvency checks before taking decisions on deliveries against invoices.
If solvency is insufficient, deliveries should be made against an alternative form of payment.

6. Routine Checks on Solvency
Routine solvency checks on key clients to ensure buyer’s ability to pay its monetary obligations when they are due.
ICIL could provide the related reports.

7. Bill Late Payers
Bill late payers for interest defaults and the operating costs caused by the payment delay.

8. Remind
Swift reminders to be issued rapidly and regularly to keep the buyer on alert and always on track of timely
payment.

9. Allow Efficient Credit Management
Cooperate with professionals such as ICIL and integrate them into the customer management process, thereby
allowing efficient credit management tailored for rapid receipt of payments.

10. Widen Horizons
Extend client structure by reducing reliance on one, or a few, large customers.

Debtor Needs Constant Persuasion
Buyers who have gotten into debt need constant follow up and persuasion, especially when their
intentions to pay are bad.ICIL and its international offices could help in this regard by providing localized approach towards debt collection. It consists of a series ofletters and reminders followed by telephone calls and para legal letters, if necessary. If it does notwork, legal action is recommended to the client.