Commercial and corporate law
The questions that could arise for any trader are incredibly many and the current statement could not suffice, but we will try to clarify the most topical issues:
Outstanding receivables – Companies mainly deliver goods and services under specific deferred payment terms. This method undoubtedly stimulates commercial turnover, but hides the risks of delayed or unfulfilled payments. Depending on the amount, we offer various options, and recommend bank guarantees and letters of credit to secure the credit, but it should be borne in mind that the fees for such services are by no means small and you should consider whether the whole procedure is appropriate and justifies the investment. Regardless of the amount of the deferred payment, a collection guarantee mechanism should definitely be considered. For receivables for which the due dates have passed and the counterparty has clearly shown by its behaviour that it does not want to pay what is owed, an individual strategy should be devised.
It is absolutely necessary to ask the question: ‘Does the objective justify the means’. According to current legislation, traders are responsible for the property they own. If a trader has several liabilities to different counterparties, a thorough inspection of his assets should be carried out and several legal mechanisms are available that could provide an objective picture of a trader’s condition. If it becomes clear that the company in question has run out of assets, you should seriously consider whether to take legal action, as it would burden the claim with legal fees, state fees, expert fees, etc.
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