We provide the resources to help your business mitigate risk on the following topics:
For financially savvy individuals and businesses, conducting a credit check on a company before you invest your money, time or resources is a must. In the same way you're unlikely to bank with an institution whose credentials are unverified, so too should you conduct a thorough check on prospective business associates.
Assessing the credit status of a client before extending credit to them is smart business practice. It can help maintain strong and reliable cashflow and reduce risk to your business.
Before entering into a new business relationship, it's important to perform a credit rating check to establish the financial credibility and stability of a business.
Your credit reliability rating is typically a score that lenders and other organisations use to determine whether an individual or business represents a financial risk.
As a commercial business, you may have an expectation that credit will be extended to you in one way, shape or form (depending on the product or service you're purchasing).
That's why it's essential that all businesses have a decisive credit policy that stipulates how much credit will be extended and under what terms.
Bankruptcy information in Australia is based on the Bankruptcy Act, regulated by the Insolvency and Trustee Service Australia (ITSA) and the Corporation Act, regulated by the Australian Securities and Investments Commission (ASIC).
Australia has very strict debt collection standards set out by the Australian Competition and Consumer Commission (ACCC) and the Australian Securities and Investments Commission (ASIC). They were implemented to protect companies and individuals alike.
A debtor is an individual, company, firm or government body that owes debt to a creditor.
In an increasingly credit-driven economy, it's important for businesses of all sizes to understand debtor language in order to make savvy decisions - whether they relate to lending money or entering into a new business agreement.
Factoring - also known as invoice factoring and invoice discounting - can provide businesses with a much-needed cash flow boost.