Post by joita9865 on Oct 26, 2023 8:42:43 GMT
This aspect is developed in detail in Article g - violation of this provision may therefore manifest itself in: Failure to comply with the legal regulations contained in the Act of March , on counteracting excessive delays in commercial transactions; Failure to comply with the adopted schedule for the delivery of goods or provision of services; Gross violation of good commercial practices (principles of reliability and good faith); Failure to take into account the properties of the goods or services that are the subject of a commercial transaction.
Factoring In addition to legal protection, there are other ways to protect yourself against the consequences of late payments. This is, for example, factoring, which we mentioned here . It is a tool that allows you to transfer the risk of loss of financial liquidity from the philippines photo editor supplier of goods or service provider to the so-called factor (this process is also called receivable purchase). The factoring company takes over the task of collecting overdue receivables, while guaranteeing its client a fixed percentage of the total transaction amount. In this way, an appropriate level of company liquidity can be maintained and the receivables turnover cycle can be shortened. As an entrepreneur, you can use such services once.
In situations when you have trouble enforcing payments, or constantly, if your industry is often exposed to payment backlogs. . Letter of credit This is another way that can protect the company against loss of liquidity and insolvency of contractors. It is typically used for large transactions. You can find more about this form of payment security in this article . . Encourage early payment In addition to financial penalties, it may also be worth focusing on motivating contractors or customers to repay their debts early. You can offer discounts or rebates to stakeholders who pay their fees before the deadline.
Factoring In addition to legal protection, there are other ways to protect yourself against the consequences of late payments. This is, for example, factoring, which we mentioned here . It is a tool that allows you to transfer the risk of loss of financial liquidity from the philippines photo editor supplier of goods or service provider to the so-called factor (this process is also called receivable purchase). The factoring company takes over the task of collecting overdue receivables, while guaranteeing its client a fixed percentage of the total transaction amount. In this way, an appropriate level of company liquidity can be maintained and the receivables turnover cycle can be shortened. As an entrepreneur, you can use such services once.
In situations when you have trouble enforcing payments, or constantly, if your industry is often exposed to payment backlogs. . Letter of credit This is another way that can protect the company against loss of liquidity and insolvency of contractors. It is typically used for large transactions. You can find more about this form of payment security in this article . . Encourage early payment In addition to financial penalties, it may also be worth focusing on motivating contractors or customers to repay their debts early. You can offer discounts or rebates to stakeholders who pay their fees before the deadline.