Good debt management - our experiences and systems As recruitment consultants, we have spent eight years trying to work out ways to get our clients to pay our invoices in good time, thus ensuring a decent cash flow for our company, but also ensuring that our terms and conditions are adhered to which then benefit the clients as they get generous rebate periods considerations if anything was to go wrong with a placement. In the eight years that the company has been operating, I estimate that on three separate occasions we have had to send bailiffs into firms, and on at least ten occasions we have had to issue proceedings either in the county court or using the small claims procedure. We have tried a whole raft of measures over the years with law firms to get payments made in good time, and this has become the following procedure: When we issue an invoice, we ask the firm to choose their charity for our charitable donation (Ten Percent donates ten percent of annual profits to a charitable...
Award winning blog with 100s of articles on the legal profession, legal recruitment and legal job markets by Jonathan Fagan, MD of Ten-Percent Legal Recruitment, recruitment consultants based in the UK providing a full range of services for solicitors.