Business News

Top 10 Excuses Businesses Use for Not Paying Invoices

2008-08-13 11:27:00

    AMSTERDAM, Netherlands, Aug. 13 /EMWNews/ -- In today's tight credit

environment it is even more important than usual to stay on top of

late-paying customers. More and more purchasers are looking for

opportunities to extend payment terms, and for some this can mean finding

excuses either to pay late or not at all. Over the years, Atradius

Collections has heard just about every excuse when collecting amounts due

from debtors of its customers. Some of the classic or more common excuses

for not paying invoices include:

-- We haven't received the invoice -- Our terms are (30, 60) days -- We don't have a payment run until next month -- There are no check signatories available -- The check is in the mail/the invoice has already been paid -- The goods were never delivered or the order was cancelled -- The goods/services were faulty or not as described -- The balance is incorrect and we are awaiting a credit note -- The goods have not been sold/the buyer has not paid for the goods yet -- need sale proceeds to be able to pay -- The debtor is insolvent. Although it happens rarely, some debtors still manage to surprise even us. These excuses have actually been used by debtors:
-- It's not a valid debt as my vindictive ex-wife ran off with the company credit card -- I just got back from my luxury holiday, it cost more than I thought so I no longer have the funds to pay -- I wanted to pay but all the invoices were in my briefcase, which was stolen on the street -- My wife has been kidnapped, and I need the money to get her back. There's no telling what you might hear when you call a customer about an outstanding invoice. This is particularly so for companies doing business internationally. But to maximize your chances of getting paid, timely reminders, persistence and the knowledge of the right responses to these and other potential objections or stall tactics are essential.

    About Atradius

    The Atradius Group provides trade credit insurance, surety and

collections services worldwide, and has a presence in 40 countries. Its

products and services aim to reduce its customers' exposure to buyers who

cannot pay for the products and services customers purchase. With total

revenues of approximately EUR 1.8 billion and a 31% share of the global

trade credit insurance market, its products contribute to the growth of

companies throughout the world by protecting them from payment risks

associated with selling products and services on credit. With 160 offices,

it has access to credit information on 52 million companies worldwide and

makes more than 22,000 trade credit limit decisions daily.

    About Atradius Collections

    Atradius Collections has over 400 staff and 16 offices worldwide,

serving 12,000 clients and handling 27 million transactions per year. With

revenues of EUR 48.2 million in 2007, its collections specialists worldwide

provide customers with local expertise through one global process and IT


Further information: Corporate Communications Christine Gerryn Tel.: +31 20 553 2260 E-mail: [email protected] Atradius Collections David Waldron Tel.: +1 630-227-4719 E-Mail: [email protected]

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Jordan Taylor

Jordan Taylor is Sr. Editor & writer from San Diego, CA. With over 20 years and 2650+ articles edited rest assured your Press Release will see traction.

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