Collections Seminar: Don’t let your clients’ cash flow problems become your problems

Past Due InvoicePresented by:

Hosted by Engineers’ Society of Western Pennsylvania

Tuesday, March 29, 2016
8:00 – 10:00 am
ESWP | 337 Fourth Avenue | Downtown Pittsburgh
Open to non-members of the ESWP

As anyone in business knows, it’s one thing to get the work, and another to get paid in full and on time for the work. Not many people get into the design industry to focus on collections. That’s why it makes sense to put systems and processes in  place to minimize the impact of a client cash flow problem becoming your problem.

Bad agreements and poor collection practices can cause you to lose money – or leave too much on the table. Also as a design professional, you have some additional legal options that other commercial enterprises do not. This gives you some distinct advantages to collect what you’ve earned.

This presentation will provide design professionals an overview of those systems and processes, including the mechanics of a collection action – from the first friendly reminder to litigation. And we’ll cover the steps to take when your customer files for bankruptcy.

You’ll learn:

  • Ways to better identify your client in order to better identify your risk.
  • Possible agreements you should have in place to protect your interests.
  • The terms and conditions that your agreements should contain that will give you leverage in the collection of a debt.
  • Your options and expectations once a collection action becomes necessary.