RECEIVABLES MANAGEMENT ADVISORY is available to manage the Accounts Receivables for your business.

RECEIVABLES MANAGEMENT ADVISORY is a division of PIRANHA COLLECTION SERVICES PTY LTD.

RECEIVABLES MANAGEMENT ADVISORY will be friendly but forceful to your customers and follow up debts outstanding in a timely and consistent manner and at the same respect the position that you wish to maintain a customer relationship with the Debtor.

Commissions payable to RECEIVABLES MANAGEMENT ADVISORY are at an agreed flat rate plus GST.

We can assist you in assessing Credit Applications and limits. In assessing Credit Applications we will ascertain only not if the customer appears credit worthy but also to gather information that will assist should it necessary to pursue the Debtor as a delinquent account. RECEIVABLES MANAGEMENT ADVISORY recognises that proper Receivables Management involves not just an evaluation of the Credit Application but also to prepare for the worst possible scenario.

RECEIVABLES MANAGEMENT ADVISORY can:

• Review your Credit Policy;
• If a Credit Policy does not exist we will in collaboration with you design a Credit Policy suitable to your needs;
• Invoice your business weekly for commissions due relevant to the previous week’s debtor collections by RECEIVABLE MANAGEMENT ADVISORY;
• For all communications in writing with the debtor, have them written on your business letterhead unless the matter has been referred to PIRANHA COLLECTION SERVICES PTY LTD for collection;
• Ensure its communications with the Debtor are commercially sensitive and maintain the relationship between you, your business and the Debtor to ensure an ongoing working relationship and future sales for your business;
• Where there is verbal communication between a member of RECEIVABLES MANAGEMENT ADVISORY and the Debtor they will be acting for your business and will represent themselves as a Consultant to your business;
• Assess all Credit Applications before acceptance by you. Other than external disbursements incurred in assessing the Credit Application no other fee will be levied to you;
• Monitor the Accounts Receivables Ledger data provided through your software (if applicable) in our specialised Accounts Receivable Management software;
• Prepare a daily reconciliation of the Accounts Receivable Ledger on your software (if applicable) and our specialised software;
• Provide a dedicated telephone line for ease of communication with your Debtor; and
• Calls to the dedicated telephone line will be answered “Good morning / afternoon, (name of your Business)”.
• An ASIC alert will be placed on all Company Debtors to ensure if any wind up activity occurs on a Company Debtor immediate notification is received from ASIC to RECEIVABLES MANAGEMENT ADVISORY. There is no cost to your Business in performing this task.

The RECEIVABLES MANAGEMENT ADVISORY collection processes will be as follows:

• Monitor movements in your Accounts Receivable ledger and bank account deposit from a Debtor;
• Where debts are outside the agreed Trading terms between your Business and the Debtor, the Debtor will be contacted by telephone and / or SMS to follow up payment. Where payment is not to be made immediately then an agreed Payment Plan is to be entered into and monitored. Payment plans WILL not to go beyond 30 days without the written consent of your authorised representative that has been identified by you;
• Enter into Payment Plans in writing and confirm with the Debtor by email or standard letter.
• Should a Payment Plan not be followed by the Debtor a 7 day warning letter and SMS will be sent to the Debtor cautioning that if the Payment Plan is not brought up to date it will be referred to PIRANHA COLLECTION SERVICES PTY LTD. Should the payment not be received as agreed then the debtor will again be contacted to pursue payment and if unsuccessful to be advised the file is to be handed over to PIRANHA COLLECTION SERVICES PTY LTD;
• Where debts are outside Trading terms or any extension given by you, the debt is to be referred to PIRANHA COLLECTION SERVICES PTY LTD for collection. Instructions for any debt referred for collection by the client to PIRANHA COLLECTION SERVICES PTY LTD must be a specific instruction in writing from your Business. The commission payable to PIRANHA COLLECTION SERVICES PTY LTD is at an agreed flat rate plus GST. RECEIVABLES MANAGEMENT ADVISORY is not entitled to commission on any monies directly recovered by PIRANHA COLLECTION SERVICES PTY LTD; and
• The above processes will be reviewed constantly and will be subject to change as required.

You are to provide:

• A copy of your Trading Terms and Conditions (if exist);
• Details of your nominated bank account for debt payments for inclusion in letter templates;
• A copy of the Debtor Statements as issued to the Debtor from time to time;
• Necessary artwork / logos for use in Debtor template letters and written communications to the Debtor;
• A copy of the Debtor’s Credit Application;
• Debtor information as requested from time to time;

We would appreciate you entrusting RECEIVABLES MANAGEMENT ADVISORY and PIRANHA COLLECTION SERVICES PTY LTD with your Accounts Receivables Management.