Don’t Get Caught Out By Business Fraudsters
The vast majority of clients you may have dealings with in business will be reasonably honest and trustworthy. but a small minority can cause you problems you may not have anticipated when taking them on. Here’s 5 siple tips on how to avoid those types of businesses and save yourself from having to pursue them for payment further down the line.
1. Be cautious when taking on new clients
If you don’t know your client, how can you be sure they won’t run off without paying for the goods you supplied or your services? A common trick is to place a small first order and pay, then place a much larger order further down the line which they then don’t pay for.
2. Check out the business
Use tools which can be easily found online to check out your customer to make sure they don’t have any bad credit history.
3. Ensure paperwork is in order
Your paperwork will be important if it comes to fighting a case later on. Anything that wasn’t signed when it should have been or doesn’t include terms and conditions can leave your business vulnerable.
4. Ask others in a similar business what their experiences were
Often a connection might have had dealings with a rogue company. If they warn you about them take notice or at least take measures to protect your business.
5. If you have been caught out act fast
Appoint a debt recovery agent to act on your behalf to recover outstanding payments. If the client is new this is when they should be paying you on time.