Pickup basis is a payment arrangement used in international trade to ensure that the seller is paid before the buyer receives the goods. There are three types of pickup arrangements: sight pickup, real-time charging, and clean eraser collection base. A letter of credit is the most common payment agreement used in international trade. The pickup […]
Third-party collection is when a third party attempts to collect a debt on behalf of a creditor. The activities of third-party debt collectors are limited by law, and creditors may turn to third parties when their own collection efforts are ineffective. The process often begins with letters and phone calls to the debtor, and may […]
The average collection period is the time it takes for outstanding payments to be received. Understanding this can help businesses anticipate cash flow and identify unfavorable trends, such as changes in customer payment patterns. It’s important to take into account factors like holidays and weather when calculating the average collection period. Sometimes referred to as […]
American Girl dolls, which have sold over 29 million units since 1986, introduced their first male doll, Logan Everett, in February 2017. The brand has shifted from historical backstories to contemporary characters and is adapting to changing attitudes towards gender labeling in toys. More than 29 million American Girl dolls have been sold since the […]
The debt collection statute of limitations sets a time limit for creditors to seek a judgment on an outstanding balance. The length of time depends on individual contractual agreements and government law. Certain debts, such as government debts, are not included in the statute of limitations. Creditors may still attempt to collect after the statute […]
A recapture tax allows a state or provincial tax agency to impose a tax on a deceased taxpayer’s estate, diverting funds from national or federal governments. It is common in the US, where some states do not impose estate, death, or inheritance taxes. The process is straightforward, but if no estate taxes are owed to […]
Choosing debt collection software requires consideration of business needs, user skill level, monitoring and reporting functions, technical support, and price. Hosted systems may be a good option for small businesses without IT staff. Price should not be the first consideration. Whether part of an accounts receivable office or in the center of a debt collection […]
Toll collection involves receiving a fee for using a good or service, such as roads and bridges or telecommunications. The process can be manual or automated, and tolls generate revenue for the owner to fund repairs and government services. Toll collection is the process of receiving a fee or charge associated with the use of […]
Collections agents contact debtors on behalf of clients, following legal protocol and creating urgency for payment. They send letters and make phone calls, keeping debt confidential. They aim to agree on a payment schedule, but cannot make threats. The job has a high turnover rate due to stress. A collections agent works at a collections […]
Collection procedures outline how an entity collects debts in the event of non-payment, and can protect a business from legal liability. Debtors must receive notices and can negotiate payment plans, but legal action can be taken if they do not respond. It is important to review all terms and conditions, including collection procedure disclosures, before […]
Cash collection is the process of collecting debts before they become overdue. Companies attempt to negotiate payment arrangements and may issue pre-harvest notices before referring the account to a collection agency or taking legal action. Reputable collection agencies do not charge upfront fees and take a percentage of the debt once it is paid. It […]
The debt collection statute of limitations limits the time a creditor or collection agency can legally pursue a balance owed. The length of time depends on individual contractual arrangements and governmental law. Some debts, such as student loans and taxes, are not included in the statute of limitations. Unpaid balances can negatively impact credit scores, […]
The Asian Bond Fund was created by EMEAP to improve the Asian bond market, offering investment opportunities for Asian investors and financing infrastructure development. ABF1 and ABF2 were launched in 2003 and 2005, respectively, with passively managed index funds. The fund is supported by the 11 central banks and monetary authorities of East Asia and […]
When choosing debt collection software, consider the needs of your business and the skill level of users. Look for a system with useful monitoring, reporting, and management functions and good technical support. Hosted systems may be a good option for small businesses. Price should not be the first consideration. Whether part of an accounts receivable […]
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