Debt collection agency - Middle Eastern Bank

Discussion in 'Accounts & Finance' started by Karimbo, Apr 18, 2019.

  1. Karimbo

    Karimbo UKBF Ace Free Member

    1,730 176
    A national bank of an oil rich gulf country who are incorporated here in the UK have taken out our services. They owe us £2700

    Invoice was due 22nd March, we sent them a reminder when it was 2 weeks past due, and then another reminder when it was 4 weeks past due.

    On the 2 weeks past due reminder, they said it would be paid in the next few days.
    On the 4 weeks past due reminder, they said it will be paid by the end of this week.
    Now we're approaching 5 weeks past due.

    I have acquaintances who have worked with middle eastern companies and they have told me they're always slow with payments, several people are owed money from middle eastern firms.

    Fortunately for me they are a UK based Plc, I'd like to know what my options are with getting paid faster.
     
    Posted: Apr 18, 2019 By: Karimbo Member since: Nov 5, 2011
    #1
  2. Karimbo

    Karimbo UKBF Ace Free Member

    1,730 176
    this is a one off order, I won't be doing business with them any time soon.

    We supplied equipment to them on rental and the equipment are due back to us on the 24th April.
     
    Posted: Apr 18, 2019 By: Karimbo Member since: Nov 5, 2011
    #2
  3. Karimbo

    Karimbo UKBF Ace Free Member

    1,730 176
    Do factoring companies do one off jobs? What are their typical fees. If the factoring agency isn't able to collect the money from them. Do they come back to you and demand the money they paid to you back?
     
    Posted: Apr 18, 2019 By: Karimbo Member since: Nov 5, 2011
    #3
  4. Karimbo

    Karimbo UKBF Ace Free Member

    1,730 176
    They've just paid, 5 weeks late, but at least I have it.
     
    Posted: Apr 18, 2019 By: Karimbo Member since: Nov 5, 2011
    #4