- You don’t need to send a reminder letter by registered mail: an email will suffice.
- However, we do recommend that you send your demand letter by registered mail. We also recommend that you use BidSettle’s tool to guide you through the drafting process, as this type of tool is on average ten times cheaper than a lawyer’s fee.
- At the moment, a two to three day civil trial costs on average more than $20 000. Moreover, you are never guaranteed a win. Being represented by a lawyer could cost you a bundle. We suggest you first use all the available tools in order to avoid these costs.
- Even if you have doubts about the other party’s intentions, maintaining an open communication channel at all times (24/7) increases your chances to settle.
- BidSettle offers a turnkey service. Depending on the information that you submit online, BidSettle automatically generates a legal action (or judicial claim) and takes care of all of the mailings, correspondence, and other notifications. This allows you to have a more credible demand and it is constructed according to the industry’s best practices.
- In order to minimise your overdue accounts or (accounts receivable), we suggest that you develop clear policies and make your clients sign simple contracts: they don’t need to be excessively complicated! As well as constituting evidence, you will be able to provide them with an extra copy and remind them of their obligations.
Do you have many accounts receivable (or overdue accounts)? BidSettle Business Solutions can help you automate the collection process. BidSettle can optimize the offer and counter-offers, automate the sending of demand letters and final notices, as well as maximize the settlements before you transfer your debts to collections agencies. BidSettle only gets paid if it succeeds to make you save money. BidSettle’s policy is to build relationships where each party finds a beneficial outcome.