In this scenario we follow a 4-stage process as detailed below, which is proven to maximise realisations in a Collect Out.

Following an initial conversation, we always suggest that the first step is to get us out to site to carry out a comprehensive Debtor Collateral Review. It includes:

On-site visit usually within 24 hours, but guaranteed within 48 hours, to secure the following:

• Copy invoices

• System access

• Details of any issues and queries

• Backing paperwork

• Aged Debt reports

• Customer Master File

These are all required to prepare for Collect Out

Whilst on-site, we tidy up the Ledger and immediately produce a report which indicates the true collectability of the Ledger, which can be used when producing any Statement of Affairs.

This can only be accurately assessed once the Order to Cash process has been fully understood, which is why it takes experts to do this.

We also review Aged Creditors, Contras and other issues that may impact collectability and leave no stone unturned in reaching a realistic figure for Collections.

At this point, we will also decide if any staff still on site can be of use with the Collections Process, as our main aim is to recover the maximum amount for Creditors as soon as possible, with the minimum of fuss.

We will agree a No-Win-No-Fee with you. Our fee structure is incredibly flexible and can be:

• One No-Win-No-Fee percentage agreed on all Collections

• A Tiered Fee based on milestones agreed with you

• A Low Percentage Fee until we reach a certain milestone or Funds Out position if a Funder or Bank is involved, and then increased once a surplus is achieved or milestone passed

• In certain circumstances, we have even agreed to work for free until a surplus or milestone is achieved and then charged a higher Fee after that.

This variety of options indicates our confidence in a successful outcome for you.

During this process, which we aim to complete within 90 days where possible, we will be utilising our full expertise in maximising Recoveries.

We report to you as often as you like, but as an absolute minimum, you will receive a detailed progress report for the previous month’s collections from us on the 5th of every month (or the next working day). This ensures you are always fully aware of the Position.

We also notify you immediately if we uncover something which will have a detrimental impact on Collections. We don’t shy away from delivering Bad News, as we appreciate that you need to know as soon as possible, especially before a report to Creditors is due.