When and how is it used? On making your debtor an offer to settle at a reduced amount you must protect yourself by including the words “Without Prejudice”. That way, should the debtor later endeavour to use your offer in court as proof the debt had been reduced any such utterance would be futile. A ‘without prejudice’ offer means that the debt reverts to the original amount should it not be taken it up in the timeframe stipulated.
TERMS & CONDITIONS OF TRADE
If you are in business is vital you protect yourself from debt. One very successful facet of FIDC is the selling of a very compact clause in order to rogue-proof your operation. This 420 word clause is recommended to be cut and pasted onto your email quote or job confirmations. It should also be in your Quote pad; Work Authority and Credit Application form. The example here provides just the first one. The rest of the clause is disclosed on purchasing the dynamic debt-proof arsonal.
1. Our terms are strictly CASH unless otherwise stated.
2. A penalty interest rate is stipulated (not unconscionable) for late payment
3. Retention of Title on all goods installed or held.
4. The customer’s responsibility under PPSA
5. All costs (including those of a debt collector) can be added to the bill.
6. The customer made aware that a security interest exists under PPSR
7. The right to register a caveat on the property.
8. Trustee or appointing party (acting on behalf of the customer)- also liable.
9. Jurisdiction for any possible or subsequent court action.
STATUTE OF A DEBT
The legal statute of a debt is six years. There are ways of re-activating it and we suggest you consult us regarding this as it is part of our modus operandi.
QUICK SOLUTION TO A COMPANY DEBT
If your debtor is a company the answer is to issue a legal Statutory Demand under section 459E(2) of the Corporations Act of 2001. Once our legals have prepared this it is served on the company at its registered office. The company has 21 days to pay or it faces being wound up through the Federal Court. For more info email us: firstname.lastname@example.org .