Steps that can be initiated by corporate creditors against their debtors in case of default and when the debtor refuses to accept the notice and come to a settlement.
Based on the experience in other countries restructuring of corporate debt and need for a similar mechanism in India, a Corporate Debt Restructuring System was evolved, and detailed guidelines were issued.
Here we will briefly discuss about the sound financial status of a Company and how it can have a positive impact on framing Debt Recovery policies.
An Article about the second step for presales i.e to find out the size of the business and how it is beneficial for framing a policy on Debt recovery management.
In this article we will elaborately discuss about the goodwill of the company and how it can benefit in framing debt recovery policies.
The secret to any successful business is good customer relations. Don’t allow too much time to pass without notifying your client that credit terms have been broken.