Receivable Excellence Program
We offer our clients consultation and representation for receivables recovery in the Czech Republic and abroad (EU).
Receivables recovery is handled systematically under one roof by an expert team of specialized employees, attorneys-at-law and trainee attorneys.
For distraint procedures, our office systems are connected to the distrainor‘s system to ensure the course of the distraint is as transparent as possible and that all information is immediately available to the client.
Our Receivable Excellence Program designed to streamline receivables management and recovery includes the phases bellow.
We will be happy to discuss the REP procedure and your company’s specific REP requirements to ensure that our offer and REP implementation precisely meet your company’s needs.
More advantages of receivables recovery:
- We can recover receivables throughout the Czech Republic and the European Union.
- Our law office can provide a special approach to receivables recovery against business-critical debtors specified by the client.
- The speed and efficiency of the receivables recovery process is supported by a specialized IT section of our law office.
- The client can monitor the receivables recovery process online through a web application.
- During the receivables recovery process, the debtor is automatically monitored on a daily basis in cooperation with the Insolvency Register.
- The fee includes extrajudicial, judicial and distraint receivables recovery. We do not charge any fees for court proceedings or the distrainor as these are already included in the law firm‘s fees.
- Presentation of the team and the purpose and value of the receivables management audit
- Familiarization with the essential legislation relating to receivables
Of the company‘s internal processes relating to receivables management:
- receivables cycle
- receivables provability
- approval mechanisms
- receivables management
- prevention of receivables becoming overdue
- prevention of bad debts
- insurance of receivables
- extrajudicial settlement
- judicial settlement, distraint, insolvency
- internal company documents (methodology, internal regulations)
- customer contracts and orders
- participation in public procurement
- Overview of the positive and negative impacts of internal receivables management
- Proposal for the optimization of internal receivables management compatible with other company processes
- Gradual implementation of the audit output into the company’s operations
- Modification of the company‘s internal regulations
- Modification of contractual documentation templates
- Valuation of improvements after implementation and possible updating
- Training relevant company employees
- Test of knowledge of basic receivables management rules
- Regular annual REP implementation and compliance certification
- Information on new legislation
- Information on new REP trends
- Follow-up process and documentation update