Navigating non-payment in agricultural product exports to Switzerland can be a challenging task for companies. In this article, we will explore a Recovery System for Company Funds specifically designed to address non-payment issues in agricultural product exports to Switzerland. The system consists of three phases aimed at recovering funds owed to companies involved in export transactions. Let’s delve into the key takeaways from this recovery system:
Key Takeaways
- The Recovery System for Company Funds is a structured approach to recovering funds owed to companies in agricultural product exports to Switzerland.
- Phase One of the recovery system involves initial contact with debtors and skip tracing to gather financial information.
- Phase Two of the recovery system escalates the process by involving affiliated attorneys to demand payment from debtors.
- Phase Three of the recovery system provides options for companies based on the likelihood of recovery, including recommendations for closure or litigation.
- Rates for the recovery services are competitive and vary based on the age and amount of the claims submitted.
Recovery System for Company Funds
Phase One
Within the first 24 hours of initiating Phase One, we spring into action. Our team sends out the initial demand letter and employs skip-tracing to uncover the most current financial and contact details of the debtor. We leave no stone unturned, ensuring every possible avenue to reach a resolution is explored through persistent communication efforts.
- Daily attempts to contact the debtor include phone calls, emails, text messages, and faxes.
- The first 30 to 60 days are critical, with our collector working tirelessly to secure a settlement.
If our exhaustive efforts in Phase One do not yield the desired results, we seamlessly transition to Phase Two, engaging our network of affiliated attorneys to escalate the matter.
Phase Two
Once we’ve escalated the case to a local attorney within our network, we’re in full pursuit. The attorney’s letterhead adds weight, signaling serious intent to recover what’s owed. The attorney’s team will relentlessly reach out to the debtor, combining the power of written demands with persistent phone calls.
- The attorney drafts and sends the initial demand letter.
- Follow-up calls are made to reinforce the message.
- If these efforts don’t yield results, we prepare for the next phase.
We’re committed to clear communication. If Phase Two doesn’t break the deadlock, we’ll explain the situation and guide you through the options for Phase Three.
Phase Three
Upon reaching Phase Three, we face a critical juncture. Our comprehensive analysis will lead us to one of two paths. If the likelihood of fund recovery is slim, we’ll advise case closure, sparing you any further costs. Conversely, should litigation appear viable, the choice is yours.
Litigation requires an upfront investment for legal expenses, typically between $600 to $700. These costs cover court fees and filing charges, initiating a lawsuit to reclaim the full amount due, including legal action costs. Should litigation prove unsuccessful, you incur no further charges from us.
We stand by our commitment to transparency in our fee structure, ensuring you are informed at every step.
Our fee schedule is straightforward:
- For 1-9 claims, rates vary based on the age of the account and the amount collected.
- For 10 or more claims, we offer reduced rates, rewarding volume with value.
Here’s a quick overview of our rates:
| Number of Claims | Account Age | Amount Collected | Rate |
|---|---|---|---|
| 1-9 | < 1 year | – | 30% |
| 1-9 | > 1 year | – | 40% |
| 1-9 | < $1000 | – | 50% |
| 10+ | < 1 year | – | 27% |
| 10+ | > 1 year | – | 35% |
| 10+ | < $1000 | – | 40% |
Remember, our goal is to navigate this process with you, ensuring the best possible outcome for your company’s financial recovery.
Frequently Asked Questions
What is the Recovery System for Company Funds?
The Recovery System for Company Funds consists of three phases: Phase One, Phase Two, and Phase Three. Phase One involves sending letters to debtors, skip-tracing, and contacting debtors to resolve the matter. Phase Two includes forwarding the case to an affiliated attorney for further action. Phase Three involves either recommending closure of the case if recovery is unlikely or proceeding with litigation if recommended.
What happens if recovery is not likely in Phase Three?
If recovery is not likely in Phase Three, the case may be recommended for closure, and no fees will be owed to the firm or affiliated attorney. Alternatively, if litigation is recommended, the client can choose to proceed with legal action by paying upfront legal costs. If litigation fails, no fees will be owed.
What are the rates for debt collection services?
The rates for debt collection services vary based on the number of claims submitted and the age of the accounts. Rates range from 27% to 50% of the amount collected, depending on the specific circumstances of the accounts.
What actions are taken in Phase Two of the Recovery System?
In Phase Two, the case is forwarded to a local attorney within the network. The attorney sends demand letters to the debtor, attempts to contact the debtor via phone, and provides recommendations for further steps if resolution is not reached.
What are the upfront legal costs for litigation in Phase Three?
The upfront legal costs for litigation in Phase Three typically range from $600.00 to $700.00, covering court costs and filing fees. If litigation is unsuccessful, no fees will be owed to the firm or affiliated attorney.
How are the recovery rates calculated for debt collection services?
The recovery rates for debt collection services are calculated based on the amount collected and the specific details of the accounts. Rates vary for accounts under 1 year in age, accounts over 1 year in age, accounts under $1000.00, and accounts placed with an attorney.
