You need to continually plan and ensure that ALL of your assets are protected.
Here are some of the issues to consider
• Do you have effective Terms of Trade in place?
• Do they contain a retention of title clause? Is it registered correctly?
• Have your clients completed Account Application Forms?
• Do you hold any security over your debtors? Is it registered correctly?
• Can recover the cost of debt recovery from your client?
• Can you register a security over the goods you supply to your clients and the future income streams from
• Does the company provide loans, stock or equipment to an associated entity? Is it secured and is it registered
Director/Shareholder Personal Assets
• Do directors loan funds to the company?
• Do associated companies provide loans, stock or equipment to the company?
• Are effective contracts in place?
• Are the contracts secured and registered correctly?
Remember: Assets that are Incorrectly secured OR registered can be taken from your control in some situations.
If in doubt, speak to Simple Debts urgently.