It isn’t always possible to stop others from not paying you what is owed, but you can make sure that your terms of trade are clear and protect your rights. Our lawyers can help you draft terms of trade that clearly explain when payment is due, what will be charged if an amount is overdue and how you will collect the debt if it remains unpaid. This also applies to your employment contracts, so that staff know when they can expect payment and what the terms of that are.
If you supply goods you may be able to register your product on the Personal Property Security Register (PPSR). This means that you register that you have a financial interest in the goods and gives you a legal way to recover the money owed to you.