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The Importance of Knowing Your Client
It is sad to say it, but now is the time when all our clients must think about Protecting their business.
Now more than ever, you must truly know your clients.
To many, it seems obvious. Of course, you know your client.
Say, for example, your client is Mr. Smith.
You speak with Mr. Smith daily.
He orders hire of your goods and you drop them off at a third party site as he had requested.
He signs your paperwork and your invoices are being paid on time.
You don't have any issues with Mr. Smith, until one day you are told by the person running your accounts or credit control that the payment dates on the invoices have got ever longer and longer, and now you are not being paid at all. Payment has completely dried up.
You phone Mr. Smith - but he doesn't take your call.
You check your paperwork and the information that you have on Mr. Smith is distinctly limited.
You instruct your team to go out to the site and get your goods back and the site is locked up.
You to use and only then do you realise that you don't know if your client is:
This is crucial information because when you come to complete a claim form, you have to have the correct parties named.
If the name of your client is incorrect, then in the future you might not have to start your Court proceedings again or if the matter carries on without this being picked up on, your client could have a judgement you obtain, set aside; wasting both time and money.
As always, we are here to help.
We can ensure that you have the correct due diligence procedures in place. Let us help you make sure that your business is weatherproofed against the COVID-19 storm.
To get in touch with us, please give us a call on 01829 773100 or send an email to info@dynesolicitors.co.uk.
Now more than ever, you must truly know your clients.
To many, it seems obvious. Of course, you know your client.
Say, for example, your client is Mr. Smith.
You speak with Mr. Smith daily.
He orders hire of your goods and you drop them off at a third party site as he had requested.
He signs your paperwork and your invoices are being paid on time.
You don't have any issues with Mr. Smith, until one day you are told by the person running your accounts or credit control that the payment dates on the invoices have got ever longer and longer, and now you are not being paid at all. Payment has completely dried up.
You phone Mr. Smith - but he doesn't take your call.
You check your paperwork and the information that you have on Mr. Smith is distinctly limited.
You instruct your team to go out to the site and get your goods back and the site is locked up.
You to use and only then do you realise that you don't know if your client is:
- Mr. Smith trading as
- Mr. Smith and Mr. Jones trading as
- Mr. Smith - Client contact for ABC Ltd.
- Mr. Smith - Director of ABC Ltd.
This is crucial information because when you come to complete a claim form, you have to have the correct parties named.
If the name of your client is incorrect, then in the future you might not have to start your Court proceedings again or if the matter carries on without this being picked up on, your client could have a judgement you obtain, set aside; wasting both time and money.
As always, we are here to help.
We can ensure that you have the correct due diligence procedures in place. Let us help you make sure that your business is weatherproofed against the COVID-19 storm.
To get in touch with us, please give us a call on 01829 773100 or send an email to info@dynesolicitors.co.uk.
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