Defending Your Receivable is Our Mission
iQor RMS will hold a Corporate Risk Management seminar at Canton Trade Fair on October 25th, 2019. Attendees include traders, SME and foreign enterprises etc. The ongoing trade war combining with political and currency risks factors have impacts increasing bad debts of traders. During the seminar, RMS senior consultant, Mr. Norris Chan, will analyze the global economic situation, share mitigating risk advices, managing accounts receivables, and introduce how iQor RMS resources and international network could assist in overseas debt management and recovery. Don’t miss the seminar and register asap!
iQor RMS has held a seminar “Make Use of 2019 New Agreement: Enforce Hong Kong Judgments in Mainland China to Mitigate Risks of Doing Business in the Mainland” on June 20th, 2019 at Hong Kong General Chamber of Commerce (HKGCC) Chamber Theatre. The seminar was hosted by iQor RMS Senior Consultant Mr. Norris Chan and Yingke Law Firm lawyer Ms. Su Ping.
iQor RMS had reviewed in its earlier blog in regard the latest news of legal collection in China. Hereby we would like to share the current credit and recovery risks in doing business with the mainland China, and the various provisions of services/reports that help to mitigate risks in dealing with this market.
The jewelry industry is notorious for its inconsistent pricing model stemming from the difficulties to authenticate its genuineness and quality control standard. As a result not many insurance companies are willing to provide sufficient insurance coverage in this segment. Lacking insurance protection, small and medium jewelry suppliers might expose to various threats including payment risks. Thus receivable collection services is always an indispensable tool for the jewelry industry to recover its overdue debts. In this blog, we share a successful case where a local jewelry supplier approached iQor RMS to collect a large amount of debts from a US jewelry buyer.
Language barrier and time difference are usually the key reasons for enterprises to abort the recovery of small size overseas debt. iQor RMS' statistics, over 30 years commercial collection data base, show that the recovery rate of small size debts could be 30% higher than that of the large amount accounts. Here are two typical cases oftenly seen from non-English speaking countries.
The Arrangement on Reciprocal Recognition and Enforcement of Judgments in Civil and Commercial Matters was signed between China and HKSAR in January 2019. This arrangement helps to skip the process of re-litigation and speed up account receivables collection in China by Hong Kong corporates.
By leveraging UK statutory demand, iQor RMS has successfully recover outstanding debt on behalf of the client, a China-Hong Kong Jewelry supplier, from a UK buyer.
iQor RMS (HK) consultant Mr. Norris Chan was invited to hold a seminar for the 14th China Competitive Intelligence International Annual Conference in Shanghai on April 18th, 2019. The theme was “Competitive Intelligence, Big Data Analytics, Future Insights for Leaders”. Participants were from all around the world, including Fortune 500 representatives such as HPE and IBM. Participants highly appreciated the speech and the seminar helped guiding their corporate strategies in the future.
iQor RMS was invited to hold a seminar "How to ensure the safe operation of funds and reduce the risk of bad debts in the fast changing epoch" at Canton Trade Fair on May 2nd, 2019. Facing global uncertainties and economic anxiety, enterprises must maintain a stable cash flow to ensure the companies’ operations and development. Participants have shown great enthusiasm and interest in this topic.
The US-China trade war has intensified while the US announced to raise tariffs from 10% to 25% on US$200 billion of Chinese goods. The ripple effects severely hit on exporters, industrial supply chain, and also logistics companies. iQor RMS has dealt with a case involving a Chinese apparel manufacturer affected by the trade conflict recently.
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