RMS HKDefending Your Receivable is Our Mission
|
In 2020, with the impact from the pandemic outbreak, and the uncertainties of the epidemic trend, countries are encountering an unprecedented crisis as a result of regional lockdowns and restrictive measures. The global economy is suffering a severe recession, with catering, manufacturing and retail industries bearing the brunt of the crisis. The current global pandemic has made it incredibly challenging for businesses to maintain their cash flow. The tide of bankruptcy is on the horizon. Local and overseas companies are concerned about collecting debts from China, as they are unfamiliar with Mainland laws and culture, while the epidemic has caused payment delays. In this blog, we share a recent case in which RMS successfully collected over 1.8 million Euros for two overseas clients from the same Chinese manufacturer, by leveraging our years of collection experience and RMS global network.
0 Comments
Garment industry is fiercely competitive due to unpredictable consumer demand and uncertainties arising from the US China Trade War. In order to maintain a strong relationship with customers, manufacturers would allow for prolonged payment terms. This would affect company’s cash liquidity and operating funds.
The Korean electronics parts manufacturer approached iQor RMS HK in collecting a large unpaid debt from their US buyer. The buyer had placed heaps orders with our client during last year; however, due to global economy downturn, the buyer failed to collect the finished products and denied to fulfill the rest orders as well. All finished products and materials have been abandoned in client’s warehouse for over half year, which costs US$1,000,000 in total.
Effective Collection Strategy in US: Combination of 3rd Party Collection & Paralegal Services3/9/2019 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.
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.
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.
|
Categories
All
Archives
August 2020
Photo by Jeffrey Swanson on Unsplash
|
企業地點電話
香港: 852-2201-8888 台灣免費撥打: 00806-651-932 中國內地固話免費撥打: 8008-768-598 電郵地址 info@rmshk.com 地址 九龍 觀塘 巧明街 100號 Landmark East AXA Tower 27樓 2701-3室 |
Company LocationPhone
Hong Kong: 852-2201-8888 Free Calling from Taiwan: 00806-651-932 Free Calling from China on Fixed Line: 8008-768-598 info@rmshk.com Address Suites 2701-3, 27/F, AXA Tower, Landmark East, 100 How Ming Street, Kwun Tong, Kowloon Hong Kong |
|
会社の所在地お問い合わせ
香港: 852-2201-8888 台湾→無料通話: 00806-651-932 中国→無料通話 (固定回線): 8008-768-598 メールアドレス info@rmshk.com 所在地 Suites 2701-3, 27/F, AXA Tower, Landmark East, 100 How Ming Street, Kwun Tong, Kowloon Hong Kong |
フォローする |
© 2020 Receivable Management Services (HK), Ltd, an iQor Company All rights reserved.