Does the payment pattern of your foreign traders keep you worried? Do you get sleepless nights thinking about your outstanding receivables lying frozen with them? Are you at your wits end, not knowing how to recover the amounts?
Knock! Knock! Good news is here. The Dollar Business (TDB) is happy to help you get your money back through its specialized money recovery feature called TDB RECOVER.
So, leave your worries to us. While we ensure speedy recovery of your money, we help you to focus on growing your business efficiently.
What is TDB RECOVER?
Simply stated, TDB RECOVER is a powerful and effective tool that helps exporters recover their money that is locked in overseas transactions. The feature helps you (as the exporter) to get back your money, which is lying stagnant with foreign traders to whom you have already made the shipments. It is a specialized business that requires foreign trade expertise, impeccable knowledge on international trade laws and the law of the country involved. TDB RECOVER is as much of an art in the way it scoops out your trapped money and gives it back to you. It is accomplished by maintaining a fine balance between juggling legal issues and foreign trade dynamics.
The Origin - Why TDB RECOVER came into existence?
In today’s modern world, advanced technology and fast-tracking of global commerce have considerably increased the volume of international business relations. Most of the transactions commonly rely on credit terms. This trend has given rise to a lot of international debts among companies of numerous sizes and different sectors. Recovering money from international ventures or extricating oneself from such circumstances is indeed a time-consuming, complex, and an expensive process. One needs to be well versed with the nitty-gritties of the foreign trade dynamics involved. Hence, TDB RECOVER came into force, to address and resolve these issues swiftly and efficiently.
Why choose TDB RECOVER to collect your money? What makes it stand out?
The TDB RECOVER Service can be availed by various organisations and companies that have pending receivables due from other foreign companies or international organisations. TDB RECOVER plays an instrumental role in the recovery of clients’ money from such situations. It manages and collects international commercial debts on behalf of the client. It specializes in handling commercial accounts of any size, ranging from a few days to many months. Through TDB RECOVER, exporters involved in foreign trade can benefit from our high-quality international debt collection service.
TDB RECOVER gives you the cutting edge in recovering your dues because:
As it turns out to be extremely expensive for you as the exporter to visit the court of an unknown country and, that too, coupled with the stressful, long drawn legal procedures, TDB RECOVER is the smart and effective alternative.
TDB RECOVER helps exporters to not only recover their money swiftly but also helps them to maintain good relations with their existing business contacts.
Another important highlight is that TDB RECOVER always resorts to amicable resolution of outstanding payments. Should legal action be required, we are well equipped to handle the full process from initial advice through the entire legal proceedings and implementation.
Our very purpose is to get your money back without any loss of goodwill or damage to your business relationships between your company and your foreign clients.
Our well-versed staff is professionally equipped to negotiate payment deals effectively while maintaining business relationships retaining your business relationships.
How does TDB RECOVER operate?
At TDB RECOVER, our staff analyses why your customer still owes you money and how to get it back. It negotiates a reasonable repayment plan and watches it through to completion. Using advanced technology, our collection team members ensure your money recovery along with flexible lettering and payment arrangements. These are aimed to satisfy the different customer types. This manner of approach proves to be very beneficial in collecting the highest possible rate for clients in the shortest span of time.
Our understanding approach, underlined with empathy facilitates better customer response. It enhances brand value and protects reputation while minimizing bad-debt write-off provisions.
Treating customers fairly is another important skill our TDB RECOVER team possesses! We ensure that there is controlled and effective communication so that clients are neither disturbed and the work is extracted effectively!
We operate on “no fees- no find” basis. You get to pay only when you receive your money.
TDB’s well connected international network is extremely well equipped with the latest technology and has updated databases to track down your foreign traders even if their contact details have changed. Thus, when it comes to tracking down the pending payments from international customers, TDB RECOVER blends in accuracy, ethical grace and legal compliance.
Why rely on TDB RECOVER ‘s network?
Nearly all countries have laws and unique ways to protect their data. Hence, the recovery approach, strategy and procedure will vary from country to country. This is where the knowledge pool of TDB RECOVER comes in handy.
Nearly every international tracking needs validation by an expert local researcher. TDB RECOVER’s well connected network is extremely resourceful and easily accessible as one reaches out to local contacts on foreign turf.
Every country has databases that are integral to their system of functioning. Hence, while it is difficult for an individual exporter to know about it, TDB RECOVER, through its network and established tie-ups, has a competitive advantage that expedites the money recovery process.
When recovering your money from foreign turf, the following three aspects are crucial: legal compliance, accuracy of information and respecting ethical zones. These qualify for efficient money tracing. Therefore, we rely on our local offices in different countries through our strong network to make sure you get back your money at the earliest.
Our approach to each situation with an attitude of care promises a smooth retrieval of money without you having to burn your bridges.
What information can be sent to TDB RECOVER?
TDB RECOVER focuses on collecting exporter’s money that is lying unrecovered with the foreign trader to whom shipments have been made. TDB RECOVER will establish communication channels with the foreign trader by searching through numerous databases, making telephone calls, and sending collection letters. Once the foreign trader has been traced, TDB RECOVER will encourage the trader to repay the money. If you are the exporter and wish to recover your money through us, then it is legal for you to furnish the following information to us to help recover your money.
Name and address
Date of birth
It is not necessary, in legal terms, for the foreign trader to communicate with us though. You may tell us to stop communicating with the trader by telling us so in writing, especially if you intend to file a suit.
Can TDB RECOVER reveal about debt to family, friends or employers?
TDB RECOVER does not make any unauthorized or automated calls to your debtor’s residence or place of work. Moreover, we do not contact a third-party more than once unless that person requests us to do so. Even if we are to contact a third party, we do not share any details about the past due debt. We operate in total legal compliance.
How can you recover debts without distancing customers?
A cross-sectional study shows that that foreign traders who owe you money need not be as valuable as you had thought. Thus, it becomes important to be able to assess and filter out the valuable ones from the bad ones at the very beginning of the trade. This saves you the pain of ever having to get into any form of money recovery.
However, once in the mesh, TDB RECOVER takes charge of the proceedings by complying totally with the international laws and the laws of the foreign trader’s country. Armed with the latest technology, updated databases and backed by a strong network connecting you to the local sources, TDB RECOVER smoothly facilitates your money recovery without affecting your business relationships.
What all I need to do before resorting to legal action?
To start with, you should routinely follow up with your foreign trader. If you want your money badly, you must chase him/her even more when the payment is overdue. The routine should include telephone calls, letters and reminders. Involving senior members can help expedite the process. Copying a letter to the financial director of the company can also help. An order from the senior people or those in the Board of Directors can facilitate the process.
Moreover, should a legal case ensue, it does not necessarily mark the end of a business relationship. What matters is how well the issue is portrayed and with how much finesse the money is scooped out.
It is to be noted that with each passing day, the chances of recovering a debt gets slimmer. This is where the professional expertise of TDB RECOVER comes to play.