Another building company has gone into liquidation in the Waikato. Sadly this is becoming a regular occurrence in what is supposed to be a Rock Star economy. Ensuring you know who your customer is before giving credit is a must rather than going with your gut feeling the he / she is a good sort.

Credit checking is the best way to make decisions on extending credit. You will have instant access to the last 5 years trading history on a company or individual . This will show you the real picture rather than ringing 3 credit references that are possibly friends.

There is a small percentage of traders who leave a trail of liquidated business’s behind them.

Remember some of those traders the went bankrupt in the wash up of the Global Financial Crisis have now done their 3 years and are once again active in your area.

You need robust terms of trade that give you the ability to register under The Personal Property Securities Act and become an secured creditor.

Give me a call and let me explain how you can better protect your hard earned cash.