Our Agency Fees Are Unpaid – What Should We Do?
Our Agency Fees Are Unpaid – What Should We Do?
The United Kingdom is home to thousands of agencies that provide services on behalf of other businesses.
These agencies are not defined by a particular industry and operate in almost all sectors.
Some of the most common types include marketing, recruitment, advertising, letting and estate agencies. Every one of these will charge agency fees to their customers in order to get paid.
An increasing amount of agencies have found themselves in situations where customers present excuses for why they cannot pay. Customers may refuse to pay entirely, which can threaten the cash flow of the business.
In 2021, it was reported that SMEs experiencing late payments increased by 11% in comparison to the year prior.
If agency fees turn from outstanding to overdue, this can force many businesses into financial difficulty.
Frontline Collections fall into the above category as we charge our clients a fee for the services we provide. Much like the businesses previously mentioned, we expect to be paid upon completion.
As such, we understand the stress that unpaid agency fees can cause and what needs to be done to rectify this.
Our experts have produced this helpful guide to assist business owners and individuals when agency fees go unpaid.
Our Agency Fees Are Unpaid – Tips to Prevent This
It is a reality that stopping a customer from not paying is something that cannot be easily avoided.
There are precautions that can be put in place to prevent this from happening in the first place.
Get the customer to sign a contract
Before providing the services to the customer, we recommend that you get them to sign a payment agreement. This is a standard credit control procedure for most businesses.
The agreement should contain agreed costs, invoice due dates and details of the services you are supplying.
By getting the customer to sign this, you are creating a legally binding document. In most cases, this will help deter them from deciding not to pay the agency fees that have been agreed to.
The invoice that you send should be in-depth and describe the services that have been supplied in detail. You should ensure that all of the information on the invoice is correct, such as addresses, figures, names etc.
If a customer sees a mistake, they will happily dispute the invoice as wrong to deter the payment. Producing a clear invoice will avoid any problems related to ambiguity.
A signed agreement at the start and a clear invoice at the end will help eliminate any non-payment issues.
How Do I Recover Unpaid Agency Fees
When agency fees are left unpaid by the customer, this puts you and your business in a difficult position.
Not only do you have to think about recovering it, but also how to do this whilst prioritising daily business running.
You may also want to hold off on chasing for payment out of fear of not damaging an otherwise good relationship.
What if there was a way to recover the money owed whilst not jeopardising existing relationships with the customer?
The solution for this is instructing a private debt collection agency like Frontline Collections.
Throughout our long history, we have helped thousands of business owners across the UK recover unpaid agency fees.
We provide our clients with not only the most effective debt recovery result but the most affordable.
Our pragmatic collection techniques will allow you to focus on running your business whilst we recover your agency fees.
No business deserves to be left unpaid, which is especially true if they have provided them in good faith. Speak to our debt collection experts today.
Frequently Asked Questions if Agency Fees Are Unpaid
My business has unpaid agency fees, what should I do?
If you have provided a service to a customer that has failed to pay agency fees, action needs to be taken. Our recommended course of action is to use a specialist debt recovery agency.
How do I choose the right debt collection agency?
There are hundreds of debt collection agencies in the UK, each offering different success rates and costs. Frontline Collections provide the most affordable yet effective solution for businesses and individuals like you.
What makes Frontline Collections’ services so cost-effective?
We are highly regarded as offering an affordable service for our clients in what is already a financially damaging situation. This is achieved by providing low commission rates of 8%.
Do you have a proven history of recovering unpaid agency fees?
You only need to look at our reviews to understand the calibre of service that we provide to our clients. We have demonstrated expertise and experience collecting unpaid agency fees.
What happens if my debtor is based overseas?
Frontline Collections provide debt recovery to individuals across the world. No matter whether your debtor is based in the UK or overseas, our global network of experts can help.