Late payments disputes are hard to resolve
All businesses have faced late business customer payments and trying to get legal assistance get be daunting: finding a lawyer, gathering the data, defending in court, waiting for months...
Severity & Impact of That Challenge
Over 50% of Business Payments are beyond due date and these cost $40bn according to the WorldBank. Buyers know that the legal system takes a lot of time and use it to their advantage. Some even threaten seller: get us to court and you'll never do business with us ever again. This leads to recurrent write-offs of receivables by sellers. In tight margin industries, it can be even trickier as cash strapped sellers might go bankrupt, leaving the buyer off the hook for ever.
Limitation of current set-ups
The current legal system is saturated and puts in priority the large dispute cases: large amounts and large stakes, like investments rather than delayed payments. This is penalizing SMEs most. Even for those progressive courts which are willing to address the issue and found innovative ways to take smaller value cases, then lawyers might not be willing to spend time for small fees. Last and not least, proper data gathering is a major time and money burden which slows case handling
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New Solution
New Solution
Based on decades of experience of helping sellers collect their cash, TradinLoop founders have designed on online platform that bridges the data collection gap of legal collection at scale, enabling all sellers a fair legal case
New Solution
New Solution
Based on decades of experience of helping sellers collect their cash, TradinLoop founders have designed on online platform that bridges the data collection gap of legal collection at scale, enabling all sellers a fair legal case
Benefits to CFOs
Fast case handling leads to cash flow visibility, a much reduced level of receivables write-offs and provisions: amplified cash flows !
Use Case
Use Case
Take this service provider which used to stuck in the mountain of endless reminders to the buyer, lengthy legal bureaucratic processes and complicated legal technicalities aggravated by lack of time to provide all data, risking to sacrifice new deal for past receivables, a very tricky trade-off: by using TradinLoop, they were able to offload the burden and focus on developing their business. TradinLoop identified the best-fit lawyer in its partner portfolio, then collected and provided all the data to the lawyer, in conveniently structured and electronic format. The lawyer assessed the options of mediation, arbitration and litigation and executed a skillful strategy balancing tact and deterrence, ultimately leading to a 90% recovering of receivables in minimum time and relationship damage while saving the valuable time of the client
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