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Steps to recovery unpaid invoices include following up letter, sending a letter of demand, entering into a payment plan, starting court proceedings.

Imagine, you chased an overdue invoice from a customer, they finally paid, and you moved on. Months later, a letter arrives from their liquidator. The customer has gone into liquidation, and the liquidator wants the money back. This is called an "unfair preference claim", and it catches many small and medium businesses by surprise. With the current economic condition, unfair preference claims are on the rise. The Corporations Act 2001 (Cth) gives creditors real defences, and

Many businesses feel confident they trade on their own terms and conditions. They paid a lawyer to draft them, and the terms sit on every quote, invoice and website page. Then a customer sends a purchase order, the business fills it, and waits for payment. What many business owners don't realise is that the purchase order may have quietly replaced their terms. Purchase orders often include fine print saying the supply is on the customer's terms. If the supplier says nothing a