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Selling to Italy?

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13 years 11 months ago #290 by Wendy
Selling to Italy? was created by Wendy
Has anyone had experience in selling to Italy? We have a company who want to distribute our products exclusively and they are telling us that their terms are 60 days. Our payment terms are 30 days after 3 prepayments. Any idea where we stand if they ignore our contract terms and we are waiting for the money from Italy?

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13 years 11 months ago #293 by jimbo22
Replied by jimbo22 on topic Re:Selling to Italy?
Good luck !

These days we all need to be careful. I'm sure their bank can offer letters of guarantees for payment etc.

I forget what you call it and dont know if it is current in europe.

If it was me I would be trying to get their bank to underwrite the credit in some sort of way.

Your prices should take account of 60 days payment terms.

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13 years 11 months ago #295 by Safe_UK
Replied by Safe_UK on topic Re: Selling to Italy?
Whilst payment terms in Italy are often 60 days the reality is often closer to 90-120 days before payment materialises...

Even our Italian recovery agents often take 90 days to pay us!

As always do your homework before selling abroad, get a credit check from a reputable source and ensure you are confident that this client can support credit for at least 4 months!

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13 years 8 months ago #350 by Signandprint
U currently have 2 clients.

1 Who owes me money from December, and has made no contact with me regarding payment. (my terms are 21 days). I sent a statement and chased that up with a phone call. They tell me they received the statement but not the invoice. They never contacted me to ask for a duplicate invoice, nor have they attempted to make payment.

Another client, I was owed money from November, and are paying in dribs and drabs, only after much hassling, and cold calling to remind them. Again terms are 21 days, and they are dragging their heels in paying the remaining balance. Granted it is only £35.00 now, (it was over £100.00 at the beginning) but still is really winding me up the chasing about I need to do, just to get £10.00 out of them!


So I would like to charge interest on both accounts, and claim my compensation as they're taking the mick, and have the benefit of two nice new signs, encouraging business, when they haven't even paid for them!

Do I now raise an invoice for my compensation to both companies. (VAT free), and then in sage charge my interest? Do I have to send both invoices, and a statement to the clients?

Or do I wait for the client to finally make payment and then charge the interest?

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13 years 8 months ago #351 by David J
Replied by David J on topic Re:Selling to Italy?
Hello David
When you make a claim for interest and compensation you send a letter stating the amount of interest and compensation owed.

You best bet is to spend some time reading through the legislation users guide.

This link to the letters and forms section has a template letter that you can send to the clients.

David

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13 years 8 months ago #354 by Jim Copeland
I understand that there is new Prompt Payment Legislation in France and Spain. Are there any details available Please.

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