The most common legal problem for Hong Kong enterprises is debt collection, which includes the trading industry. According to our experience, the bad debt of some of our trading clients is more than 50% of their gross income. This serious bad debt not only affects the company’s cash flow; it also influences the company’s overall financial status, and hence the company does not have the capacity to glow or expand easily.
At Huen’s, we can help you settle bad debt through litigation, and, more importantly, assist you to prevent bad debt. For instance, you can safeguard your property or interest by preparing tailor made buy-sell agreements with protective terms. Moreover, to simplify the process of dunning for the debt, the quotation or invoice should include detailed payment terms.