Our collection system involves a series of planned activities from calling, personal visits, and formal written communication until we are able to effectuate a settlement in full or arrange an amicable payment plan

Address verification

An additional service we offer to our clients- especially our international clients who rely on mere papers to establish the address of a prospective client , is the tracing and verification of address locally. This will ensure that from the outset, you have accurate information regarding your debtor and his business

Determine credit worthiness of a new prospective customer

SPAR has the expertise to assess and advise you on the credit worthiness of clients. This is done through the analysis of clients' financial records, local references, appraisal of the industry and future forecasts, checking up on local credit listings etc.

Filing relevant entries at the respective Fraud Bureau and police stations

This becomes essential in cases where your debtor has given you a cheque/series of cheques, which have not been honored by the banker. These entries are required to be done through a lawyer as per the legal laws prevailing, and serve to strengthen your case in the event you decide to resort to legal action to recover your dues

Commercial litigation

As a final resort, should you decide to proceed with legal action to recover your dues, we are in a position to offer you the legal services of Sudath Perera Associates, who have already established themselves as a forerunner in litigation work in Sri-Lanka.

Being aware that the legal recourse could be costly both in terms of money spent as well as the time taken, Sudath Perera Associates have designed an innovative “ block fee” legal recovery proposal, which ensures best possible effort for the speedy settlement of your dues in the most cost effective manner

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OUR PHILOSOPHY FOR AN EFFECTIVE COLLECTION AGREEMENT

•  Value and speed of collections

We place great emphasis on the value of collections, and thus spend time planning out our strategy to ensure maximum collections within a short period of time. We understand that different sectors of business have different characteristics, seasonal variations etc. and plan our strategy taking these unique features into account

•  Progress reports

Unlike other collectors, we keep you updated at frequent pre-decided intervals. We understand that information on past-due accounts is useful for making future business decisions. Thus we encourage regular review meetings at a time and place convenient to you, and are also committed to sending you regular reports on the work done, and monies expected, thereby ensuring that you could manage your cash flows better

•  Today's defaulter may be tomorrow's customer

We recognize and appreciate the fact that business is constantly changing, and it does little or no good in alienating customers, who though in poor form currently may turn to be a good prospect to your business in the future. Thus, emphasis is paid a great deal to handling defaulters with firmness but tact and dignity. Our staff is especially trained in this aspect, and at all times will maintain a high code of ethics

•  Honesty, integrity and transparency

This is critical in any relationship, and we believe more so in a money collection agreement. Systems and processes are in place to ensure that there is no room for manipulation or fraud. All monies collected on your behalf will go to a designated collection account, and be remitted/delivered to you within a pre-specified short period.

•  Flexibility

A key word in all business today is flexibility, and whilst an agreement will need to be signed to formalize the collection process, we are always open to new suggestions and ideas, which would be to the mutual benefit of both parties to the collection agreement