An American plastic producer regularly furnished products to a Spanish wholesaler. The two firms had a solid relationship dating back many years.
Suddenly invoices stopped being paid.
The e-mails sent by the manufacturer were not answered and, from phone calls, it was obvious that the referent of the Spanish company was avoiding any kind of contact.
WayOut Strategy got engaged with instructions to collect the outstanding amount.
WayOut Strategy started contacts with the debtor company and in short time fixed a meeting with the director.
At the same time WayOut Strategy conducted some investigations to collect information about the debtor company.
It was discovered that the wholesaler was in a serious financial crisis.
On the day of the meeting the matter was confirmed by the director, who however had expressed the will to deal with his debt in order to continue to entertain commercial relations with the producer.
Thus, a negotiation with the debtor started.
WayOut Strategy informed its client about the state of affairs and communicated that the debtor company was willing to cooperate.
After some days of negotiations, the debtor company sent an official repayment proposal, structured into six monthly instalments for the payment of the total amount.
WayOut Strategy informed its client and it was advised that, due to the state of affairs, the option of a long and expensive legal action would not have been more successful.
The transaction was the best strategy to adopt.
The American company therefore accepted the wholesaler’s repayment plan and the payments were made every month on schedule .
Subsequently, the wholesaler was slowly solving its financial problems and the commercial relationship between the two companies has been restored.
The knowledge of the national market and the professional way of approaches of WayOut Strategy were key factors in succeeding collecting the money.