During August FTMA hosted a Webinar with Patrick Schweizer, Director of Alares, which is a simple automated, cost-effective way to keep on top of the ever increasing builders debts.
A week doesn’t go by without the media reporting on another builder going bust or struggling, through what they are calling the profitless housing boom, and FTMA wants to ensure fabricators are not burnt by builders debts.
Many members receive reports from NCI or Creditor Watch to manage their financial risks relating to customers, suppliers and other key stakeholders, but let me be clear, NO other credit agency provides this kind of information, especially for the price.
This is a completely different monitoring program than we have seen before. Other credit agencies report on monetary claims awarded in court, whereas Alares reports:
- All other monetary claims
- Building disputes
- Damages claims
- Breaches of contract
- Commercial disputes
- Setting aside statutory demands
- Workplace / employment disputes
- Plaintiff Court action
Companies spend a lot of money to avoid being reported to a credit agency. They can appear in court dozens of times, but if no monetary claim is awarded, you won’t know about it.
During the Webinar, I asked Patrick to provide a live example on his platform on ProBuild, given we all know the outcome. Patrick took us on a live demo that showed that twelve months before ProBuild went bust, they had considerable judgements against them in court. I cannot be clearer, that this is nothing you’ve seen before, and all fabricators should explore further.
As soon as the news broke about another Queensland builder Oracle, going bust, I asked Patrick if he could produce a report to show how far back things started going wrong. It was another perfect example, as it showed for the past 6-8 months at least they had many court appearances. Whether the builder is the defendant or the plaintiff, it will show in the Alares reporting. Whether they are found guilty or not, if they appear in court, the Alares reporting shows the reasons.
Costings
If you have a builder come to you and ask for an account to be opened, what action do you take? How much money does it cost to check on this builder?
With Alares the cost is $10. Yes, you heard me, it is only $10 to do a credit check on a builder. If you then bring them on board as an account customer, you can continue to monitor them for $5 per annum, and as I’ve said, even if they have a breach of contract, employment dispute or are the plaintiff, you will know about it with the Alares reporting.
Webinar
To view the 45 minute FTMA Webinar where Patrick provides a live example, please click here.
Oracle Building Corporation Report
To view the report on Oracle Building Corporation, please click here.
Patrick’s Contact Details
Patrick Schweizer | Director
Level 27, 10 Eagle St, Brisbane QLD 4000
m: 0418 739 921 | e: patrick@alares.com.au | w: www.alares.com.au
If anyone requires further information, or would like to discuss this further, please contact me on 0418 226 242. FTMA Australia believes the best way our sector can be protected against the ever increasing builders debts, is to monitor them and the Alares program allows you to do that in an affordable way.
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