In these extremely busy times, it is important for fabricators to keep on top of their builders’ debts, especially when a builder moves from fabricator to fabricator leaving debt in their trail or when they have a bad habit of charging excessive back charges.
Over the years, we have sent emails to fabricators titled Do You Use This Builder, which has helped many a fabricator either avoid being left with a debt or has resulted in the fabricator being able to talk to the builder about their behaviour.
It is more important than ever before for our sector to work together to keep on top of this issue and FTMA Australia has increased our ability to help in this area.
We have teamed up with Creditor Watch to enable us to check the credit history of the builders sent to us from fabricators before sending out alerts to members.
So how does this work?
If you have a builder who owes money way past the trading terms or you know of a builder that is going under, please send as much of the following information to FTMA Australia,
- Name of Builder – both personal name and trading name
- ABN details
- Registered address of builder
- Further details on the situation, i.e., how overdue is the invoice etc.
Once information is sent to FTMA, we will check the credit history of the builder on Creditor Watch, including a director due diligence check and file the information, before sending the email to fabricators simply asking Do You Use This Builder? If members do use that builder they will be encouraged to call me for further information.
What this service does not provide is,
- Checking details for fabricators before accounts are approved.
- Taking phone calls to check on directors or builders credit history without having dealt with them and experienced your own bad debt.
If you have any questions, please give me a call on 0418 226 242 or email me at firstname.lastname@example.org
FTMA Australia is investing into this program to reduce the risk to fabricators during these unprecedented times.