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Debt management

Receivables management and stages of receivables management

Updated over a week ago

CopeCart offers automated receivables management for you when selling on account.

Please note that after the first sale on account, you will be asked by email for your general settings for the receivables' management. If we do not receive a response within 7 days, the default setting will be applied. Deviations are not possible.

Your customer will receive two reminders from CopeCart by email, 10 and 20 days after his purchase.

If the customer does not pay after the second reminder, we will take further steps in your and our interest. For this purpose, we have a highly professional collection partner on board at CopeCart, who will take over the further steps for us.

Please let us know within 7 days if you do NOT want us to automatically forward your customers to our collection partner. The alternative is that purchases will be automatically cancelled after 30 days without payment.

All letters, emails, and messages are coordinated with us and comply with our communication guidelines. Of course, this service is included with your CopeCart Vendor Account.

Receivables management consists of three stages and can be stopped by the Vendor at any time up to the point of transfer to collections.

First stage:

Five days after purchase, the buyer receives an automatic payment reminder.

Receivables management includes two written reminders, as well as an automatic payment reminder and, if desired, transfer to our collection partner.

Second stage:

If we do not receive payment ten days after invoicing, a written reminder is sent.

If we still do not determine receipt of payment 20 days after invoicing, the second written reminder will be sent with the notice that in case of non-payment, we reserve the right to forward the claim to our collection partner.

Third stage:

If the buyer does not respond to any of the reminders, no payment is received, the claim will be forwarded to our collection partner.

The collection partner is a registered collection agency, which, if necessary, proceeds to court settlement.

In the case of installment payments, the buyer will receive an invoice after the purchase with the total amount of the order. Part of this invoice is listed the agreed payment schedule with number of installments and due date of the installments. Five days before the due date of each installment, the buyer will receive an automatic payment reminder by mail. For each installment, the procedure described above is applied in connection with the due date of the installment.

For further questions, please feel free to contact our support team.

Best regards

Your CopeCart Team

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