Engineering Case Studies

Are you in the engineering industry? We have put together a selection of case studies from clients we have helped within the engineering industry.

Engineering Case Studies

Engineering 

Debt: £36,000

Challenge: Our client provided engineering services to an international company based in Asia and the US. Various invoices totalling £36,000 had been outstanding for 12 – 18 months with no apparent reason for non-payment.

Solution: Initial engagements with the debtor went unanswered. As our process escalated it became clear the company was in financial difficulty. In addition, they had various queries in respect of the paperwork which needed to be resolved. Evidence that payment was due was produced, however, the company then filed for Chapter 11 bankruptcy in the US and advised payment could not be made. On review of the insolvency paperwork, it was established that supplier payments must be paid in full and therefore, we continued to pursue via the Asian arm.

Result: After several weeks of chasing, payment of £36,000 was received in full.

Engineering Case Studies - Precision Engineering Services

Precision Engineering Services 

Debt: £8,300

Challenge: Our client provided precision engineering services to a customer in the Marine industry. Payments were historically slow and whilst the account had reduced, no payments had been received for 2 months and the invoices ranged from 3 – 6 months old.

Solution: We engaged with the debtor both at a local office level and Head Office. During our communications, we stressed upon the debtor that our client had been understanding to date but that they could not allow this to continue unaddressed any longer.  The implications of non payment were made clear, both in terms of costs and the next steps. Agreement was reached for payment to avoid a Winding Up Petition.

Result: £9,600 received within 14 days. Payment in full, plus costs and interest.

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