How to Handle Unpaid Invoices in Singapore: A 2024 Guide
Unpaid Invoices: An Ongoing Issue
Delayed payments are a recurring challenge. Here’s a refined approach to managing small claims in 2024.
Updated Steps
- Assess Small Claims Eligibility:
- Verify your qualification and the associated costs.
- Consider engaging a lawyer for a “letter of demand and writ of summons.”
- Prepare and File Evidence:
- Once your evidence is filed, you’ll receive a court date for mediation.
- Notify the Counterparty:
- Print all relevant documents and send them via registered mail to the company’s and directors’ addresses.
- Submit Authorization Letter:
- If you’re not the sole director, ensure a letter of authorization is submitted before mediation.
- Attend Mediation Promptly:
- Arrive early to avoid any disadvantage.
- If the respondent is late, the case might be resolved in your favor.
Personal Mediation Experience
Arriving late can be disadvantageous. Here’s an updated recount of my experience:
- Despite being late due to unforeseen circumstances, I managed to attend the session.
- The session was intimidating but manageable. The respondent’s late arrival led to a rescheduled final hearing.
Final Verdict
- The counterparty didn’t attend the next session, leading to a conditional win.
- However, we still didn’t receive payment.
Lessons for 2024
- Winning mediation allows for further legal action, but it might not be worth the cost.
- Ensure you charge amounts worth fighting for in court.
Conclusion
This updated experience emphasizes the importance of foresight and making informed business decisions. Share your similar stories, and let’s strive for excellence in our businesses, communities, and families in 2024.