Debt Recovery Policy

(FN001)

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Resources for the purposes of training and assessment of students enrolled in vocational
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Debt Recovery Policy

Purpose
This policy ensures that debt owed to Complete Business Solutions Australia (CBSA) can try to be
recovered to avoid bad debt.

Policy
1. Standard payment terms

 CBSA payment terms for debtors are 30 days from the date of the invoice.
2. Issuing of Debtor Invoices

 The Accounts Officer will raise all invoices for service fees and charges in accordance
with the Fees, Charges and Refund Policy.
3. Recovery of debt

 CBSA will undertake all efforts to collect outstanding monies for all services rendered,
works completed and good delivered including:

 Attempting to contact the client after 30 days from date of issue of invoice if payment
not made.
 Issuing a Letter of Payment after 60 days of non-payment.

Related policies, procedures, forms, and documents

The following are related to this policy:

 FN002 - Fees, Charges and Refund Policy

 TM010 – Invoice Template
 TM012 – Letter of Payment

FN003 Debt Recovery Policy Version 1 Page 2 of 3

© Eduworks Resources a division of RTO Advice Group CBSA – A simulated business by Eduworks Resources
 Debt Recovery Policy

Document Control
Document No. & Name: 488366540.docx

Quality Area: FN– Finance

Author: Complete Business Solutions Australia (CBSA

Status: Approved

Approved By: Henry Thomas

Approval Date: 26/10/2019

Review Date: 27/10/2019

FN003 Debt Recovery Policy Version 1 Page 3 of 3

© Eduworks Resources a division of RTO Advice Group CBSA – A simulated business by Eduworks Resources