Collecting debts from customers can be unpleasant and can often take considerable time away from the more productive aspects of running a business. Measures can be adopted to prevent problems arising the first place (see above under Granting Credit) and ...

Another way of supplying goods is on consignment, which is an arrangement whereby a business supplies goods to be sold by another business. The business selling the goods on behalf of the supplier does not own the goods, but rather ...

Section 18 of the Sale of Goods Act 1895 (SA) sets out rules regarding when title to goods passes, including a rule that title passes if a contract is silent on the time of delivery or payment. A well-drafted Retention of Title ...

The Personal Property Securities Register commenced operation in Australia in January 2011. It marks a change in the way that security interests in personal property (not real property) are registered and affects the way that businesses borrow money, and lease or buy and sell ...

If your customer is a company, you can ask the directors to provide a personal guarantee the payment of any debt owed to your business. That way if the company is wound up, you have recourse to the assets of ...

Sometimes there is pressure from other businesses to provide credit, that is to enter into an arrangement whereby payment for goods or services is deferred. Whilst this is quite common, for obvious reasons it carries the risk of never being ...

Insurance is essential, irrespective of the type business structure (company, sole trader or partnership) that is used to run a business. Advice should be sought from a reputable insurance broker, as there are often industry-specific options available as a package. ...

The main source of regulation for franchises is the Franchising Code of Conduct, which regulates the conduct of franchisors. The Code is mandatory and commenced on 1 January 2015. It applies to all franchises renewed extended or transferred after that date, as well as new ...

Under the Land and Business (Sale and Conveyancing) Act 1994 (SA) anyone selling a business for less than $300 000 (exclusive of GST) must give the purchaser a Form 2 [ss 5,7,8,10]. A Form 2 must be given even if the purchaser does not ...

In South Australia, a contract for the sale of a business where the purchase price paid is less than $300,000 (exclusive of GST) is governed by the Land and Business (Sale and Conveyancing) Act 1994 (SA). The Act sets out a number ...