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Creditors Unpaid and Outside Usual Terms
Creditors usually know whether or not they are being paid. Usually as a response to payment not being forthcoming, debtors are put on COD.
That is designed to tell the customer that the supplier has no faith, at least temporarily, in the customer’s ability to meet payments as they fall due.
Post-dated cheques of themself show a cashflow problem which is either short-term or shows that the debtor is insolvent. As a general rule, a short-term cashflow problem should be sorted within 3 or 4 months.
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