Introduction
MarSurv Solutions offers a debt collection service for marine surveying and consultancy companies who are having problems receiving payment from clients who are recalcitrant in paying their debts.
We stress that due diligence has been carried out to ensure that the debts are bona fide and that there are no reasons why the debt should not have been paid.
A list of such companies is given below. The names of the offending companies will remain on the list until such time as we are informed by the victims that the debt has been settled.
NOTE:
Some Principals will not pay your invoice until they have been paid by their client which can take many months and sometimes years.
This is morally wrong as your contract is with your client in the first instance and not theirs.
Companies which follow this practice are:
CSL Global
We continue to receive reports of large sums owing for significant periods, ie, more than a year, to various marine survey companies.
Despite repeated requests for payment from creditors CSL Global refuses to pay outstanding debts on demand.
We are also informed by several companies that have insisted on being paid up front that CSL are no longer employing them.
We are led to believe that the company may be insolvent and advise marine surveyors to take appropriate precautions (see below) if accepting an appointment from this company.
W K Webster
Several survey companies have reported that they are unable to receive payment from W K Webster despite being appointed by them. Their excuse is that they have not been paid by their client.
Bad Debtors:
Mr Erik Van De Sande, Transport Management Consultants & Surveyors, Kontich Antwerp, Belgium. US$10,935.40 for more than a year.
Crystal Blue Yacht Charters, Gold Coast, Australia and Jaqueline Gardner, Hawaii, USA. $16,521 owed since December 2017.
LMZ, Puente Austral, Argentina, US$1,00 invoice owing since July ’16.
Henderson International, Dubai. US$2,220.565 owing for more than a year.
Free Bulkers SA, Athens, Greece. US$5,250 owing since March 2015.
Capt. Daljeet Sanghera, Pisces Vessel Consultants LLD, in the amount of USD10,700 owing for 3 years.
Arwad Shipbrokers, Trtous, Syria, in the amount of USD2,600 owing for a 2 years.
Mare Maritime Asia Group Pte Ltd, Singapore. Debt of S$4,155.20 owing since 14 September 2016.We believe that these companies may be insolvent as they are unable to pay their current outstanding debts.
CSL Global, London. Debt of GBP5,278 owing since June 2008.
Late payers
Matthews Matson Kelley NY and McLarens Young International are reportedly renowned for taking more than a year to pay surveyors.
One of our readers has also suggested PICC Property and Casualty Ltd, China as an extremely slow payer for services provided.
Another informed us that Tokyo Marine Insurance Singapore Ltd., acting on behalf of Tokyo Marine Claims Services Asia Pte., take between 4 and 5 months to pay survey fees.
Surveyors may choose to:
- Decline to accept appointments.
- Require payment of estimated fees and expenses in advance.
- Insist on payment before issuing your report.
- Include a 10% finance charge when issuing your invoice.
- Add 20% to your invoice to take into account the loss of value of the money owing to you. You may then suggest that if the debtor pays within one week you will give a 20% discount.
Claims
We are aware that one company started legal proceedings in the UK against CSL Global. The parties settled and the survey company recovered all invoices but were paid in four instalments over four months with legal costs of 15% of the claim. This would imply that CSL Global is insolvent as they cannot pay their creditors on demand.
Naming and shaming appears to have the required effect….
MarSurv Solutions will make efforts on your behalf to recover longstanding outstanding debts. The service is based on a ‘no cure, no pay’ basis with a 15% recovery fee. To date we have a 95% success rate.
“85% of something is better than 100% of nothing.” Quote from one of our successful clients.