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A late account can contain different problems
Separate a missing invoice reference, an acceptance dispute, a promised payment not received and evidence of financial difficulty. The right next question and responsible person differ for each. Keep the dates and the customer’s actual explanation.
Export Development Canada (EDC)’s policy-reporting example asks for material such as statements, proof of debt/shipment and correspondence, alongside the policy’s own obligations. That supports an evidence-first approach, not access to EDC services for every reader or a general collection deadline.
Build a short dossier before approving the next step
Give the owner or CFO a reconciled record, with sensitive material held in the business’s authorised process.
| Issue | Evidence and owner |
|---|---|
| Amount and due event | Agreement, invoice, agreed credits, receipts and payment trigger |
| Delivery or acceptance | Required performance evidence and any missing buyer approval |
| Dispute | Specific objection, response, proposed resolution and authority |
| Payment follow-up | Dated promises, actual receipts and correspondence |
| Protection and options | Relevant policy/security conditions and scoped legal/commercial advice |
Do not confuse an ageing total with one undisputed debt
Fictional example: the ledger shows US$45,000 overdue. Of that, US$30,000 relates to accepted work with no recorded dispute, US$10,000 is challenged by the buyer and US$5,000 is awaiting an agreed credit decision. Those categories add to US$45,000 but need different follow-up.
Confirm each category before changing the ledger or making a legal assertion. A requested credit is not automatically an approved reduction, and a missing dispute note does not prove the customer has no defence.
Choose a supported action and protect the next commitment
Management may need to correct documentation, resolve a commercial issue, pursue an insurance/security process or obtain legal collection advice. Check actual notice and consent requirements promptly; do not copy a waiting period from another policy or jurisdiction.
Review further orders and commitments within the actual agreement. This article creates no automatic right to suspend, terminate or charge interest. Use the monthly cash model to see the business effect while the evidence and chosen action develop.
Scope
- Fictional reconciliation and general preparation only. Actual debt, dispute, policy obligations, collection remedies, interest and service-continuity rights require their own assessment.
Next step
Use Cash runway to test the wider monthly cash position. Keep a separate reconciled overdue-account dossier, responsible action owner and dated decision record.
Sources & review notes
Export Development Canada
Passage, dates and research notes
official-guidance · Policy obligations and Documents/Comments evidence requirements
Complete page read. Policy-specific reporting example; no EDC service eligibility or universal collection deadline is assumed.
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