Overview
Cash flow and liquidity management is of paramount importance for Coleraine Harbour Commissioners. This credit policy has been designed to maximise profits and profits on sales revenue while minimising exposure to slow-paying customers and business losses, thereby ensuring a healthy cash and working capital position.
Credit Risk Management
In the context of this policy, some receivables may not be recovered as expected. The method of assessing risk and determining a credit limit to customers varies depending on the amount of credit requested and the type of product or service sold.
Coleraine Harbour Commissioners Credit Control Policy is:
Payment for invoices to be paid within 30 days from the date of invoice.
A 20% service charge will be added to the total amount owed for failure to make payment.
10 working days after the invoice has been issued, a telephone call and/or email will be given requesting immediate payment.
If payment has not been made one week after telephone call/email a written letter from the Commissioners will be issued requesting immediate payment.
Failure to make payment after a further 10 days will result in a letter from Coleraine Harbour Commissioners advising that court action will be taken to recover outstanding debts.
Direct Debit per month can be arranged for storage and berthing.
The Boat Owner is responsible for any disposal costs relating to their vessel should it occur. (Please see Terms and Conditions).