Whether you are a small business sending out invoices, a company leasing equipment, or a bank lending money, the first step in assuring payment is good, clear, concise documentation supporting your extension of credit.
The promise to pay, the possible warranties, the grant of security interest, and perfection of the securities all begin with your documents, invoices, promissory notes, loan agreements, and guaranties. Each contains a commitment that can be later exercised in the event that the customer does not pay. Documents do not have to be voluminous as long as they contain the necessary elements, they do not even have to be on paper. Advent electronic signatures expedites your transactions while creating legally enforceable obligations. The future is upon us with the advent of digital and self-executing contracts. Thomas E. Reilly can help through consultation and drafting so that in the event the customer fails to honor their promise to pay, you will be prepared to take action necessary to encourage or exact payment.