Accounts Receivable Policy

.........from the Board

 

2018 Accounts Receivable Policy

 

Dear Members:

We would like to inform you that since the General Membership Meeting in June of this year, we have been able  to considerably reduce our accounts receivable balance.  We are, however, not there yet as there are still a considerable number of overdue invoices that have not been paid. 

In our email of June 29, 2018 we pointed out that the process of collecting payments of invoices is a process that requires considerable time and effort and we kindly requested the membership to pay the invoices on time.  Even though the majority of you comply, there are still too many who do not.  So in order to motivate the so-called “defaulters” (in dutch “wanbetalers) to change their payment habits, we decided to take a look at our current accounts receivable policy [of September 1, 2016] and make the necessary changes.  

As a result, we have come up with the following new accounts receivable policy which will go into effect on this day, October 1, 2018:

 

  1. On the first working day of each month, invoices will be generated and emailed to the membership.

  2. If payment for an invoice has not been received after 45 days, those in default will receive a written reminder.

  3. If payment for an invoice still has not been received after 60 days, those in default will be contacted and their bar- and proshop signing privileges will be suspended and they will not be able to participate in official club matches that require match fee.

  4. If payment for an invoice still has not been received after 90 days, those in default will be contacted in writing that in addition to the measures mentioned in 3., their access to the golf course, squash courts, locker rooms and golfbag storage room will be suspended.  In addition,  3 % of the outstanding balance will be added every month to the account as administration fee.

  5. If payment for an invoice still has not been received after 120 days, the account will be handed over to a collection agency.  All fees related to this will be charged to the member in question.  Members whose account have been sent to a collection agency, will be prohibited access to the club’s premises.


Please note that in case of company memberships, the above-mentioned will be applied to all the representative members of a company membership in case the company membership fee has not been been paid by March 31 of the membership year.

As for all current outstanding balances (30-60, 60-90, 90>), we will extend a grace period of two weeks as of this date to settle the accounts.  If default accounts are not settled by Monday, October 15, 2018, we will immediately go over to apply the measures mentioned earlier in steps 3, 4 and 5.

We sincerely hope that we can count on your cooperation and remain.

With best regards.

The Board of the Curaçao Golf & Squash Club