The Collection Programme means the collection effort of a firm as decided by the credit policy. The objective of the collection policy is to collect the receivables in time. The collection programme consists of the following details:
(1) Monitoring the state of receivables,
(2) Dispatch the letters to customers, whose due date is approaching,
(3) communicate the customers by telephone at about the due date,
(4) Threat of legal action to overdue accounts,
(5) Actual legal action against overdue accounts.
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