Any Accountants/ Credit Managers Based In Thailand?

[tariq]

Hi

Recently applied for a Credit Manager job in Thailand for a tech company. They welcopme applications from farangs.

I'm after some info please:

1. How do buisiness to business services usually get billed in LOS? Normal invoices? And what are standard payment terms in LOS - 30 days from invoice?

2. How do businesses usually par for services? Bank transfer, cheque etc?

3. In the UK when chasing payment the normal process would be bill, reminder letter, final demand, letter before action from a solicitor and then legal action through the courts. What''s the normal process in LOS for business to business debts.

4. What does the legal proces consist of in LOS when chasing debrs throught the coutts and what enforcements methods are available?

I appreciate I'm probably going to be lucky to get the info I need here but any help is greatly appreciated.

Many thanks

Taz...

[JimsKnight]

Hi

Recently applied for a Credit Manager job in Thailand for a tech company. They welcopme applications from farangs.

I'm after some info please:

1. How do buisiness to business services usually get billed in LOS? Normal invoices? And what are standard payment terms in LOS - 30 days from invoice?

2. How do businesses usually par for services? Bank transfer, cheque etc?

3. In the UK when chasing payment the normal process would be bill, reminder letter, final demand, letter before action from a solicitor and then legal action through the courts. What''s the normal process in LOS for business to business debts.

4. What does the legal proces consist of in LOS when chasing debrs throught the coutts and what enforcements methods are available?

I appreciate I'm probably going to be lucky to get the info I need here but any help is greatly appreciated.

Many thanks

Taz...

Taz good luck. I wasn't even aware that falangs were eligable or even permitted into that job type.

Sounds a murky world to get involved in...

[tariq]

Hi Jimsknight

Thanks for the good luck

Well over the past 3 years I have seen 2 credit manager jobs for farangs and both have been with companies linked to Thaksin. I think you're right though, they're not normally open to farangs.

Murky world to get involved in? hel_l no....its a professional position. Nothing to do with sending the boys round with big coats and baseball bats to collect the debt.. unless I've totally misunderstood how business to business debts are collected in Thailand?!

If anyone has any info relating to my original message i'd appreciate it. Or if anyone can point me in the right direction that would be great.

Some of you expats with businesses must have some idea? C'mon.. spill the beans!!

Cheers

Taz...

[Wekhin]

Hi

Recently applied for a Credit Manager job in Thailand for a tech company. They welcopme applications from farangs.

I'm after some info please:

1. How do buisiness to business services usually get billed in LOS? Normal invoices? And what are standard payment terms in LOS - 30 days from invoice?

2. How do businesses usually par for services? Bank transfer, cheque etc?

3. In the UK when chasing payment the normal process would be bill, reminder letter, final demand, letter before action from a solicitor and then legal action through the courts. What''s the normal process in LOS for business to business debts.

4. What does the legal proces consist of in LOS when chasing debrs throught the coutts and what enforcements methods are available?

I appreciate I'm probably going to be lucky to get the info I need here but any help is greatly appreciated.

Many thanks

Taz...

1. It can be invoice or billing note(some people call it debit note). Invoice is normally for but not limited to goods. Billing note is more appropriate for service. Still, it depends on accounting method a company use. It is accountant to determine which one to use. I guess you need not worry about it. Credit terms are normally 30, 60, or 90 days depending on company policy.

2. Cheque and bank transfer are normal for b2b.

3. Same here.

[tariq]

Great stuff.. thanks for the reply!

Cheers

Taz...

[bendix]

It sounds perilously close to an accountant to me, and accountancy is definitely on the list of professions prohibited to farangs.

[Nemo.]

Hi Jimsknight

Thanks for the good luck

Well over the past 3 years I have seen 2 credit manager jobs for farangs and both have been with companies linked to Thaksin. I think you're right though, they're not normally open to farangs.

Murky world to get involved in? hel_l no....its a professional position. Nothing to do with sending the boys round with big coats and baseball bats to collect the debt.. unless I've totally misunderstood how business to business debts are collected in Thailand?!

If anyone has any info relating to my original message i'd appreciate it. Or if anyone can point me in the right direction that would be great.

Some of you expats with businesses must have some idea? C'mon.. spill the beans!!

Cheers

Taz...

Well certainly Accountancy/auditing and related fields are ILLEGAL for farangs to work in. Obviously a few can get in if the company loves you and "bends the rules" with a bribe

Having advised a Malaysian bank on risk systems and processes (I am a Chartered accountant with an ex city career in risk management and credit) all I can say is be prepared to be offered a large bribe to "shut up" or get death threats if that dont work! And in asia contract killers are cheap and easy to get hold of. risks are low to be caught as the police can be bribed (often they will supply one for you!)

I personally wouldnt touch a Thai bank with a barge pole. But hey I wouldnt take a bribe even if it was 7 figures (was offered once). Thats just me. Honest and poor! (and alive/not in jail).

Tech companies will be same same as banks I presume............

One of the funniest things I saw was debt chasing for mortgaes and cars. These were the problems

1. When the new car finance system was put in "enterprising" staff phoned up customers offering to wipe all details of the debt off the new system (ie noit to transfer the data) for a % of the o/s debt. Great idea guys! They reallydestroyed all audit trails. End result black hole in balance sheet!

2. Mortgage repossesion often dont work as the papaerwork doesnt add up. A 5 million mortgage on a 1 million house ..... well the branch fiddles the paperwork and everyone (inc lawyers) take a cut! ANy internal auditor getting involved faces a contract killer.........

3. Its far cheaper to bribe your way out of debt than actually repay. Often large debts were obtained by bribery anyway!

Edited October 6, 2006 by Nemo.