Credit insurance and receivables management company Gerling NCM has launched a contract debt collection service to help companies that endure late payments.

The service is aimed at companies with a number of regular late payers and allows its clients to contract out some or all of its debts.

Lisa Edmonds, the head of UK marketing at Gerling NCM, said: "Effective cash flow management is central to the operation of a successful business and keeping your debts under control is an important part of that.

"This service takes away all the hassle from the customer. They don't have to think about chasing their debtors - they just hand it over to us and we do all the hard work."

The system has a `no collection, no fee' clause and customers pay a retainer fee in addition to commission on each debt recovered.

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