Jewelers Board of Trade Collection Options

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Collection Options

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Collection Options

There’s no better time than now to let JBT help you tackle those slow payers and strengthen your cash flow, so you can concentrate on all the other challenges of managing your business. To benefit from our acclaimed Collection services, apply for JBT membership today.

The JBT holds a certificate of compliance with the Commercial Collection Agency Association. (CCAA)

Listed below are our collection options.

This no-cost approach has helped thousands of members and collected millions of dollars each year.

Members simply use our Claims Submission form to submit claims to us by mail, fax or even better, on-line. JBT then notifies the Debtor that we have been retained to purse collection.

You decide the “Free Demand” timeframe (10, 20 or 30 days after placing the claim) after which active JBT collector-driven contact starts with the Debtor.

If you notify us of payment before the “Free Demand” period expires, you pay us absolutely nothing. Collecting just one claim in Free Demand status saves an average $850 in collection fees, about the equivalent of JBT annual dues.

If a slow payer remains unresponsive to our Free Demand process, JBT’s professionally trained, CLLA Certified collection staff will step in. Collector Action begins the day after the Free Demand expiration date that the member has previously selected.

Through phone contact and letters, our staff aggressively pursues the Debtor and negotiates payment schedules, all with member approval. Members stay informed of our progress via online access to their claim status anytime.

Fees: 15% fee on collected funds, with a minimum charge of $45 on claims collected under $300.00. Merchandise returns are billed at 7.5% of the value of the return (subject to $45.00 minimum).

When even more vigorous pursuit of a member’s claim is warranted, JBT’s network of over 500 attorneys throughout the U.S. is ready to help. All are bonded and experienced in managing claims through legal judgment and execution.

Even if your debtor is located outside the U.S., we can arrange for appropriate legal counsel.

Fee: Contingency basis, with minimum charge of $25; plus a JBT commission, with a minimum charge of $12.50.