Page 266 - A Banker Down the Rabbit Hole

suit in a "Court of Small Causes" by paying just SGD200 as court fee."
My boss was very pleased and cajoled me to proceed.

We filed the case.
Within a week, both the parties were asked to meet in the court of small
causes for reconciliation proceedings. The judge counseled the buyer that
it was in the interest of both parties to settle the issue in that court as it
was very expensive if the seller went to file a case in civil court. The buyer
would have to pay all the costs of suit along with the value of goods plus
interest for delay.

He then asked the buyer if he had actually taken the goods and what were
the reasons for non-payment and dispute. The buyer confirmed that he
had bought and received goods but due to slow business could not pay
the amount. He pleaded that if the entire interest of about SGD 8000
could be waived and a 20% discount (about SGD 9000) is given for the
value of goods, he could pay up to SGD 36,000 in six equal monthly
installments. The compromise proposal was prepared and signed by all
parties with the seal of the court of small causes and a copy each was
delivered to both parties.

The buyer paid as per court agreement. RECOVERED!

Insights from the episode
1. Self-respect is above all. Those who want to keep their reputation,
they only will pay sooner or later.
2. Usually, the businesses want to continue doing business and meet
their obligations.

3. The borrower is not always broke. There are willful defaulters also.

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