Ormita offers a way for businesses to collect bad debts over 120 days old by having debtors pay in goods or services instead of cash. The creditor receives advertising, products, or other goods from Ormita equal to the debt value, avoiding the costs of litigation. Debtors benefit by resolving debts with surplus stock instead of cash. Creditors avoid loss of value from unpaid bills or repossessing assets, while debtors resolve debts without borrowing cash. The process involves lodging the debt with Ormita, who contacts the debtor to arrange transferring goods in exchange for settling the debt.

1. Collect Bad Debt

2. Ormita offers businesses a way to collect bad debt without the need for litigation . Ormita allows the debtor to pay in products rather than cash and will supply the creditor with advertising or other goods and services in return. This is useful for debts older than 120 days where the debtor is unable to pay in cash.

3. Who Needs This Solution Creditors Owed money more than 120 days overdue Those who owe you are at risk of not paying Cost to collect overdue money is high Long-time to collect Value of the debt may be low or high You need the debt repaid now Repossessing assets means you will not receive full value Debtors Having difficulty repaying debts You cannot pay until others pay you You have products which, if sold, could repay the debt but you are having a hard time finding more customers Interest and finance charges to borrow money costs a lot You want to fix your credit history

4. It is common for a debtor to have surplus stock but not surplus cash!

5. Ormita can take Debtors products and give you something else of value in return Why do this? You may not need the product that the debtor sells It may be difficult to re-sell the products immediately for cash If product re-sold it is usually at a discount If the debtor could not sell the products for cash then it is likely that the creditor may also not find a way to sell these products

6. This is an Indirect Exchange www.ormita.com

7. HOW IT WORKS

8. Step 1 You lodge details of the debt with Ormita

9. Step 2 Ormita contacts the debtor

10. Step 3 Ormita receives product from the debtor instead of cash

11. Step 4 You now have a credit in your Ormita account which you can utilise to purchase other goods and services in the Ormita network.

12. Step 5 You do not need to receive the same goods as the Debtor has provided to Ormita. You can select from any other products or services in the Ormita network.

13. Congratulations !! You have just converted a bad debt into goods and services that you need!

14. BENEFITS

15. Overview of Benefits Fixes the problem of very overdue cash Receive value rapidly Quicker than litigation Maximizes the value of what is returned Reduces costs (collection, legal fees, interest) Reduces risk (unpaid bills, business cash-flow being affected)

16. Fixes Overdue Cash Problems Collect debt before it becomes too late! Get in line before other creditors Spend barter credit to buy what you need Debtors pay with goods, making it easy Use trade credits for advertising or marketing Opportunities to purchase internationally Take action before it’s too late

17. Reduces the Cost of Collections Accepting payment now reduces the cost to collect outstanding money later Collection costs Legal fees Time Consulting services Interest Need to borrow money to cover short-term costs

18. Minimises Risk Reduces the risk of long-term debts being uncollectible Receive something of value now instead of later The older the debt the less chance that a debtor will repay Creditors may receive an asset, in hand, instead of a paper “promise ”

19. Protects Your Profit No reduction in value of the debt versus what you recieve You turn an outstanding debt into an asset You have used a debt to buy things you need Cash is saved by the business because you have reduced your cash expenses without decreasing your purchases

20. PRESS COVERAGE