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Inquiry Details

Inquiry into State Forests' Practice of Trading with Customers that have Defaulted on Renegotiated Repayment Terms

Date of Tabling: 19 December 2002

The matter of renegotiating the repayment terms of customers’ debts and then continuing to trade with them after they have defaulted on their repayments was raised in the Auditor General’s Report to Parliament for 2002 – Volume 1. It is the Committee’s desire to be informed about: the Commission’s practice of allowing customers to accumulate debts and then renegotiating repayment terms, which could be seen as providing them with a commercial advantage the Commission’s ability to effectively manage its debtors and minimise the risk of financial loss through continuing to trade with customers who have defaulted on their repayments. The inquiry by the Committee is to focus on the findings presented in the audit report. The Committee will seek and consider the views of the relevant authorities and provide recommendations for improved trading practices and financial management of its customers’ accounts.