About Us
About Us
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At Claims Recovery Group we have extensive experience in recovering wrongful post-audit claims. We have been in this business for more than 25 years, and have recovered millions of dollars for almost 50 large food and CPG manufacturers that do business with Canadian retailers.
Our sole focus is maximizing the dollar value of our claims recovery services to benefit your bottom line and reinvest funds into your trade spending account.
How It Works
How It Works
Record
Record
We collate all claims received by the manufacturer and compare it against contracts, order forms, invoices, freight bills and other supporting documentation.
Review
Review
We do a claims audit and create a detailed report with all erroneous and wrongful claims for your consideration. We typically find that up to 60% of audit claims are wrong.
Reclaim
Reclaim
Upon your approval we negotiate with the 3rd party auditor of your client who has submitted the wrongful claim, and provide them with irrefutable documentation and proof.
Recover
Recover
We recover the money that is rightfully yours, so you can use it again for trade promotion. You compensate us after you have received your payment.
Things You Need to Know About Post-Audit Claims
Things You Need to Know About Post-Audit Claims
The first thing you need to know about post-audit claims is that they are different than the regular claims that you file with your bank. When you audit your account, you find things that have gone wrong, either with the bank or your accounting department. A typical audit involves finding things like check fraud or debit card fraud, or accounting errors, which are then used by the bank to cancel your checks and credit card accounts. While these types of claims often get the attention of the auditing company, they are not the only ones that you can be audited for.
In addition to these standard claims, you may also be audited for a variety of other reasons. Some of them include examining whether your bank has provided a safe environment for your transactions, looking into possible tax fraud, suspicious activity, or other criminal activity. Sometimes, the post-audit claims that the bank sends you are simply a review of how well they have managed your account over the past year, or an examination of your methods for managing your account (such as whether you use direct deposit). Other times, you may be audited for things like accounting errors, failure to obtain enough fund limits from your checking account, or opening too many credit card accounts. Whatever the reason, your goal should always be to find out what the problem was in your particular case, rather than just fix things so they will go away.
Another important thing you need to know about post-audit claims is that you can expect to pay a lot more money to the bank if you win the audit case. This is because the post audit claim requires the bank to prove that you did something wrong in order to validly retrieve the funds. If they are unable to do so, the money is supposed to go back to the customer. However, many times it is found that the customer was not trying to defraud the bank, and therefore the post-audit claim is thrown out, and the customer is awarded back the money.
Some banks use post audit claims to prevent future claims. For example, a bank might request an additional post Audit Claim Examination from the customer. If you request an additional examination, you must pay a portion of the audit fees. There are even cases where the bank will refuse to pay you anything if you win your post Audit Claim Examination. If you find that this is the case, then it's probably best to just accept the audit claim.
In addition to having a strong case, you also need to remember that there are certain rules that must be followed when filing a post Audit Claim Examination. For instance, the bank needs to give you a written notice within a reasonable amount of time. If they fail to do so, then you can file a lawsuit against them. If you win your post Audit Claim Examination, then you will receive a percentage of the entire amount of money recovered. However, you should make sure that you don't lose your lawsuit, as some companies actually prefer for the bank to lose their case rather than pay you.
You should also keep in mind that if your claim was denied by the auditing company, then it is important to file another audit claim. In some cases, the bank may deny your second audit claim due to a lack of supporting documentation. To make sure that things work properly, you should hire a certified audit management firm. When choosing a certified audit management firm, you need to look for one with experience in these lawsuits.
Claims Recovery Group Inc.
Toronto, Ontario - Canada
416-409-8640
philip@claimsrecoverygroup.com
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