Corralling Your Unclaimed Property: The simplest answer to your Unclaimed Property problem – prevent it.

Sponsored By MarketSphere Consulting

Topics:

Banking & Capital Markets > Alternative Finance

Finance & Risk Management > Expense Management

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Abstract:

It’s amazing how many organizations spend so much valuable time and financial resources applying “best practices” with their Unclaimed Property issues after stale-dated property has become a problem. This is akin to a cattle rancher paying a lot of money to routinely have his cattle rounded up rather than spending a little money to fix the latch on the gate. Along those lines, wouldn’t the best practice prevent stale-dated and long-standing obligations from surfacing months, even years, down the road – when the facts and circumstances have become hazy? Certainly, not all stale-dated property can be avoided. People lose checks. Believe it or not, people also refuse to cash checks, sometimes for valid reasons (e.g., cashing some insurance settlement checks constitute acceptance of final settlement provisions). Other “uncashed checks” are not even valid outstanding liabilities.

DETAILS

Sponsored by: MarketSphere Consulting

Released: January 21, 2009

Length: 6 pages

Format: PDF (252 kb)

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