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For a business operating internationally, assessing the solvency of foreign clients is of crucial importance. While obtaining information about the solvency of domestic companies is relatively straightforward, it becomes more complex when dealing with foreign entities. It is essential to note the existence of “International Credit Reports,” documents that provide information about individuals or businesses […]

Aware of the consequences of payment delays on the financial stability of businesses, the European Commission is proposing a new regulation on payment delays. These new rules will only come into effect once the regulation is adopted by the European Parliament and the Council. Subsequently, they will be applicable one year after the entry into […]

Addressing foreign invoice reminders requires a distinct strategic approach compared to domestic unpaid bills. Avoiding the common mistake of handling international debts conventionally is crucial. Here are some best practices to implement. Reminders Abroad: Best Practices Establish a rigorous methodology for international reminders by creating a gradual schedule with precise intervals. To prevent harassment, follow […]

Before entering into any business relationship with a company, regardless of its industry, it is imperative to undertake preliminary work aimed at safeguarding your interests. This is all the more important when it comes to establishing relations with a foreign company. At present, recovering unpaid debts from companies in difficulty is already a complex internal […]

As an international debt collection agency, we are well aware of our clients’ challenges regarding unpaid debts abroad. We have often noticed that General Terms and Conditions of Sale (T&Cs) are too generic and not sufficiently adapted to the international context. These common errors lead to conflict situations where debt recovery becomes more complex than […]

We call shopping nomads buyers who shop in online shops and never thought of paying. They order again and again in the same shop until the company blocks the data and puts them on an internal so-called black list. Then they just go to the next online shop and keep ordering. These buyers aren’t only […]

As a first step, an official warning letter will send to the debtor. If there are no response from the debtor, in the first stage of the debt collection procedure in Croatia, the creditor commences the appropriate execution procedure by forwarding to the debtor the so-called Motion on the Execution Based on the Reliable Documents (reliable documents […]

Message from Spain, a successful international debt recovery file. As members of the international debt recovery network SEKUNDI, we received an assignment from our Belgian partner, who asked us to intervene in the out-of-court claim procedure that his client, a company located in Belgium and dedicated to the treatment of air and industrial gases, had […]

Sekundi’s network of international debt collector professionals solves this problem efficiently. Pappila Penkkala Group Oy is the only Finnish member of the organization. Debt recovery from a foreign country can be a frustrating experience. In Finland, our debt recovery service works by first sending a note of complaint. If this doesn’t work, a collection letter […]

MESSAGE FROM OUR PARTNER IN SPAIN (spanish and english) Debt claim request by a foreign client. As members of the SEKUNDI international debt recovery network, we receive commissioned by our French partner, who asked us to intervene in the extrajudicial claim procedure that your client, a company located in France, and dedicated to the manufacture […]

KPAG Kosmidis & Partners Law Firm approaches each case carefully and chooses the fastest and most cost-effective way to secure debt recovery. Our team starts the extrajudicial recovery proceedings by sending a written demand of payment to the debtor by First Class recorded delivery, followed by phone calls. In certain cases, the demand of payment […]

At first an important aspect for debt collection in Switzerland: unlike many other countries in Europe in Switzerland it is not allowed to put the debtor in account for the cost if the debt collection service providers. The have to be adopted completely by the creditor. Procedure of BURG Inkasso AG : Receiving a collection order […]

Read our comprehensive guide to debt collection in the UK to understand all the steps involved in international debt collection in the UK. Pre-action protocols explain the conduct and set out the steps the court would normally expect parties to take before commencing proceedings for particular types of civil claims. Objectives of pre-action conduct and […]

An international receivable is an unpaid invoice from a foreign debtor. This means you have to deal with laws and regulations that are different from those in your own country. How can you ensure fast, efficient collection of a foreign debt? Here are the answers from our network of collection experts around the world. Find […]

Debt collection as a separate industry is a new concept in Turkey.  Until the 1990s, it has been only the law firms who were involved in collections with the notion of administrative follow-up (idari takip) by hiring young people who are not lawyers but capable of negotiations. With the development of debt purchase industry in Turkey […]

MESSAGE FROM OUR PARTNER IN PORTUGAL (portuguese and english) As instituições financeiras e algumas empresas estão a começar a sentir uma necessidade de tornar os processos e operações de cobrança mais eficientes e eficazes, tornando – seclaramente uma prioridade. Anecessidade de modernizar as operações de cobrança permite aos credores uma oportunidade para desenvolver novas tecnologias […]

In the past 2 years it has been noted that especially the small and medium-sized enterprises have neglected their claims management framework, although they have been significantly affected by the impact of the COVID-19 pandemic and being financially sound is crucial for their smooth operation. Taking into account that if a creditor takes too long […]

Message from Holland Het aantal faillissementen is in de maand november flink gestegen. Het Centraal Bureau voor de Statistiek (CBS) meldt maandag dat vorige maand 166 faillissementen zijn uitgesproken, het grootste aantal per maand dit jaar.Het aantal faillissementen is nog wel een stuk kleiner dan voor de coronacrisis. De coronasteun van de overheid houdt bedrijven […]

Message from France What could be more annoying than a late payment? The work was done on time, the service rendered was of excellent quality, the goods delivered on time and in accordance with the order, and the customer does not meet his obligations. He confronts you with a new delay in payment. The larger […]

In Poland is a high awareness of issues connected to protecting and sharing of personal data. All offices and institutions are particularly sensitive on this kind of this issue. Many of the data, especially those relating to potential assets of a company or a natural person can be accessed only by authorized bodies. In cases […]

The cases involving less than or equal to 10,000 EURO debt are heard by the justice of the peace. Debts of EUR 10,000 or less come under the jurisdiction of the magistrate’s court of Diekirch, Esch-sur-Alzette or Luxembourg. There are two possible procedures in case of debt below 10000 EUR: conditional payment order (fast procedure) or […]

Unlike many other European countries, there is an obligation to register your place of residence in Austria (first residence as well as any other after a movement). Ignoring this duty commits an administrative offense possibly followed by a penalty. A further Austrian specialty is the existence of a central register of residency, in which all […]

Message from Norway (Norwegian and English) Seamless integration with all financial and accounting systems  You invoice yourself and information about new invoices / credit notes and payments goes back and forth seamlessly and automatically. We send a payment reminder / debt collection notice for you and follow up on debt collection those who are not […]

Starting January 2017 the European Regulation “EAPO” will be effective in all member states of the European Union (excepted England and Denmark). The EAPO facilitates cross-border debt recovery in civil and commercial matters and is a provisional measure through which the bank account of the debtor in another country than the creditor is seized.  The […]

In the past, it was sufficient that debt collection agencies and lawyers examined the legality of a claim. Now, they must provide detailed information with the first request for payment, irrelevant of whether they are pre-trial or enforceable claims. Therefore, with considerable extra effort creditors and collection companies have to list the following information: Affected by this […]

One common for everyone (companies and natural persons) legal interest rate expressed in percent and independent on other interest rates since 1st January 2016 in Poland are divided on those connected with business and not. Now for natural persons (debtors) not connected with any economic activity is one rate depends on Polish National Bank reference […]

Solvency Check: in France, there is a major change The publication of the balance sheet was mandatory, for not doing you faced criminal charges. From now on the companies with can make a demand to keep their balance sheet secret. Informations de solvabilité : En France les règles viennent de changer Alors que la publication des […]