Atradius Collections Launches International Debt Collection Handbook
. The volatility of the European and international payment landscape over the past year brings debt collections to the top of the businesses priority list.
. The diversity and complexity of country specific procedures, legislation and cultural approaches present a major challenge for companies.
(Sept 28, Amsterdam) Atradius Collections, the global expert in domestic and cross-border debt collections, releases today its comprehensive resource bank on debt collections procedures and practices around the world.
The International Debt Collections Handbook, accessible via the company website (www.atradiuscollections.com) covers all the facets of collections process from different stages of amicable settlement to legal proceedings, and all the governing country specific judicial and financial regulations.
There are endless variations between countries in payment practices and legislation relating to data protection, debtor protection and collection procedures, said Rudi de Greve, Atradius Collections Global Operations Director. In some countries it is possible to claim interest on late payments, in others it is prohibited by law. A personal visit to the debtor is a common practice in some areas, whilst it would be seen as offensive in others. In some regions, the collections focus is on negotiation out of court due to the complexity of the legal system, while elsewhere, legal action is readily available.
The International Debt Collections Handbook, released today, makes all this information available and accessible to businesses to help them select the right approach to debt collection in the countries of their operation, and as a result, improve and strengthen their cash flow, added Mr de Greve.
The Atradius International Debt Collections Handbook gives companies comprehensive account of local insolvency procedures and steps to take to recover debts from insolvent companies. With the forecast bankruptcy growth of 35% worldwide compared to the previous year, Atradius Collections is additionally offering its customers a full service insolvency product which includes a lodging and monitoring service for debts by insolvent companies with the goal to recover partial payment or dividend on behalf of the customer.