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Amsterdam, Netherlands (ots/PRNewswire) - Atradius Collections releases the 9th edition of the International Debt Collections Handbook, explaining the different stages of amicable settlement, legal proceedings and insolvency procedures around collections in 40 countries.
No business is immune to the risks associated with international trade. Wherever trade is handled on credit, which according to the Atradius Payment Practices Barometer 2015 accounts for slightly over 40% of transactions in Europe, there will always be the risk of late payment or even that of non-payment. The poor payment behaviour coupled with the diversity and complexity of country specific debt collections procedures, legislation and cultural approaches can be challenging for companies worldwide. As almost 38% of the foreign B2B sales in Europe were reported to be made on credit, and slightly more than 6% were unpaid after 90 days, it is inevitable that some collection cases will end up being processed in court or even filed via insolvency proceedings.
The handbook will prove especially useful to organisations lacking in-house resources in international collections or credit management. The advantage of having access to this in-depth information can help businesses make better decisions and take necessary measures beforehand, thereby minimizing potential future risk. For instance, when it comes to legal proceedings, there are considerable variations from one country to another. In order to commence legal action or insolvency proceedings in the United Arab Emirates, any required documents need to be translated into Arabic by a court-approved translator. Additionally, when initiating bankruptcy proceedings, the original documents are required, whereas in most countries a copy of these is sufficient.
About the International Debt Collections Handbook
Since its launch, the International Debt Collections Handbook has established itself as a key tool for businesses making decisions concerning collections in foreign countries. International debt collection and country specific legal systems create challenges that can affect every business. Rudi De Greve, Global Operations Director at Atradius Collections stated: "The handbook consists of information gathered by local experienced collectors and lawyers, making it a trusted international debt collections navigator."
About Atradius Collections
Through a presence in 25 countries, Atradius Collections provides trade invoice collection services in 96% of the countries across the world. Its wide breadth of services, ranging from first party to legal collections, helps companies around the globe recover unpaid invoices. Atradius Collections forms part of Grupo Catalana Occidente (GCO.MC), one of the leading insurers in Spain and worldwide in credit insurance.
Iris Graatsma, Email: email@example.com