This document is an international debt collection handbook that provides information on debt collection procedures for multiple countries. It includes sections on the amicable and legal collection phases, insolvency proceedings, and arbitration for each country. The table of contents lists over 20 countries and outlines the subsections covered for each, such as general collection practices, required documents, timeframes and more.

1. International Debt Collection Handbook
Eighth Edition - May 2014

2. TABLE OF CONTENTS
Copyright by Atradius Collections · 2014
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3. TABLE OF CONTENTS
1 Introduction
1.1 About Atradius Collections . 17
2 Australia
2.1 Amicable Phase . .18
2.1.1 General . .18
2.1.2 Local Agent . .18
2.1.3 Interests . 18
2.1.4 Debt Collection Costs . 18
2.1.5 Prescription . .19
2.1.6 Accepted and Most Common
Payment Methods . .19
2.1.7 Types of Companies . 19
2.1.8 Sources of Information . 20
2.2 Retention of Title . 20
2.3 Safeguarding Measures . 20
2.4 Legal Procedures . .20
2.4.1 Legal System . .20
2.4.2 Required Documents . .22
2.4.3 Legal Dunning Procedure . 22
2.4.4 Lawsuit . .22
2.4.5 Appeal . .22
2.4.6 Costs . .22
2.4.7 Expected Timeframe . 23
2.4.8 Interests and Costs in the Legal Phase . 23
2.5 Enforcement . 23
2.5.1 Enforcement in Debt . .23
2.5.2 Enforcement in Movable Goods . 24
2.5.3 Enforcement in Immovable Goods . .24
2.5.4 Expected Timeframe . 24
2.6 Insolvency Proceedings . 24
2.6.1 General . .24
2.6.2 Proceedings . 24
2.6.3 Required Documents . .24
2.6.4 Expected Timeframe and outcome . 25
2.6.5 Limited Companies . 25
2.6.6 Unlimited Companies/Individuals . .25
2.6.7 Rescission . .25
2.7 Arbitration and Mediation . .25
3 Austria
3.1 Amicable Phase . .26
3.1.1 General . .26
3.1.2 Local Agent . .26
3.1.3 Interests . 26
3.1.4 Debt Collection Costs . 26
3.2 Legal Procedures . .27
3.2.1 General . .27
3.2.2 Required Documents . .27
3.2.3 Legal Dunning Procedure . 27
3.2.4 Lawsuit . .27
3.2.5 Costs . .27
3.2.6 Expected Timeframe . 27
3.2.7 Interests and Costs in the Legal Phase . 27
3.3 Insolvency Proceedings . 28
3.3.1 General . .28
3.3.2 Proceedings . 28
3.3.3 Required Documents . .28
3.3.4 Expected Timeframe and outcome . 28
4 Belgium
4.1 Amicable Phase . .30
4.1.1 General . .30
4.1.2 Local Agent . .30
4.1.3 Interests . 30
4.1.4 Debt Collection Costs . 30
4.1.5 Prescription . .31
4.1.6 Accepted and Most Common
Payment Methods . .31
4.1.7 Types of Companies . 31
4.1.8 Sources of Information . 31
4.2 Retention of Title . 32
4.3 Safeguarding Measures . 32
4.4 Legal Procedures . .32
4.4.1 General . .32
4.4.2 Legal System . .33
4.4.3 Required Documents . .33
4.4.4 Legal Dunning Procedure . 33
4.4.5 Lawsuit . .34
4.4.6 Appeal . .34
4.4.7 Costs . .35
4.4.8 Expected Timeframe . 35
4.4.9 Interests and Costs in the Legal Phase . 35
4.5 Enforcement . 35
4.5.1 Enforcement in Debt . .35
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4.5.2 Enforcement in Movable Goods . 36
4.5.3 Enforcement in Immovable Goods . .36
4.5.4 Expected Timeframe . 36
4.6 Insolvency Proceedings . 36
4.6.1 General . .36
4.6.2 Proceedings . 36
4.6.3 Required Documents . .37
4.6.4 Expected Timeframe and outcome . 37
4.6.5 Rescission in Case of Bankruptcy . 37
4.7 Arbitration and Mediation . .38
4.7.1 Mediation . .38
4.7.2 Arbitration . .38
5 Brazil
5.1 Amicable Phase . .40
5.1.1 General . .40
5.1.2 Local Agent . .40
5.1.3 Interests . 40
5.1.4 Debt Collection Costs . 40
5.2 Legal Procedures . .41
5.2.1 General . .41
5.2.2 Required Documents . .41
5.2.3 Legal Dunning Procedure (“Protesto”) . 41
5.2.4 Lawsuit . .41
5.2.5 Costs . .41
5.2.6 Expected Timeframe . 41
5.2.7 Interests and Costs in the Legal Phase . 41
5.3 Insolvency Proceedings . 42
5.3.1 General . .42
5.3.2 Proceedings . 42
5.3.3 Required Documents . .42
5.3.4 Expected Timeframe and Outcome . . . . . . . . . . . 42
6 Bulgaria
6.1 Amicable Phase . .44
6.1.1 General . .44
6.1.2 Local Agent . .44
6.1.3 Interests . 44
6.1.4 Debt Collection Costs . 44
6.2 Legal Procedures . .45
6.2.1 General . .45
6.2.2 Required Documents . .45
6.2.3 Legal Dunning Procedure . 45
6.2.4 Lawsuit . .45
6.2.5 Costs . .45
6.2.6 Expected Timeframe . 45
6.2.7 Interests and Costs in the Legal Phase . 45
6.3 Insolvency Proceedings . 46
6.3.1 General . .46
6.3.2 Proceedings . 46
6.3.3 Required Documents . .46
6.3.4 Expected Timeframe and Outcome . . . . . . . . . . . 46
7 Canada
7.1 Amicable Phase . .48
7.1.1 General . .48
7.1.2 Local Agent . .48
7.1.3 Interests . 48
7.1.4 Debt Collection Costs . 48
7.1.5 Prescription . .48
7.2 Legal Procedures . .49
7.2.1 General . .49
7.2.2 Required Documents . .49
7.2.3 Legal Dunning Procedure . 49
7.2.4 Lawsuit . .49
7.2.5 Costs . .49
7.2.6 Expected Timeframe . 49
7.2.7 Interests and Costs in the Legal Phase . 49
7.3 Insolvency Proceedings . 50
7.3.1 General . .50
7.3.2 Proceedings . 50
7.3.3 Required Documents . .50
7.3.4 Expected Timeframe and Outcome . . . . . . . . . . . 50
8 Chile
8.1 Amicable Phase . .52
8.1.1 General . .52
8.1.2 Local Agent . .52
8.1.3 Interests . 52
8.1.4 Debt Collection Costs . 52
8.2 Legal Procedures . .53
8.2.1 General . .53
8.2.2 Required Documents . .53
8.2.3 Legal Dunning Procedure . 53
8.2.4 Lawsuit . .53
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8.2.5 Costs . .53
8.2.6 Expected Timeframe . 53
8.2.7 Interests and Costs in the Legal Phase . 53
8.3 Insolvency Proceedings . 54
8.3.1 General . .54
8.3.2 Proceedings . 54
8.3.3 Required Documents . .54
8.3.4 Expected Timeframe and Outcome . . . . . . . . . . . 54
9 China
9.1 Amicable Phase . .56
9.1.1 General . .56
9.1.2 Local Agent . .56
9.1.3 Interests . 56
9.1.4 Debt Collection Costs . 56
9.1.5 Prescription . .57
9.1.6 Accepted and Most Common
Payment Methods . .57
9.1.7 Types of Companies . 57
9.1.8 Sources of Information . 58
9.2 Retention of Title . 58
9.3 Safeguarding Measures . 58
9.4 Legal Procedures . .58
9.4.1 General . .58
9.4.2 Legal System . .59
9.4.3 Required Documents . .59
9.4.4 Legal Dunning Procedure . 59
9.4.5 Lawsuit . .60
9.4.6 Appeal . .60
9.4.7 Costs . .60
9.4.8 Expected Timeframe . 60
9.4.9 Interests and Costs in the Legal Phase . 60
9.5 Enforcement . 60
9.5.1 Enforcement in Debt . .60
9.5.2 Enforcement in Movable Goods . 60
9.5.3 Enforcement in Immovable Goods . .60
9.5.4 Expected Timeframe . 60
9.6 Insolvency Proceedings . 61
9.6.1 General Facts . 61
9.6.2 Proceedings . 61
9.6.3 Required Documents . .61
9.6.4 Expected Timeframe and Outcome . . . . . . . . . . . 61
9.6.5 Limited Companies . 62
9.6.6 Non-Limited Companies/Individuals . .62
9.6.7 Pool of Creditors . .62
9.6.8 Rescission . .62
9.7 Arbitration and Mediation . .62
10 Czech Republic
10.1 Amicable Phase . .64
10.1.1 General . .64
10.1.2 Local Agent . .64
10.1.3 Interests . 64
10.1.4 Debt Collection Costs . 65
10.1.5 Prescription . .65
10.1.6 Types of Companies . 65
10.1.7 Sources of Information . 65
10.2 Retention of Title . 65
10.3 Safeguarding Measures . 65
10.4 Legal Procedures . .66
10.4.1 General . .66
10.4.2 Legal System . .66
10.4.3 Required Documents . .66
10.4.4 Legal Dunning Procedure . 66
10.4.5 Lawsuit . .66
10.4.6 Appeal . .66
10.4.7 Costs . .66
10.4.8 Expected Timeframe . 66
10.4.9 Interests and Costs in the Legal Phase . 66
10.5 Enforcement . 67
10.5.1 Enforcement in Debt . .67
10.5.2 Enforcement in Movable Goods . 67
10.5.3 Enforcement in Immovable Goods . .67
10.5.4 Expected Timeframe . 67
10.6 Insolvency Proceedings . 67
10.6.1 General . .67
10.6.2 Proceedings . 67
10.6.3 Required Documents . .68
10.6.4 Expected Timeframe and Outcome . . . . . . . . . . . 68
10.6.5 Limited Companies . 68
10.6.6 Non-Limited Companies/Individuals . .68
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10.6.7 Pool of Creditors . .68
10.6.8 Rescission . .68
10.7 Arbitration and Mediation . .68
11 Denmark
11.1 Amicable Phase . .70
11.1.1 General . .70
11.1.2 Local Agent . .70
11.1.3 Interests . 70
11.1.4 Debt Collection Costs . 71
11.1.5 Prescription . .71
11.1.6 Accepted and Most Common
Payment Methods . .71
11.1.7 Types of Companies . 71
11.1.8 Sources of Information . 72
11.2 Retention of Title . 72
11.3 Achnowledgement of the Debt . .72
11.4 Legal Procedures . .72
11.4.1 General . .72
11.4.2 Legal System . .72
11.4.3 Required Documents . .73
11.4.4 Lawsuit . .73
11.4.5 Appeal . .73
11.4.6 Costs . .73
11.4.7 Expected Timeframe . 73
11.5 Enforcement . 73
11.5.1 Enforcement in Debt . .73
11.5.2 Expected Timeframe . 73
11.6 Insolvency Proceedings . 74
11.6.1 General . .74
11.6.2 Proceedings . 74
11.6.3 Required Documents . .74
11.6.4 Expected Timeframe and Outcome . . . . . . . . . . . 74
11.7 Arbitration and Mediation . .74
12 Finland
12.1 Amicable Phase . .76
12.1.1 General . .76
12.1.2 Local Agent . .76
12.1.3 Interests . 76
12.1.4 Debt Collection Costs . 76
12.2 Legal Procedures . .77
12.2.1 General . .77
12.2.2 Required Documents . .77
12.2.3 Legal Dunning Procedure (“Protesto”) . 77
12.2.4 Lawsuit . .77
12.2.5 Costs . .77
12.2.6 Expected Timeframe . 77
12.3 Insolvency Proceedings . 78
12.3.1 General . .78
12.3.2 Proceedings . 78
12.3.3 Required Documents . .78
12.3.4 Expected Timeframe and outcome . 78
13 France
13.1 Amicable Phase . .80
13.1.1 General . .80
13.1.2 Local Agent . .80
13.1.3 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80
13.1.4 Debt Collection Costs . 80
13.1.5 Prescription . .81
13.1.6 Accepted and Most Common
Payment Methods . .81
13.1.7 Types of Companies . 81
13.1.8 Sources of Information . 81
13.2 Retention of Title . 81
13.3 Safeguarding Measures . 81
13.4 Legal Procedures . .82
13.4.1 General . .82
13.4.2 Legal System . .82
13.4.3 Required Documents . .82
13.4.4 Legal Dunning Procedure . 82
13.4.5 Lawsuit . .82
13.4.6 Appeal . .82
13.4.7 Costs . .82
13.4.8 Expected Timeframe . 82
13.4.9 Interests and Costs in the Legal Phase . 83
13.5 Enforcement . 83
13.5.1 Enforcement in Debt . .83
13.5.2 Enforcement in Movable Goods . 83
13.5.3 Enforcement in Immovable Goods . .83
13.5.4 Expected Timeframe . 83
13.6 Insolvency Proceedings . 83
13.6.1 General Facts . 83
13.6.2 Proceedings . 83
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13.6.3 Required Documents . .83
13.6.4 Expected Timeframe and Outcome . . . . . . . . . . . 83
13.6.5 Limited Companies . 84
13.6.6 Non-Limited Companies/Individuals . .84
13.6.7 Pool of Creditors . .84
13.6.8 Rescission . .84
13.7 Arbitration and Mediation . .84
14 Germany
14.1 Amicable Phase . .86
14.1.1 General . .86
14.1.2 Local Agent . .86
14.1.3 Interests . 86
14.1.4 Debt Collection Costs . 86
14.1.5 Prescription . .87
14.1.6 Accepted and Most Common
Payment Methods . .87
14.1.7 Types of Companies . 87
14.1.8 Sources of Information . 88
14.2 Retention of Title . 88
14.3 Safeguarding Measures . 88
14.4 Legal Procedures . .88
14.4.1 General . .88
14.4.2 Legal System . .88
14.4.3 Required Documents . .89
14.4.4 Legal Dunning Procedure . 89
14.4.5 Lawsuit . .89
14.4.6 Appeal . .89
14.4.7 Costs . .89
14.4.8 Expected Timeframe . 89
14.4.9 Interests and Costs in the Legal Phase . 89
14.5 Enforcement . 90
14.5.1 Enforcement in Debt . .90
14.5.2 Enforcement in Movable Goods . 90
14.5.3 Enforcement in Immovable Goods . .90
14.5.4 Expected Timeframe . 90
14.6 Insolvency Proceedings . 90
14.6.1 General Facts . 90
14.6.2 Proceedings . 90
14.6.3 Required Documents . .91
14.6.4 Expected Timeframe and Outcome . . . . . . . . . . . 91
14.6.5 Limited Companies . 91
14.6.6 Non-Limited Companies/Individuals . .91
14.6.7 Pool of Creditors . .91
14.6.8 Rescission . .91
14.7 Arbitration and Mediation . .91
15 Greece
15.1 Amicable Phase . .92
15.1.1 General . .92
15.1.2 Local Agent . .92
15.1.3 Interests . 92
15.1.4 Debt Collection Costs . 92
15.2 Legal Procedures . .93
15.2.1 General . .93
15.2.2 Required Documents . .93
15.2.3 Payment Order . 93
15.2.4 Lawsuit . .93
15.2.5 Costs . .93
15.2.6 Expected Timeframe . 93
15.2.7 Interests and Costs in the Legal Phase . 93
15.3 Insolvency Proceedings . 94
15.3.1 General . .94
15.3.2 Proceedings . 94
15.3.3 Required Documents . .94
15.3.4 Expected Timeframe and Outcome . . . . . . . . . . . 94
16 Hong Kong
16.1 Amicable Phase . .96
16.1.1 General . .96
16.1.2 Local Agent . .96
16.1.3 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96
16.1.4 Debt Collection Costs . 96
16.1.5 Prescription . .96
16.1.6 Accepted and Most Common
Payment Methods . .96
16.1.7 Types of Companies . 97
16.1.8 Sources of Information . 97
16.2 Retention of Title . 97
16.3 Legal Procedures . .97
16.3.1 General . .97
16.3.2 Legal System . .97
16.3.3 Required Documents . .98
16.3.4 Interests and Costs in the Legal Phase . 98
16.4 Enforcement . 98
16.4.1 Enforcement in Debt . .98
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16.4.2 Expected Timeframe . 98
16.5 Insolvency Proceedings . 98
16.5.1 General . .98
16.6 Arbitration and Mediation . .98
17 Hungary
17.1 Amicable Phase . .100
17.1.1 General . .100
17.1.2 Interests . 100
17.1.3 Debt Collection Costs . 100
17.1.4 Prescription . .101
17.1.5 Accepted and Most Common
Payment Methods . .101
17.1.6 Types of Companies . 101
17.1.7 Sources of Information . 102
17.2 Retention of Title . 102
17.3 Safeguarding Measures . 102
17.4 Legal Procedures . .102
17.4.1 General . .102
17.4.2 Legal System . .102
17.4.3 Required Documents . .102
17.4.4 Payment Order Procedure . .102
17.4.5 Lawsuit . .103
17.4.6 Appeal . .103
17.4.7 Costs . .103
17.4.8 Expected Timeframe . 103
17.4.9 Interests and Costs in the Legal Phase . 103
17.5 Enforcement . 103
17.5.1 Enforcement in Debt . .103
17.5.2 Enforcement in Movable Goods . 103
17.5.3 Enforcement in Immovable Goods . .103
17.5.4 Expected Timeframe . 103
17.6 Insolvency Proceedings . 103
17.6.1 General . .103
17.6.2 Proceedings . 104
17.6.3 Required Documents . .104
17.6.4 Expected Timeframe and Outcome . . . . . . . . . . 104
17.6.5 Limited Companies . 104
17.6.6 Non-Limited Companies/Individuals . .105
17.6.7 Pool of Creditors . .105
17.6.8 Rescission . .105
17.7 Arbitration and Mediation . .105
18 India
18.1 Amicable Phase . .106
18.1.1 General . .106
18.1.2 Local Agent . .106
18.1.3 Interests . 106
18.1.4 Debt Collection Costs . 106
18.1.5 Prescription . .106
18.1.6 Accepted and Most Common
Payment Methods . .106
18.1.7 Types of Entities . 107
18.1.8 Sources of Information . 107
18.2 Retention of Title . 107
18.3 Safeguarding Measures . 107
18.4 Legal Procedures . .107
18.4.1 General . .107
18.4.2 Legal System . .107
18.4.3 Required Documents . .107
18.4.4 Legal Dunning Procedure . 108
18.4.5 Lawsuit . .108
18.4.6 Appeal . .108
18.4.7 Costs . .108
18.4.8 Expected Timeframe . 108
18.4.9 Interests and Costs in the Legal Phase . 108
18.5 Enforcement . 109
18.6 Insolvency Proceedings . 109
18.6.1 General . .109
18.6.2 Proceedings . 109
18.6.3 Required Documents . .109
18.6.4 Expected Timeframe and Outcome . . . . . . . . . . 109
18.6.5 Limited Companies . 109
18.6.6 Unlimited Companies/Individuals . .109
18.7 Arbitration and Mediation . .109
19 Ireland
19.1 Amicable Phase . .110
19.1.1 General . .110
19.1.2 Local Agent . .110
19.1.3 Interests . 111
19.1.4 Debt Collection Costs . 111
19.1.5 Prescription . .111
19.1.6 Accepted and Most Common
Payment Methods . .111
19.1.7 Types of Companies . 112
19.1.8 Sources of Information . 112
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19.2 Retention of Title . 112
19.3 Safeguarding Measures . 112
19.4 Legal Procedures . .112
19.4.1 General . .112
19.4.2 Legal System . .113
19.4.3 Required Documents . .113
19.4.4 Costs . .113
19.4.5 Expected Timeframe . 113
19.4.6 Interests and Costs in the Legal Phase . 113
19.5 Enforcement . 113
19.5.1 Enforcement in Debt . .113
19.5.2 Enforcement in Movable Goods . 113
19.5.3 Enforcement in Immovable Goods . .114
19.6 Insolvency Proceedings . 114
19.6.1 General . .114
19.6.2 Required Documents . .114
19.6.3 Expected Timeframe and Outcome . . . . . . . . . . 114
20 Italy
20.1 Amicable Phase . .116
20.1.1 General . .116
20.1.2 Local Agent . .116
20.1.3 Interests . 116
20.1.4 Debt Collection Costs . 116
20.1.5 Prescription . .117
20.1.6 Accepted and Most Common
Payment Methods . .117
20.1.7 Types of Companies . 117
20.1.8 Sources of Information . 118
20.2 Safeguarding Measures . 118
20.3 Legal Procedures . .118
20.3.1 General . .118
20.3.2 Legal System . .118
20.3.3 Required Documents . .118
20.3.4 Lawsuit . .119
20.3.5 Appeal . .119
20.3.6 Costs . .119
20.3.7 Expected Timeframe . 119
20.3.8 Interests and Costs in the Legal Phase . 119
20.4 Enforcement . 120
20.4.1 Enforcement in Debt . .120
20.4.2 Enforcement in Movable Goods . 120
20.4.3 Enforcement in Immovable Goods . .120
20.4.4 Expected Timeframe . 120
20.5 Insolvency Proceedings . 120
20.5.1 General . .120
20.5.2 Proceedings . 120
20.5.3 Required Documents . .120
20.5.4 Expected Timeframe and Outcome . . . . . . . . . . 121
20.5.5 Limited Companies . 121
20.5.6 Non-Limited Companies/Individuals . .121
20.5.7 Pool of Creditors . .121
20.5.8 Rescission . .121
20.6 Arbitration and Mediation . .121
21 Luxembourg
21.1 Amicable Phase . .122
21.1.1 General . .122
21.1.2 Local Agent . .122
21.1.3 Interests . 122
21.1.4 Debt Collection Costs . 122
21.2 Legal Procedures . .123
21.2.1 General . .123
21.2.2 Required Documents . .123
21.2.3 Legal Dunning Procedure . 123
21.2.4 Lawsuit . .123
21.2.5 Costs . .123
21.2.6 Expected Timeframe . 123
21.2.7 Interests and Costs in the Legal Phase . 123
21.3 Insolvency Proceedings . 124
21.3.1 General . .124
21.3.2 Proceedings . 124
21.3.3 Required Documents . .124
21.3.4 Expected Timeframe and Outcome . . . . . . . . . . 124
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10. TABLE OF CONTENTS
22 Mexico
22.1 Amicable Phase . .126
22.1.1 General . .126
22.1.2 Local Agent . .126
22.1.3 Interests . 126
22.1.4 Debt Collection Costs . 126
22.1.5 Prescription . .126
22.1.6 Accepted and Most Common
Payment Methods . .127
22.1.7 Types of Companies . 127
22.1.8 Sources of Information . 128
22.2 Retention of Title . 128
22.3 Safeguarding Measures . 128
22.4 Legal Procedures . .128
22.4.1 General . .128
22.4.2 Legal System . .128
22.4.3 Required Documents . .129
22.4.4 Legal Dunning Procedure . 129
22.4.5 Lawsuit . .129
22.4.6 Appeal . .129
22.4.7 Costs . .129
22.4.8 Expected Timeframe . 129
22.4.9 Interests and Costs in the Legal Phase . 129
22.5 Enforcement . 130
22.5.1 Enforcement in Debt . .130
22.5.2 Enforcement in Movable Goods . 130
22.5.3 Enforcement in Immovable Goods . .130
22.5.4 Expected Timeframe . 130
22.6 Insolvency Proceedings . 130
22.6.1 General . .130
22.6.2 Proceedings . 130
22.6.3 Required Documents . .131
22.6.4 Expected Timeframe and Outcome . . . . . . . . . . 131
22.6.5 Limited Companies . 131
22.7 Arbitration and Mediation . .131
23 Netherlands
23.1 Amicable Phase . .132
23.1.1 General . .132
23.1.2 Local Agent . .132
23.1.3 Interests . 132
23.1.4 Debt Collection Costs . 133
23.1.5 Prescription . .133
23.1.6 Accepted and Most Common
Payment Methods . .133
23.1.7 Types of Companies . 133
23.1.8 Sources of Information . 133
23.2 Retention of Title . 134
23.3 Safeguarding Measures . 134
23.4 Legal Procedures . .134
23.4.1 General . .134
23.4.2 Legal System . .134
23.4.3 Required Documents . .135
23.4.4 Legal Dunning Procedure . 135
23.4.5 Lawsuit . .135
23.4.6 Appeal . .135
23.4.7 Costs . .136
23.4.8 Expected Timeframe . 136
23.4.9 Interests and Costs in the Legal Phase . 136
23.5 Enforcement . 136
23.5.1 Enforcement in Debt . .136
23.5.2 Enforcement in Movable Goods . 136
23.5.3 Enforcement in Immovable Goods . .136
23.5.4 Expected Timeframe . 136
23.6 Insolvency Proceedings . 137
23.6.1 General . .137
23.6.2 Proceedings . 137
23.6.3 Required Documents . .138
23.6.4 Expected Timeframe and Outcome . . . . . . . . . . 138
23.6.5 Limited Companies . 138
23.6.6 Non-Limited Companies/Individuals . .138
23.6.7 Pool of Creditors . .138
23.6.8 Rescission . .138
23.7 Arbitration and Mediation . .138
24 Norway
24.1 Amicable Phase . .140
24.1.1 General . .140
24.1.2 Local Agent . .140
24.1.3 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140
24.1.4 Debt Collection Costs . 140
24.2 Legal Procedures . .141
24.2.1 General . .141
24.2.2 Required Documents . .141
24.2.3 Lawsuit . .141
24.2.4 Costs . .141
24.2.5 Expected Timeframe . 141
24.2.6 Interests and Costs in the Legal Phase . 141
10 ATRADIUS COLLECTIONS - INTERNATIONAL DEBT COLLECTION HANDBOOK · MAY 2014

11. TABLE OF CONTENTS
24.3 Insolvency Proceedings . 142
24.3.1 General . .142
24.3.2 Proceedings . 142
24.3.3 Required Documents . .142
24.3.4 Expected Timeframe and Outcome . . . . . . . . . . 142
25 Poland
25.1 Amicable Phase . .144
25.1.1 General . .144
25.1.2 Local Agent . .144
25.1.3 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144
25.1.4 Debt Collection Costs . 144
25.1.5 Prescription . .144
25.1.6 Accepted and Most Common
Payment Methods . .145
25.1.7 Types of Companies . 145
25.1.8 Sources of Information . 146
25.2 Retention of Title . 146
25.3 Safeguarding Measures . 146
25.4 Legal Procedures . .146
25.4.1 General . .146
25.4.2 Legal System . .146
25.4.3 Required Documents . .147
25.4.4 Legal Dunning Procedure . 147
25.4.5 Lawsuit . .147
25.4.6 Appeal . .147
25.4.7 Costs . .147
25.4.8 Expected Timeframe . 148
25.4.9 Interests and Costs in the Legal Phase . 148
25.5 Enforcement . 148
25.5.1 Enforcement in Debt . .148
25.5.2 Enforcement in Movable Goods . 148
25.5.3 Enforcement in Immovable Goods . .148
25.5.4 Expected Timeframe . 148
25.6 Insolvency Proceedings . 148
25.6.1 General . .148
25.6.2 Proceedings . 148
25.6.3 Required Documents . .149
25.6.4 Expected Timeframe and Outcome . . . . . . . . . . 149
25.6.5 Limited Companies . 149
25.6.6 Non-Limited Companies/Individuals . .149
25.6.7 Pool of Creditors . .149
25.6.8 Rescission . .149
25.7 Arbitration and Mediation . .149
26 Portugal
26.1 Amicable Phase . .150
26.1.1 General . .150
26.1.2 Local Agent . .150
26.1.3 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150
26.1.4 Debt Collection Costs . 150
26.1.5 Prescription . .151
26.1.6 Accepted and most Common
Payment Methods . .151
26.1.7 Types of Companies . 151
26.1.8 Sources of Information . 151
26.2 Retention of Title . 151
26.3 Safeguarding Measures . 151
26.4 Legal Procedures . .152
26.4.1 General . .152
26.4.2 Required Documents . .152
26.4.3 Lawsuit . .152
26.4.4 Appeal . .152
26.4.5 Costs . .152
26.4.6 Expected Timeframe . 152
26.4.7 Interests and Costs in the Legal Phase . 152
26.5 Insolvency Proceedings . 153
26.5.1 General . .153
26.5.2 Proceedings . 153
26.5.3 Required Documents . .153
26.5.4 Expected Timeframe and Outcome . . . . . . . . . . 153
27 Romania
27.1 Amicable Phase . .154
27.1.1 Local Agent . .154
27.1.2 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154
27.1.3 Debt Collection Costs . 154
27.2 Legal Procedures . .154
27.2.1 General . .154
27.2.2 Required Documents . .155
27.2.3 Legal Dunning Procedure . 155
27.2.4 Lawsuit . .155
27.2.5 Appeal . .155
27.2.6 Costs . .155
27.2.7 Expected Timeframe . 155
ATRADIUS COLLECTIONS - INTERNATIONAL DEBT COLLECTION HANDBOOK · MAY 2014 11

12. TABLE OF CONTENTS
27.2.8 Interests and Costs in the Legal Phase . 155
27.3 Enforcement . 155
27.3.1 Enforcement in Movable Goods . 155
27.3.2 Enforcement in Immovable Goods . .155
27.3.3 Expected Timeframe . 155
27.4 Insolvency Proceedings . 156
27.4.1 General Facts . 156
27.4.2 Proceedings . 156
27.4.3 Required Documents . .156
27.4.4 Expected Timeframe and Outcome . . . . . . . . . . 156
27.4.5 Limited Companies . 156
27.4.6 Rescission . .156
27.5 Arbitration and Mediation . .156
28 Russia
28.1 Amicable Phase . .158
28.1.1 General . .158
28.1.2 Local Agent . .158
28.1.3 Interests . 158
28.1.4 Debt Collection Costs . 158
28.1.5 Prescription . .159
28.1.6 Accepted and Most Common
Payment Methods . .159
28.1.7 Types of Companies . 159
28.1.8 Sources of Information . 159
28.2 Legal Procedures . .160
28.2.1 General . .160
28.2.2 Legal System . .160
28.2.3 Required Documents . .160
28.2.4 Legal Dunning Procedure . 160
28.2.5 Lawsuit . .160
28.2.6 Appeal . .160
28.2.7 Costs . .161
28.2.8 Expected Timeframe . 161
28.2.9 Interests and Costs in the Legal Phase . 161
28.3 Insolvency Proceedings . 161
28.3.1 General . .161
28.3.2 Proceedings . 161
28.3.3 Required Documents . .161
28.3.4 Expected Timeframe and Outcome . . . . . . . . . . 162
28.3.5 Limited Companies . 162
28.3.6 Unlimited Companies/Individuals . .162
28.3.7 Pool of Creditors . .162
28.3.8 Rescission . .162
29 Singapore
29.1 Amicable Phase . .164
29.1.1 General . .164
29.1.2 Local Agent . .164
29.1.3 Interests . 164
29.1.4 Debt Collection Costs . 164
29.2 Legal Procedures . .165
29.2.1 General . .165
29.2.2 Required Documents . .165
29.2.3 Legal Dunning Procedure . 165
29.2.4 Lawsuit . .165
29.2.5 Costs . .165
29.2.6 Expected Timeframe . 165
29.2.7 Interests and Costs in the Legal Phase . 165
29.3 Insolvency Proceedings . 166
29.3.1 General . .166
29.3.2 Proceedings . 166
29.3.3 Expected Timeframe and Outcome . . . . . . . . . . 166
30 Slovak Republic
30.1 Amicable Phase . .168
30.1.1 General . .168
30.1.2 Local Agent . .168
30.1.3 Interests . 168
30.1.4 Debt Collection Costs . 168
30.2 Legal Procedures . .169
30.2.1 General . .169
30.2.2 Required Documents . .169
30.2.3 Legal Dunning Procedure . 169
30.2.4 Lawsuit . .169
30.2.5 Costs . .169
30.2.6 Expected Timeframe . 169
30.2.7 Interests and Costs in the Legal Phase . 169
30.3 Insolvency Proceedings . 170
30.3.1 General . .170
30.3.2 Proceedings . 170
30.3.3 Required Documents . .170
30.3.4 Expected Timeframe and Outcome . . . . . . . . . . 170
12 ATRADIUS COLLECTIONS - INTERNATIONAL DEBT COLLECTION HANDBOOK · MAY 2014

13. TABLE OF CONTENTS
31 South Africa
31.1 Amicable Phase . .172
31.1.1 General . .172
31.1.2 Local Agent . .172
31.1.3 Interests . 172
31.1.4 Debt Collection Costs . 172
31.2 Legal Procedures . .173
31.2.1 General . .173
31.2.2 Required Documents . .173
31.2.3 Legal Dunning Procedure . 173
31.2.4 Lawsuit . .173
31.2.5 Costs . .173
31.2.6 Expected Timeframe . 173
31.2.7 Interests and Costs in the Legal Phase . 173
31.3 Insolvency Proceedings . 174
31.3.1 General . .174
31.3.2 Proceedings . 174
31.3.3 Required Documents . .174
31.3.4 Expected Timeframe and Outcome . . . . . . . . . . 174
32 Spain
32.1 Amicable Phase . .176
32.1.1 General . .176
32.1.2 Local Agent . .176
32.1.3 Interests . 176
32.1.4 Debt Collection Costs . 177
32.1.5 Prescription . .177
32.1.6 Accepted and Most Common
Payment Methods . .177
32.1.7 Types of Companies . 177
32.1.8 Sources of Information . 177
32.2 Retention of Title . 178
32.3 Safeguarding Measures . 178
32.4 Legal Procedures . .178
32.4.1 General . .178
32.4.2 Legal System . .178
32.4.3 Required Documents . .178
32.4.4 Legal Dunning Procedure . 178
32.4.5 Lawsuit . .178
32.4.6 Appeal . .178
32.4.7 Costs . .179
32.4.8 Legal Taxes . 179
32.4.9 Expected Timeframe . 179
32.4.10 Interests and Costs in the Legal Phase . 179
32.5 Enforcement . 179
32.5.1 Enforcement in Debt . .179
32.5.2 Provisional Enforcement . 179
32.5.3 Enforcement of A Definitive Judgment . .180
32.5.4 Expected Timeframe . 180
32.6 Insolvency Proceedings . 180
32.6.1 General . .180
32.6.2 Proceedings . 180
32.6.3 Required Documents . .181
32.6.4 Expected Timeframe and Outcome . . . . . . . . . . 181
32.7 Arbitration and Mediation . .181
33 Sweden
33.1 Amicable Phase . .182
33.1.1 General . .182
33.1.2 Local Agent . .182
33.1.3 Interests . 182
33.1.4 Debt Collection Costs . 182
33.2 Legal Procedures . .183
33.2.1 General . .183
33.2.2 Required Documents . .183
33.2.3 Lawsuit . .183
33.2.4 Costs . .183
33.2.5 Expected Timeframe . 183
33.2.6 Interests and Costs in the Legal Phase . 183
33.3 Insolvency Proceedings . 184
33.3.1 General . .184
33.3.2 Proceedings . 184
33.3.3 Required Documents . .184
33.3.4 Expected Timeframe and Outcome . . . . . . . . . . 184
ATRADIUS COLLECTIONS - INTERNATIONAL DEBT COLLECTION HANDBOOK · MAY 2014 13

14. TABLE OF CONTENTS
34 Switzerland
34.1 Amicable Phase . .186
34.1.1 General . .186
34.1.2 Local Agent . .186
34.1.3 Interests . 186
34.1.4 Debt Collection Costs . 186
34.2 Legal Procedures . .187
34.2.1 General . .187
34.2.2 Required Documents . .187
34.2.3 Legal Dunning Procedure . 187
34.2.4 Lawsuit . .187
34.2.5 Costs . .187
34.2.6 Expected Timeframe . 187
34.2.7 Interests and Costs in the Legal Phase . 187
34.3 Insolvency Proceedings . 188
34.3.1 General . .188
34.3.2 Proceedings . 188
34.3.3 Required Documents . .188
34.3.4 Expected Timeframe and Outcome . . . . . . . . . . 188
35 Tunisia
35.1 Amicable Phase . .190
35.1.1 General . .190
35.1.2 Local Agent . .190
35.1.3 Interests . 190
35.2 Legal Procedures . .191
35.2.1 General . .191
35.2.2 Required Documents . .191
35.2.3 Legal Dunning Procedure . 191
35.2.4 Lawsuit . .191
35.2.5 Costs . .191
35.2.6 Expected Timeframe . 191
35.2.7 Interests and Costs In the Legal Phase . 191
35.3 Insolvency Proceedings . 192
35.3.1 General . .192
35.3.2 Proceedings . 192
35.3.3 Required Documents . .192
35.3.4 Expected Timeframe and Outcome . . . . . . . . . . 192
36 Turkey
36.1 Amicable Phase . .194
36.1.1 General . .194
36.1.2 Local Agent . .194
36.1.3 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 194
36.1.4 Debt Collection Costs . 194
36.2 Legal Procedures . .195
36.2.1 General . .195
36.2.2 Required Documents . .195
36.2.3 Legal Dunning Procedure . 195
36.2.4 Lawsuit . .195
36.2.5 Costs . .195
36.2.6 Expected Timeframe . 195
36.2.7 Interests and Costs In the Legal Phase . 195
36.3 Insolvency Proceedings . 196
36.3.1 General . .196
36.3.2 Proceedings . 196
36.3.3 Required Documents . .196
36.3.4 Expected Timeframe and Outcome . . . . . . . . . . 196
37 Ukraine
37.1 Amicable Phase . .198
37.1.1 General . .198
37.1.2 Local Agent . .198
37.1.3 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 198
37.1.4 Debt Collection Costs . 198
37.2 Legal Procedures . .199
37.2.1 General . .199
37.2.2 Required Documents . .199
37.2.3 Legal Dunning Procedure . 199
37.2.4 Lawsuit . .199
37.2.5 Costs . .199
37.2.6 Expected Timeframe . 199
37.2.7 Interests and Costs In the Legal Phase . 199
37.3 Insolvency Proceedings . 200
37.3.1 General . .200
37.3.2 Proceedings . 200
37.3.3 Required Documents . .200
37.3.4 Expected Timeframe and Outcome . . . . . . . . . . 200
38 Uk
38.1 United Kingdom . 202
38.1.1 Amicable Phase . .202 38.1.1.1 General . .202
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15. TABLE OF CONTENTS
38.1.1.2 Local Agent . .202
38.1.1.3 Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202
38.1.1.4 Debt Collection Costs . 203
38.1.1.5 Prescription . .203
38.1.1.6 Accepted and Most Common
Payment Methods . .203
38.1.1.7 Types of Companies . 203
38.1.1.8 Sources of Information . 203
38.1.2 Retention of Title . 204
38.1.3 Safeguarding Measures . 204
38.1.4 Legal Procedures . .204
38.1.4.1 General . .204
38.1.4.2 Legal System . .204
38.1.4.3 Costs . .205
38.1.4.4 Expected Timeframe . 205
38.1.4.5 Interests and Costs in the Legal Phase . 205
38.1.5 Enforcement . 205
38.1.5.1 Enforcement in Debt . .205
38.1.5.2 Enforcement in Movable Goods . 205
38.1.5.3 Enforcement in Immovable Goods . .205
38.1.6 Insolvency Proceedings . 206
38.1.6.1 General . .206
38.1.6.2 Required Documents . .206
38.1.6.3 Expected Timeframe and Outcome . . . . . . . . . . 206
38.2 Scotland . .206
38.2.1 Summary Cause Actions . .206
38.2.1.1 Ordinary Actions . .206
38.2.1.2 Defendant’s Responses . .206
38.2.2 Enforcement of Decrees . .207
38.2.3 The Debt Arrangement Scheme . .207
38.2.4 Charge for Payment . 207
38.2.5 Detailed Examination of
Attachment Orders . .207
38.2.5.1 How does the Sheriff officer Carry Out
the Attachment? . .207
38.2.5.2 Reporting the Attachment . 207
38.2.5.3 Removal and Auction of Attached Articles . 207
38.2.5.4 How to Attach Articles Kept
in Dwelling Houses . 207
38.2.5.5 Examination of Exceptional
Attachment Orders . 208
38.2.5.6 How is an Application for an Exceptional
Attachment Order Made? . .208
38.2.5.7 What is the Effect of an Exceptional
Attachment Order? . .208
39 United States of America
39.1 Amicable Phase . .210
39.1.1 General . .210
39.1.2 Local Agent . .210
39.1.3 Interests . 210
39.1.4 Debt Collection Costs . 210
39.1.5 Prescription . .211
39.1.6 Accepted and Most Common
Payment Methods . .211
39.1.7 Types of Companies . 211
39.1.8 Sources of Information . 211
39.2 Safeguarding Measures . 211
39.3 Legal Procedures . .212
39.3.1 General . .212
39.3.2 Legal System . .212
39.3.3 Required Documents . .212
39.3.4 Legal Dunning Procedure . 212
39.3.5 Lawsuit . .212
39.3.6 Appeal . .212
39.3.7 Costs . .212
39.3.8 Expected Timeframe . 212
39.3.9 Interests and Costs in the Legal Phase . 212
39.3.10 Arbitration and Mediation . .213
39.4 Enforcement . 213
39.4.1 Enforcement in Debt . .213
39.4.2 Enforcement in Movable Goods . 213
39.4.3 Enforcement in Immovable Goods . .213
39.4.4 Expected Timeframe . 213
39.5 Insolvency Proceedings . 214
39.5.1 General . .214
39.5.2 Proceedings . 214
39.5.3 Required Documents . .214
39.5.4 Expected Timeframe and Outcome . . . . . . . . . . 214
39.5.5 Rescission . .214
Legal Notice . 216
Atradius Collections Contact Details . .217
ATRADIUS COLLECTIONS - INTERNATIONAL DEBT COLLECTION HANDBOOK · MAY 2014 15

16. 1 INTRODUCTION
1 Introduction
Welcome
We are extremely proud to bring you the latest edition of the
International Debt Collections Handbook. Released for the first
time in 2008, this edition is brought to you with the addition of
three new countries - Chile, South Africa and Ukraine. The ver-sion
you hold in your hands today is now the 8th edition.
Since its launch, the International Debt Collections Handbook has
established itself as a key tool for you and your business when
it comes to making decisions concerning collections in a foreign
country. International debt collection and country specific legal
systems create challenges that affect every business. As a result,
the International Debt Collections Handbook has proven to be an
invaluable, highly demanded product for decision-makers in the
collections and credit management industry. It supports you and
your business by helping you select the right approach to debt
collection and explains the diversity and complexity of coun-try
specific debt collection approaches, often with an immense
amount of detail.
This new edition now covers 38 countries and explains the dif-ferent
stages of amicable settlement, financial regulations around
collections, legal proceedings and insolvency procedures in every
single country.
No business is immune to the risk of international trade and can
be exposed to poor payment behaviour. As a result, maintain-ing
and protecting cash flow is especially crucial for businesses.
Having knowledge of amicable collections as well as the coun-try
specific legal phases surrounding collections is therefore vi-tal
for survival in these challenging times. With local expertise
businesses can ensure that they are following a professional and
successful approach, which is where the International Debt Col-lections
Handbook can really help.
I am sure that you too will find the International Debt Collections
Handbook a highly useful in-depth resource tool for supporting
you and your business in all debt collections related decisions.
Kind regards,
Rudi De Greve
Global Operations Director, Atradius Collections
16 ATRADIUS COLLECTIONS - INTERNATIONAL DEBT COLLECTION HANDBOOK · MAY 2014
TABLE OF CONTENTS INTRODUCTION

17. 1 INTRODUCTION
1.1 About Atradius Collections
Atradius was originally founded as NCM in the Netherlands
in 1925 and was created with the goal of improving trade for
companies in the Netherlands. In Germany, Atradius’ roots stem
from Gerling Credit, which was established in 1954 and operated
solely out of Germany until 1962, when it opened its first inter-national
office in Switzerland.
In Spain, Crédito y Caución was founded in 1929 and focused
on growing steadily to become the dominant credit insurer and
surety company on the Iberian Peninsula.
The heritage, knowledge and exemplary service standards of
these three companies is now combined within the Atradius
Group, creating Atradius Collections as a global leader in busi-ness-
to-business debt collection.
With such a pedigree and global reach, Atradius Collections is
equipped to not only leverage successful debt collection on be-half
of our customers, but also sets out to maintain high stand-ards
in the market and has become a key player in the Business-to-
business collections market.
As a consequence of being a separate division within the Atradius
Group, Atradius Collections holds a strong position, sharing his-tory,
knowledge and reputation, which helps ensure that we de-liver
when it comes to collecting outstanding debts, outsourcing
customer’s receivables management or guiding them along the
route to growth.
Atradius Collections provides leading business-to-business col-lections
services plus a range of solutions that cover receivables
management needs. Their integrated worldwide network and op-erations
are unique in the market, while their online collections
management system allows customers to place and manage debts
24 hours a day, 365 days per year.
Having 20 offices and an extensive network worldwide, Atradius
Collections serves over 14,500 customers and collects over
270 million euros per year. As a part of the Atradius Group,
Atradius Collections looks back on over 85 years of global credit
management industry experience, positioning then as a leading
international trade invoice collection company
ATRADIUS COLLECTIONS - INTERNATIONAL DEBT COLLECTION HANDBOOK · MAY 2014 17
INTRODUCTION TABLE OF CONTENTS

18. 2.1 Amicable Phase
2.1.1 General
Atradius Collections Australia maintains a professional collection
process, focusing on the relationship between client and debtor
at all times. Our team of collection specialists carry out the col-lection
process in-house, contacting both verbally and in writing
whilst adhering to federal and state laws. Where there is a case of
dispute, we aim to reach an amicable solution between creditor
and debtor. We do this by analysing all contractual documents
(e.g. signed contracts, orders, confirmations, invoices and deliv-ery
notes as well as all standard terms that have been agreed
upon). All investigations are completed with the assistance and
agreement of our legal team.
2.1.2 Local Agent
Although not commonly used in Australia, we can employ lo-cal
agents to make field visits to your debtors in all areas of the
country. However, due to the size of the country, it may not be
economical in more remote regions. The agents we use will report
back on any meetings they have with the debtor, as well as also
providing a summary of the debtor’s business operations.
2.1.3 Interests
Atradius Collections Australia is not allowed to automatically
charge interest to debtors unless the client’s terms and condi-tions
and/or contract specifically outlines the penalty for over-due
payments. From a cultural point of view, Australian debtors
very rarely agree to pay late payment interest and it is often used
as a negotiation tool between debtors and collectors. However,
if the matter becomes legal and we file proceedings in the Court
for the debt’s recovery, then our claims will include a charge for
overdue interest as agreed under each state’s laws and the court
system. Again debtors will always reject paying any interest in
the first instance.
2.1.4 Debt Collection Costs
In Australia debt collection costs are not chargeable to debtors
unless the client’s terms and conditions and/or contract specifi-cally
outline exactly which collection costs become the respon-sibility
of the debtor and when. Again if the matter becomes legal
and we file proceedings in court for the debt’s recovery, then our
claim will include court fees and solicitors’ costs as agreed under
each state’s laws and the court system. These will be charged to
the debtor.
2 Australia
GDP (2014 EST.)
billion 1,436 $
GDP GROWTH RATE, ESTIMATED 2014
-4.6%
INDUSTRIES
Among the world’s largest and most technologically
advanced producers of mining, industrial and
transportation equipment, food processing,
chemicals, steel
EXPORTS ANNUAL GROWTH RATE (2014 EST.)
6.5 %
IMPORTS ANNUAL GROWTH RATE (2014 EST.)
-2.5 %
SUCCESS RATES (1/2011-12/2013 EST.)
60.71 %
SOURCE: INTERNATIONAL MONETARY FUND,
WORLD ECONOMIC OUTLOOK DATABASE, OCTOBER 2013
ALL DATA IN USD
18 ATRADIUS COLLECTIONS - INTERNATIONAL DEBT COLLECTION HANDBOOK · MAY 2014
TABLE OF CONTENTS AUSTRALIA

19. 2 AUSTRALIA
2.1.5 Prescription
The general prescription period in Australia for a simple contract
debt is generally 6 years starting from the original due date of
the debt. This means that a court will not hear an action for pay-ment
where a debt is outstanding for more than 6 years. Legal
action on such debts is barred by the statute. The time-period
may start again, however, if the debtor either makes a payment
or acknowledges the debt in writing. To have the effect of re-starting
the clock, a signed acknowledgment must either be made
by the debtor or a properly authorised agent of the debtor, ac-knowledging
that the debt exists and is unpaid. Whether a docu-ment
constitutes sufficient acknowledgment of the debt to re-start
the time period must be determined on a case-by-case basis.
The limitation period for enforcing a Court Judgment is 12 years.
2.1.6 Accepted and Most Common
Payment Methods
The most common payment methods are bank transfer and cheque
payment. We do not offer direct debit from debtor’s accounts.
2.1.7 Types Of Companies
Sole trader 77 An individual trading on their own
77 The sole trader owns all the business assets and is responsible for the liabilities
of the business.
77 Liability is unlimited and includes all personal assets, including any assets the
owner shares with another person.
Partnership 77 An association of people or entities running a business together, but not as a
company.
77 It can be a normal partnership, a limited partnership or an incorporated limited
partnership.
77 Apart from partners with limited liability, all partners are liable for financial
obligations. This applies even if one partner incurs debts without the other
partner’s knowledge or consent.
Trust 77 A business structure where a ‘trustee’ holds property or income for the benefit
of others, called ‘beneficiaries’
77 Trusts have various complex structures, each with their own set of financial and
legal obligations.
Proprietary Limited Company 77 A legal entity separate from its shareholders
77 Are regulated under the Corporations Law, which sets out substantial
obligations for company directors.
77 Companies have limited liability, but directors can be personally liable under
the Corporations Act 2001 if found to be fraudulent, negligent or reckless.
ATRADIUS COLLECTIONS - INTERNATIONAL DEBT COLLECTION HANDBOOK · MAY 2014 19
AUSTRALIA TABLE OF CONTENTS

20. 2 AUSTRALIA
2.1.8 Sources of Information
In Australia we contract very experienced reporting agencies to
assist with the assessment of the financial situation of debtors.
Depending on the debtor’s legal form we can also find out further
information, such as any property owned by them to determine
the best course of action against a debtor. We also have numer-ous
tracing agents who employ investigators where necessary to
locate debtors and their assets.
2.2 Retention of Title
The commencement of the Personal Property Security Act 2009
(PPSA) on 30 January 2012 has changed the way in which busi-nesses
that regularly supply goods under retention of title (ROT)
terms register their entitlement. Previously, ROT clauses were
recognised at law and did not require registration – indeed regis-tration
was not possible. Suppliers of goods that supplied under
an effective ROT clause were able to recover goods not yet paid
for upon the insolvency of the party in possession of the ROT
goods. Now, under the Personal Property Securities Act 2009
(Cth), the supplier can register their interest on the PPS Register
in order to protect that interest, and their right to repossess the
goods, should the customer fail to pay. For continuous supply of
goods situations, the supplier needs only to register once for each
customer – not for every supply of goods.
The security interest arising from an ROT arrangement is referred
to, in PPSA terminology, as a ‘purchase money security interest’
(PMSI). The importance of this type of security interest is that if
duly registered within the legislated timeframes, it generally has
a ‘super priority’ against other interests in a variety of circum-stances.
For instance, a supplier who has a duly registered PMSI
can potentially have priority over even previously registered se-curity
interests. A failure to register an ROT arrangement as a
PMSI does not render it ineffective, however, but means it will
not enjoy super priority against other interests. That is not to say
that all ROT suppliers should necessarily try to register all of their
ROT arrangements as PMSIs. Instead, ROT suppliers will need to
consider carefully the benefits of registration against the nature
and magnitude of the risk that the ROT arrangement is intended
to address and their relationship with their customers, as well as
the burden and cost of registration.
2.3 Safeguarding Measures
In case a debtor is not able to satisfy your claim in a speedy man-ner,
we can request the debtor to secure the debt in favour of our
client. This can be done amicably and cost efficiently by provid-ing
deed of acknowledgement of debt - drafted by our solicitors
and authenticated by a Justice of the Peace. This allows for the
deed to be used as evidence of the debt if any legal action in the
courts is disputed. If the debtor is a company we can request
the directors sign personal guarantees allowing them a suitable
longer term repayment plan (over 3 months). The debtor is also
able to offer other means of security like mortgages, assignment
of debts or assets.
2.4 Legal Procedures
2.4.1 Legal System
77 Debts of up to $40,000 AUD are recovered in the Local Court.
77 Debts of up to $750,000 AUD can be recovered in the District
Court.
77 Debts exceeding $750,000 AUD are usually dealt with in the
Supreme Court.
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Flowchart of the Legal Process
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22. 2 AUSTRALIA
2.4.2 Required Documents
In order to begin any legal procedure we require copies of the
invoices and a clear statement of account indicating payments
and credit notes that have been paid against the outstanding in-voices,
as well as any contract or terms & conditions binding both
parties. As the lawsuit proceeds further we may require further
documentation such as copies of the contract, orders, confirma-tions,
delivery notes and invoices etc, which can be requested
when needed. In case of dispute, all notes of conversations be-tween
creditor and debtor via letters and emails that may assist
our lawyers should be kept. In the case of oral negotiations, we
may require meeting or system notes about what was agreed.
2.4.3 Legal Dunning Drocedure
Unless required by your contract (or personal guarantee), it is not
necessary to send any letter of demand, reminder notice or other
form of correspondence requesting payment before taking legal
action. However, it is considered best practice to issue a form
of pre-legal step before taking legal action to give the debtors a
chance to pay before incurring costs. Many contracts require a
demand for payment of formal termination for amounts to be-come
due. It is best to comply but is not usually enforced by law.
2.4.4 Lawsuit
To commence Court proceedings the creditor files a Statement of
Claim. This document sets out the basic details of the debt and
informs the debtor they need to pay the debt or to defend the
matter within 28 days after service of the Statement of Claim. If
the debtor does not file a defence and does not pay within that
twenty-eight day period, then Judgment will be entered against
them. The Plaintiff is free to commence proceedings in any Court
but if the action is commenced in an “inappropriate Court” the
Defendant may be able to transfer the proceedings to a more
appropriate Court. We always try to issue legal proceedings in
the state in which the debtor resides, so taking away their abil-ity
to dispute the jurisdiction. The full legal costs and disburse-ments
can be claimed in the statement of claim and they become
payable upon issue of the statement of claim – not service. If a
Defendant has not paid the amount claimed or filed a defence
within 28 days of service of the statement of claim, the Plaintiff
is entitled to apply for a default judgment against the Defendant.
An application for a default judgment in a claim is made by filing
a notice of motion. This must include an affidavit in support by
an officer of the client and must take into account the indebted-ness
of the Defendant. The affidavit in support of the notice of
motion must be filed within 14 days of swearing, which can cause
issues in cases where the client is located outside of Australia. A
judgment can be enforced for 12 years, with interest accruing
from the day following the date of judgment. Some Defendants
and their lawyers may want to delay the proceedings for as long
as they can. This may be in the form of a request for particulars
- a letter requesting details of the claim – such as whether the
contract is written or verbal, copies of invoices and details of
orders. Whilst it often is a delaying tactic, if it is straightforward
to answer (and does not tactically damage the case) it is best to
do so because the alternative (a fight about particulars) can add
unnecessary costs and delays to the proceedings.
2.4.5 Appeal
Appeals from the Local Court are to the Supreme Court, thus
making any application very expensive. Appeals must be lodged
within 28 days of the date of the decision, or such other time as
allowed by the Court.
It is also possible for judgment debtors to make an applica-tion
to set aside a default judgment. To do so they have to
serve evidence to prove two things:
77 That there is a reasonable explanation for why no defence
was filed within the time allowed; and, more importantly
77 That there is an arguable defence to the claim.
It is not sufficient to only satisfy one of the factors, though there
is definitely more weight placed on whether or not there is an ar-guable
defence. It does not have to be a defence that will succeed
but merely has to be arguable. It is not sufficient to swear that
the Defendant has an arguable defence, it is necessary to state
some facts in the affidavit that show that the proposed defence
is reasonably arguable in the circumstances.
2.4.6 Costs
Costs of the civil law procedures are determined by each of the
state’s legislation and regulation and all differ slightly. All costs
depend on the amount of the outstanding principal, which also
determines which court the matter is started in. To issue a sum-mons
costs approximately $200 - $1,400 AUD in Court filing fees
and $300 - $1,000 AUD in Solicitor’s costs - depending on the
debt value. To then obtain a default Judgment will cost a further
$200 - $600 AUD in Solicitor’s costs. Enforcement options will
cost approximately $500 - $1,000 AUD for a Garnishee Order,
Examination Notice or Writ for the Levy of Property. Bankruptcy
and Wind Up Applications are significantly more expensive with
the total process at times costing $5,000 - $8,000 AUD.
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23. 2 AUSTRALIA
2.4.7 Expected Timeframe
The average duration of a normal standard legal process is be-tween
10 and 16 weeks, whereas a defended court procedure can
take 12 months or longer, depending on the complexity of the
case and the availability of the judge and the lawyers on both
sides.
2.4.8 Interests and Costs in the Legal Phase
Out of court interests and costs & charges can only be charged
if they are included in your written agreement or contract with
your buyer before the transaction occurs, and it clearly outlines
what the penalties will be for late payment. Even then it is not
common for debtors to agree to pay any of these extra costs and
they are often used to negotiate a quicker settlement of the ac-count.
Under our local laws, no automatic costs and interest are
allowed to be added to debts when being collected by a commer-cial
debt collector. When legal action is filed through the Courts
(a Statement of Claim) the legislation allows for a prescribed
amount to be added to the debt to cover the Court Filing Fee,
Solicitor’s drafting costs and prescribed interest. These are re-ferred
to as ’scale costs’ and are legally added to the debt amount
upon the filing of the Statement of Claim. In practice however,
many debtors will only pay the invoiced debt amount of a State-ment
of Claim and not pay the fees, costs and interest portion.
This amount can be pursued further, but in reality, it is often not
worth spending further money chasing these costs.
2.5 Enforcement
2.5.1 Enforcement in Debt
The creditor can enforce a court awarded judgment in the fol-lowing
ways:
Garnishee Order
A garnishee order is an order made by the court to allow you to
recover the judgment debt from the debtor’s bank account, wag-es
or even people who owe money to the debtor. The person the
order is addressed to (the employer, bank or person who owes
money to the judgment debtor) is known as ‘the garnishee’. The
most common garnishee order is for the judgment debtor’s wages
or salary. This order tells the judgment debtor’s employer to take
an amount of money from the judgment debtor’s wage and pay it
to you until the whole judgment debt is paid off. As an enforce-ment
tool, garnishee orders are not very successful, as they have
very strict requirements attached to them and if all information
is not 100% correct, they will often be rejected.
Examination Notice
If you are unsure about the judgment debtor’s financial position,
you can ask the judgment debtor to provide you with information
about their income and assets. This is done with an examination
notice or an examination order, and can help you decide whether
to take further enforcement action and what form that action
should take. First you must file the motion at Court and then
serve the debtor (or a director). The filing fee is approximately
$100 AUD for an individual and $150 AUD for a corporation and
the service fee varies depending on the debtor’s location.
Bankruptcy
If the debt is for more than $5,000 AUD you may start bankruptcy
proceedings against the creditor. If a person is declared bankrupt,
then all of their property (with some basic living exemptions)
comes under the control of a trustee. You may then lodge proof
of your debt (the judgment) with the trustee to receive a share
of the profits from the sale of the debtor’s property. Before you
commence bankruptcy proceedings consider whether the debtor
owns enough property to make declaring them bankrupt worth-while.
If they own real estate (check at the Lands Titles Office) or
if they have a position that they will lose if declared bank- rupt,
then the threat of bankruptcy may force payment of the debt.
The first step in bankruptcy proceedings is usually to serve the
person with a bankruptcy notice. A bankruptcy notice is a form
requiring the debtor to pay the debt within 21 days. Once 21
days have elapsed from the service of the bankruptcy notice on
the debtor, a creditor’s petition must be lodged in the Federal
Magistrates Court. The cost of bankrupting someone should be
carefully considered as it may cost over $6,000 AUD.
Winding up a Company
Winding up is similar to bankruptcy. To wind up a company you
must prove that it’s insolvent (unable to pay its debts) by issuing
a statutory demand. If the judgment debtor does not respond to
a statutory demand within 21 days, you can file an application
for a winding up order. This is an expensive and complex way of
enforcing the debt and is usually considered only as a last resort.
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24. 2 AUSTRALIA
2.5.2 Enforcement in Movable Goods
Writ for the Levy of Property
A Writ for the Levy of Property is an order for a sheriff to ‘seize’
and sell, at auction, personal property (not land) belonging to
the debtor. The money from the sale of the goods is used to pay
the judgment debt owed to you. In many cases the arrival of the
sheriff with a writ will encourage the judgment debtor to avoid
the sale of their property by making arrangements to pay you.
At this stage the debtor can either apply to set aside the judg-ment,
make an instalment application to the Court or disagree
with the outstanding amount of the judgment debt. The sher-iff
charges $75 AUD for each address they visit, and for each
time they visit an address. The cost for the sheriff to auction the
seized goods is usually a flat fee of $50 AUD but may be more in
some coun- try areas due to advertising and auction expenses. If
the sheriff needs to tow a car you will need to pay a deposit of
around $300 AUD, which will not be refunded to you. If there
are any special requirements, such as moving pianos, pool tables
or heavy ma- chinery, you may have to pay extra to the sheriff.
Any expenses that the sheriff incurs in enforcing the writ will
be payable by you. The sheriff also charges a levy of 3% of any
monies made from auctioning the seized goods, payable to them
after the auc- tion. Any amount payable will be added to the
judgment debt.
2.5.3 Enforcement in Immovable Goods
If the debtor owns real estate the only possible way to access this
asset is either through bankruptcy of an individual or the liqui-dation
of a company. This is discussed further in 2.6 Insolvency
Proceedings.
2.5.4 Expected Timeframe
The duration for the various enforcements options vary depend-ing
on which action you choose. Some actions will be finalised in
6-8 weeks and others may take 6-9 months.
2.6 Insolvency Proceedings
2.6.1 General
Insolvency is determined on a cash flow basis or the ability to
pay debts. This corresponds with the definitions contained in the
Corporations Act, which states an entity is insolvent if it cannot
pay its debts as they fall due. The inability to pay debts is linked
directly to the inability to obtain immediate cash and to debts be-ing
“due and payable”. The aim of an insolvency proceeding is to
pay out all creditors equally by liquidating the assets of a debtor
company or collecting the enforceable income of an individual
who is declared bankrupt.
2.6.2 Proceedings
A Notice of Winding Up Application is issued to the registered
office of a company when a creditor has filed in Court an ap-plication
to wind up a company. This normally takes place after a
creditor obtains judgment debt or following failure for a debtor
company to comply with a statutory demand within 21 days.
Once these events have started, a creditor may issue proceed-ings
in the Federal Court or the Supreme Court to wind up the
company. The process for issuing these proceedings is brought
under Section 459P of the Corporations Act. If the Winding Up
Application hearing takes place and the Court is satisfied that a
company should be wound up, the Court makes an order for the
company to be wound up and appoints an Official Liquidator.
Normally, the appointed Liquidator has provided consent to be
appointed prior to the hearing upon the request of the creditor
(or their lawyers) making the Winding Up Application.
It is important that Directors are aware that once a Winding Up
application commences, it’s normally based upon an act of in-solvency
having taken place. If the Winding Up action is not
dismissed and heard before a Court, the question of insolvency
is usually taken into consideration. The creditors can then lodge
their claim with the Liquidator and attempt to take back any
goods delivered under retention of title. After the procedure
starts, a claim-lodge is possible provided it occurs before the liq-uidation
is finalised. The Liquidator can either accept or dispute
the lodged debt. If the claim is disputed, the creditor may file a
claim in court to prove the justification of his claim, if further
documentation etc. does not convince the liquidator into con-firming
the debt. At the end of the proceeding all creditors with
confirmed debts may receive a dividend if there are any funds to
be divided. Please note that the petition creditor’s legal costs that
placed the debtor company into liquidation will be considered as
a priority and paid back to the creditor first before any dividends
are shared.
2.6.3 Required Documents
In order to lodge the claim on your behalf we are in need of:
77 Copies of invoices.
77 Copies of contracts.
77 Copies of orders, order confirmations and delivery notes.
77 Copies of general conditions of sales, should there be any.
77 Copies of any other correspondence that may verify the
claim.
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25. 2 AUSTRALIA
2.6.4 Expected Timeframe and Outcome
The whole duration of insolvency proceeding cannot be predict-ed
in Australia. They can take from a few days up to many years,
depending on the complexity of the company and the liquida-tion.
2.6.5 Limited Companies
Proprietary Limited companies can either go into liquidation
or company administration. Prior to being made insolvent the
company directors may be able to call a halt to the liquidation
proceedings and appoint an Administrator to relieve the pressure
and stress that they are under. If this isn’t done and they do not
respond to a statutory demand within 21 days you can file an ap-plication
for a winding up order and appoint a Liquidator.
2.6.6 Unlimited Companies/Individuals
Unlimited companies are not very common in Australia and do
not make a difference to the insolvency proceedings. They can be
liquidated and the members bankrupted in the pursuit of a debt
recovery. Bankruptcy generally lasts for a period of three years
for individuals but can be extended in certain circumstances.
There is a permanent record on the National Personal Insolvency
Index (an electronic public register which can be accessed by
anyone for a fee). Creditors are then notified of the bankruptcy
and unsecured creditors must stop pursuing them for payment of
the debt. A trustee will then be appointed and in order to pay the
creditors, this trustee will:
77 Sell any assets (although they are able to keep certain types
of assets)
77 Mandate contributions from their income once they earn
over a certain amount, currently $48,000 AUD
77 Investigate their financial affairs and may recover property
or monies that they have transferred to someone else for
inadequate consideration
2.6.7 Rescission
Unfair preferences usually involve transactions that discriminate
in favour of one creditor at the expense of others. The aim of the
law is to ensure creditors are treated equally by preventing any
unsecured creditors from receiving an advantage over others.
The general time frame in which payments may be classified as a
preferential payment is 6 months prior to the date of Bankruptcy
or Liquidation. Please note that the time frame is a guide and
contains specific provisions that may alter the period that pref-erential
payments may be recovered depending on several cir-cumstances
of each Bankrupt Estate or Liquidation. In addition,
related party transactions may be void for a period anywhere up
to 4 years prior to the date of Bankruptcy or Liquidation. If the
liquidator disputes these payments, the creditor may be forced to
refund them and can only lodge the corresponding debt instead.
2.7 Arbitration and Mediation
If creditor and debtor agree on an alternative dispute solution
they can attend an arbitration and mediation service. These are
all private tribunals that look to serve the community, commerce
and in- dustry by facilitating efficient dispute resolution meth-ods
including arbitration, mediation, conciliation and adjudica-tion.
However these are not widely used within debt recovery
in Australia.
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26. 3.1 Amicable Phase
3.1.1 General
Atradius Collections Austria maintains a professional collection
process, focusing on the relationship between client and debtor
at all times. Our team of collection specialists carry out the col-lection
process in-house, contacting both verbally and in writing
whilst adhering to federal and state laws.
3.1.2 Local Agent
At this time we do not have the facility to visit debtors in Austria,
but should this situation change, we will inform you immediately.
However, if the debtor wishes to visit our premises, we will glad-ly
arrange a face-to-face meeting to discuss the situation.
3.1.3 Interests
Atradius Collections always charges interest to debtors calculated
from the base rate set by the Austrian National Bank plus 9,2%
on a daily basis (see European Directive 2000/35/CEE Article 3.
Section 1d in conjunction with paragraph 456 Austrian trade
law. From a cultural point of view, Austrian debtors are used to
paying late payment interest, although the actual amount of the
interest payment is considered a matter of negotiation between
debtors and collectors.
3.1.4 Debt Collection Costs
Collection Costs (“Inkassokosten”) can be charged according to
§ 1333 ABGB as damage for delay. Austrian cases are dealt with
by our German subsidiary, so therefore we apply the same debt
collection costs that are charged to German debtors, calculated on
the basis of the RVG (Rechtsanwaltsvergütungsgesetz), the Ger-man
statutory lawyers’ fees. Atradius Collections Germany will
either forward all recovered debt collection costs to our client to
reduce the claim, retain the cost or add them to the success fee.
This will depend on the contractual agreement between the cli-ent
and Atradius Collections.
3 Austria
GDP (2014 EST.)
billion 445 $
GDP GROWTH RATE, ESTIMATED 2014
7.1 %
INDUSTRIES
Among the world’s largest and most technologically
advanced producers of construction, machinery, vehicles
and parts, food, metals, chemicals, lumber and wood
processing, paper and paperboard, communications
equipment, tourism
EXPORTS ANNUAL GROWTH RATE (2014 EST.)
3.3 %
IMPORTS ANNUAL GROWTH RATE (2014 EST.)
3.2 %
SUCCESS RATES (1/2011-12/2013 EST.)
63.91 %
SOURCE: INTERNATIONAL MONETARY FUND,
WORLD ECONOMIC OUTLOOK DATABASE, OCTOBER 2013
ALL DATA IN USD
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27. 3 AUSTRIA
3.2 Legal Procedures
3.2.1 General
Entering into legal procedure is possible without prior warning to
the debtor. However, in Austria courts prefer to find settlements
between the debtor and creditor.
3.2.2 Required Documents
In order to apply the legal dunning procedure, we require cop-ies
of the contract, invoices and statements indicating payments
and credit notes, which have been paid against the outstanding
monies. In case of a regular lawsuit procedure, copies of all con-tractu-
al documentation should be available starting with the
contract, orders, order confirmations, delivery notes and invoices
etc. Every step of the relationship between both parties should
be provable by documentation. In case of dispute, all notes of
conversations between creditor and debtor should be kept and
given to our lawyers. In the case of verbal negotiations, we are
in need of the visit/negotiations reports and names of any wit-nesses.
3.2.3 Legal Dunning Procedure
The Austrian legal dunning procedure is a 1-step procedure for
payment claims up to 75,000 EUR. The outcome is the Payment
Order (Zahlungsbefehl). For a claim up to K¤ 10 the local court is
the competent court, and for claims exceeding K¤ 10 the district
court is the competent one. The Court releases a limited Payment
Order (“bedingter Zahlungsbefehl.”) to be served to the debtor.
The debtor can object against it within 4 weeks after delivery
or pay the principal amount plus the interest within 14 days. If
no objection is filed, the limited Payment Order becomes valid
as a final Payment Order and the execution can be started. If an
objection is filed within the 4-week deadline, the process will be
transferred into a normal court procedure.
3.2.4 Lawsuit
The regular lawsuit procedure is either initiated directly after am-icable
collection failed due to a dispute by the debtor or follows
directly to the legal dunning procedure after the debtor appealed.
Usually a written pre-procedure is issued. Both the plaintiff and
the defendant exchange opinions and proofs by letter until the
judge has the impression of having all relevant information in
order to judge. In this case a hearing is scheduled during which
both parties have to be present. After the oral hearing the judge
sets a date to publish the final judgement. The parties will be
informed about the outcome in writing by the responsible court.
3.2.5 Costs
All costs are dependant on the amount of the outstanding princi-pal
and are calculated taking into account amounts kept by each
party. There are different fees that can apply during a procedure,
which makes it difficult to predict the total costs. In addition to
this, costs for witnesses and/or experts might also arise. Costs
estimation will be provided on a case-by-case basis should legal
actions become necessary.
3.2.6 Expected Timeframe
The average duration of a legal dunning process is between 8 and
12 weeks, whereas a court procedure can take up to 12 months
or longer depending on the complexity of the case, as well as the
availability of the judge and the lawyers on all sides.
3.2.7 Interests and Costs in the Legal Phase
Out of court interests and costs can be claimed as part of the
outstanding during the legal procedure. Court costs and lawyers’
costs are also chargeable to the debtor when a judgement is made
in favour of the creditor. In the case of a legal settlement the par-ties
bear the costs of the corresponding proceedings in propor-tion
to their prevailing or failing.
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28. 3 AUSTRIA
3.3 Insolvency Proceedings
3.3.1 General
The Insolvency Procedures in Austria changed in 2010 and the
new law is called the Insolvency Code (“Insolvenzordnung”).
The German Version of this Law can be found here:
http://www.ris.bka.gv.at/
3.3.2 Proceedings
The central procedure is still the “Zwangsausgleich”, which has
been rephrased to “reorganisation plan”. This is a special proce-dure
where the debtor has to offer a minimum dividend to their
creditors of 30%, which must be paid within two years. More
than 50% of the creditors must agree to the reorganisation plan.
These creditors - the majority of more than 50% headcount -
must settle on a minimum 50% of the total outstanding amount.
Both conditions (majority of heads and majority of outstanding
amounts) must apply, and the court finally decides upon it. The
insolvency procedure takes 2 to 12 months. The dividend pay-ment
can take up to two years. The average dividend in Aus- tria
in 2009 was 9.7% of the debt. With the new insolvency law we
do not yet have significant enough numbers to have a look at
whether this figure has increased since 2010. The next 2 to 3
years will show whether the average dividend has be increased as
intended. An insolvency procedure can be managed by a lawyer,
the three privileged creditor associations KSV, AKV and Creditre-form
or the creditor themselves.
3.3.3 Required Documents
In order to lodge the claim on your behalf we are in need of:
77 The original power of attorney
77 Copies of invoices
77 Copies of contracts or
77 Copies of orders, order confirmations and delivery notes
77 Copies of general conditions of sales, should there be any
77 Copies of any other correspondence that may verify the
claim
3.3.4 Expected Timeframe and Outcome
The deadline to lodge claims is usually around 1-3 months de-pending
on the complexity of the procedure and starts from the
adjunction order (Insolvenzeröffnungsbeschluss).
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29. 3 AUSTRIA
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30. 4.1 Amicable Phase
4.1.1 General
Atradius Collections Belgium maintains a professional collection
process, focusing on the relationship between client and debtor
at all times. Our team of collection specialists carry out the col-lection
process in-house, contacting both orally and in writing,
whilst adhering to federal and state laws. Where there is a dis-pute,
we aim to reach an amicable solution between creditor and
debtor. We do this by analysing all contractual documents (e.g.
signed contracts, orders, confirmations, invoices and delivery
notes as well as standard terms previously agreed upon). All in-vestigations
are completed with the assistance and agreement of
our legal team.
4.1.2 Local Agent
When our in-house actions do not lead to a positive result, we
will contact a local agent from our network. Each agent is respon-sible
for a specific region or area, where their role is to contact
debtors by visiting their address and providing us with infor-mation
regarding the debtor’s situation and solvency. Agents are
also permitted to receive payments from debtor. Agents have to
keep us informed regarding the progress of the case and their
final report will help us make a decision regarding the next ac-tions
to be taken
4.1.3 Interests
Atradius Collections Belgium always charges interest to debtors.
The applied default rate is 12%, unless the interest rate foreseen
in client’s sales conditions is higher. In that case, we will apply
the client’s interest rate. From a cultural point of view, the re-covery
of late payment interests in Belgium is quite difficult due
to the interest payment being considered a matter of negotiation
between debtors and collectors.
4.1.4 Debt Collection Costs
In Belgium we charge two types of collection costs:
77 Collection costs according to section 6 of the statute of
2 August 2002 on late payment: a fixed amount of 40 EUR
(whatever the amount of the debt)
77 A penalty clause of 15% of the principal amount of the cliam
submitted to Atradius Collections Belgium.
From a cultural point of view, Belgian debtors are not used to
paying debt collection costs, though often the actual amount of
these costs can be considered a matter of negotiation.
4 Belgium
GDP (2014 EST.)
billion 535 $
GDP GROWTH RATE, ESTIMATED 2014
5.6 %
INDUSTRIES
Among the world’s largest and most technologically
advanced producers of engineering and metal products,
motor vehicle assembly, transportation equipment,
scientific instruments, processed food and beverages,
chemicals, basic metals, textiles, glass, petroleum
EXPORTS ANNUAL GROWTH RATE (2014 EST.)
2.5 %
IMPORTS ANNUAL GROWTH RATE (2014 EST.)
2.3 %
SUCCESS RATES (1/2011-12/2013 EST.)
88.07 %
SOURCE: INTERNATIONAL MONETARY FUND,
WORLD ECONOMIC OUTLOOK DATABASE, OCTOBER 2013
ALL DATA IN USD
30 ATRADIUS COLLECTIONS - INTERNATIONAL DEBT COLLECTION HANDBOOK · MAY 2014
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31. 4 BELGIUM
4.1.5 Prescription
The general prescription period in Belgium is 10 years. The stat-ute
of limitations depends of the nature of the invoice. Some ele-ments
like a legal summons can interrupt the prescription period.
4.1.6 Accepted and Most Common
Payment Methods
The most common payment method is a bank transfer. Artra-dius
Collections also accepts drafts, but these are quite rare in
Belgium. We do not offer the direct booking off from debtor ac-counts.
4.1.7 Types of Companies
77 SA/NV
Joint stock company. At least two associates are required.
77 SPRL/BVBA
Limited Liability Company. At least two associates are
required.
77 SPRLU/EBVBA
Limited Liability Company. One associate is required.
77 SCRI Cooperative Company
Unlimited Liability of the associates. At least two associates
are required.
77 SCRL Cooperative Company
Limited Liability of the associates. At least two associates are
required.
Liability of Founder(s) of a Company
(Mostly SPRL/BVBA or SA/NV)
Generally the founders of a company cannot be held personally
li- able for the debts of the company. The founders have to keep
enough capital at the disposal of the company to enable it to
function normally for at least two years. If the company does not
have enough capital at its disposal and it goes bankrupt within
three years, the trustee in charge of the bankruptcy can sue the
founders in court, which may hold them liable for some debts of
the company.
Managerial Liability
Managers act on behalf of the company and engage the company
but not themselves; so they cannot therefore be held person-ally
liable for the debts of the company. However, they can be
held liable if they made mistakes or errors in the exercise of their
managerial function or if they did not respect the rules of the
Belgian Code of Companies. To be held liable in these cases, the
creditor can act against them, but has to establish the fault, the
damages and the connection between them. In case of a bank-ruptcy,
a special kind of managerial liability exists. If the trustee
in charge of the bankruptcy or the unpaid creditor can establish
the gross misconduct of the manager(s) and if this misconduct
caused wholly or partially the bankruptcy, the manager(s) can be
held wholly or partially liable for the debts of the company. This
kind of action is rarely successful, because of the difficulty of the
burden of proof in these matters.
4.1.8 Sources of information
In Belgium we have several sources of information at our disposal
to obtain information on debtors:
77 External information provider
We have access to official databases that provide us with
information on companies such as address, insolvency status,
bank account, a payment delays to the VAT administration
and Social Laws, manager’s name and shareholders. Every
official modification of the company will be available in that
database.
77 Agent’s report
As explained previously, our agents constitute a source
of information by providing us with details on a debtor’s
situation at their official address, their assets and reputation.
77 Bailiff’s report
Our bailiffs are able to inform us regarding potential other
seizures registered against the debtor (only available when a
legal action has been already started).
77 Public registers
We can contact public offices to know if debtors are
owners of real estate and if mortgages are in place on those
properties. We can then make a decision whether or not to
take a real estate action.
77 Registration of address office
A private debtor with no known address can be traced via
the Registration of Address Office. Private persons are legally
obliged to officially de-register when moving from one town
to another, and to re-register in their new town. Occasionally
some debtors do not follow this procedure and cannot be
traced.
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4.2 Retention of Title
In some cases (bankruptcy and temporary composition) reten-tion
of title is possible and opposable to third parties. Stringent
conditions have to be met.
In case of a bankruptcy, retention of title is regulated by section
101 of the statute on bankruptcy of 08.08.1997.
To be opposable to third parties :
77 The clause of retention of title must be established by a
written document at the latest on the date of the delivery of
the goods.
77 The clause has to be accepted by the buyer and the creditor
has to be able to prove this if necessary.
77 The goods have to be movable and still be in possession of
the buyer. In case of bankruptcy, the request to activate the
retention of title has to be initiated by the creditor before the
deposit of the first statement of verification of the claim.
Given the strict conditions and the fact that one or more condi-tions
are rarely met, the use of retention of title in Belgium is
often not very successful.
4.3 Safeguarding Measures
The goal of these measures is to maintain, as much as possible,
the condition of the debtor’s estate (mobile goods and/or real
estate).
Normally, the creditor has to obtain from the competent Judge of
Seizures an authorisation for the safeguarding measure in ques-tion.
However, in case of a protective seizure in the hands of a third
party, the creditor does not need a special authorisation for this
action. He can instruct a bailiff to seize the debtor’s bank account
(with agreement of the bank) or to proceed to a protective sei-zure
of the funds owed to the debtor by a third party. These two
actions only need the correct paperwork. Naturally, it is impos-sible
to know beforehand if the funds are still available on the
debtor’s bank account or in the hands of the third party, owing
money to the debtor. Therefore, this (very costly) option should
be well considered beforehand, as it will cost around 500 EUR
(or more).
If the creditor knows the debtor is going to sell all or a part of
his real estate and he can establish the urgency, the creditor can
request the competent Judge of Seizures to grant him permis-sion
to proceed to a protective seizure on all or a part of debtor’s
real estate This attachment is valid for three years and can be
renewed for terms of three years (if necessary).
If the creditor learns a notary is selling all or a part of debtor’s
real estate, he can ask a bailiff to deliver a special protective gar-nishment
to the notary, notifying the latter of the creditor’s claim
and of his intention to receive a dividend of the selling price. Any
notary proceeding to sell (a part of) a debtor’s real estate on his
behalf must check a special register, in which all the attachments
on the real estate of debtor and seizures on debtor’s mobile goods
are mentioned. Every notary must ask every creditor mentioned
in this register if he is still a creditor and if so, the amount of his
claim.
A debtor can offer to the creditor some kind of security like
mortgages, assignment of debt or against debts as well. Assign-ments
of debts or assets can be done via a contract, while mort-gages
have to be registered by a notary.
4.4 Legal Procedures
4.4.1 General
Legal action to recover receivables is based on the general prin-ciples
of the Civil Code, (Code Civil/ Burgerlijk Wet- boek), the
Commercial Code (Code de Commerce/Wetboek van Koophan-del)
and the Judicial Code (Code Judiciare/Gerechtelijk Wet-boek)
and on particular regulations in special circumstances or
special cases. The most common insolvency proceedings (bank-ruptcy
and judicial reorganization) are governed by special laws.
Atradius Collections Belgium uses his own network of lawyers
with which we work on a regular basis.
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4.4.2 Legal System
To determine which court will deal with the claim, depends
on the total amount of the claim (interests and collections
costs included):
77 A claim <1,860 EUR against a Merchant or non-Merchant
debtor is handled by the Justice of the Peace
77 A claim >1,860 EUR against a Merchant debtor is handled by
the Commercial Court
77 A claim >1,860 EUR against a Non-Merchant debtor is
handled by the Court of First Degree
According to the rules of the judicial code, the action against the
debtor in payment of the claim is brought before a competent
court in the judicial district where the debtor has his official place
of residence or his registered address (if the debtor is a company).
Judicial Organisation in Belgium
Constitutional Court
Court of Appeal Work Court
Court of First
Instance
Commercial
Court
Justice of Peace
District
Court
The plaintiff does not require representation by a registered
attorney before any court except in front of the Constitutional
Court.
4.4.3 Required Documents
The mandatory documents required to start a legal action
in Belgium are:
77 Copies of the nvoices
77 Copy of the terms and conditions
77 Power of attorney signed by the client
In Belgium, a Power of Attorney is needed for each file and has to
be signed by the creditor’s legal representative. The proxy must
be drafted in the language of the legal proceedings (i.e. in French,
Dutch or German).In disputed cases, it is highly recommended to
present copies of the formal notices and/or reminders sent to the
debtor, proof of orders or contracts, of delivery of the goods and
any other document signed by the debtor in which he acknowl-edges
the claim or the dispute.
The creditor should also be able to provide any notes of conver-sations
between him and the debtor.
4.4.4 Legal Dunning Procedure
In Belgium, sections 1338 to 1344 of the judicial code provide a
summary procedure to obtain payment from the debtor. While
the cost for initiating this procedure is rather low in comparison
with a normal lawsuit, we do not use this procedure for the re-covery
of receivables, because of the following disadvantages:
77 Necessity of a written and signed document by the debtor
acknowledging the claim (and establishing the claim)
77 The whole claim cannot exceed 1,860 EUR
77 The claim has to be undisputed
77 Before the introduction of the request by the lawyer, the
creditor has to send a special reminder to the debtor by
registered letter; this letter has to meet very strict and formal
conditions. If the content of the letter does not comply, the
request of the creditor will be rejected as not admissible
77 The request to the competent court has to be signed by a
lawyer
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4.4.5 Lawsuit
If the amicable collection has failed and the solvency of the
debtor is satisfactory, we can, with approval of the creditor, initi-ate
legal proceedings by bringing a lawsuit before the competent
court against the debtor.
A summons is delivered by a bailiff to the debtor. By this docu-ment,
the debtor is officially notified of the lawsuit. It contains
the identity of the creditor, a summary of the raisons of the law-suit
and a detailed statement of account and the amount to pay
as well as the date of the introductory hearing and the hour and
place of the hearing.
The legal procedure and the summons are prepared in-house by
our legal team, which gives the necessary instructions to the bail-iff;
who, after drafting the summons, delivers it to the debtor.
After having received instructions from the legal team, the law-yer
entrusted with the legal case, puts together the paper file for
the court case and represents the creditor at the introductory
hearing.
After examination of the summons, the file and all necessary
documents, the court hears the lawyer and, if everything is in
order, the court closes the case and has to render a judgement.
If needed, the court can postpone the case in order to obtain an-swers
from the creditor if questions or issues arise. Usually, the
court renders its judgement a month after the hearing.
If the debtor is present (or represented by a lawyer) and does
not dispute the claim, he usually requests the court to grant a
payment plan. After having heard the creditor on this issue, the
court will render a judgement.
If the debtor is present (or represented by a lawyer) and disputes
the claim, the court establishes, at the request of the parties, a
calendar to exchange written argumentations and a hearing date,
on which both parties will plead their case. The timeframe of this
calendar can vary from 3 to 6 months (or more); it can also be
extended. After having heard the parties at the fixed hearing, the
court will render its judgement at a given date. If no date is given,
usually a judgement intervenes one month after the hearing.
4.4.6 Appeal
In Belgium, you can bring an appeal before the competent court;
which court depends on the amount of the claim and the quality
of the debtor (merchant or not) as illustrated in the following
table:
Amount of the debt
(interests and collection costs included)
Decision in First Degree Appeal Court
77 ≤ 1.250 EUR Justice of the Peace No appeal possible
77 > 1.250 EUR and ≤ 1.860 EUR Justice of the Peace Court of First Degree
77 > 1.860 EUR Non-commercial debt Court of First Degree Court of Appeal
77 > 1.860 EUR Commercial debt Commercial Court Court of Appeal
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4.4.7 Costs
We have two types of costs in the frame of our legal actions:
Judicial costs
77 Summons and registration on the docket of the court:
approximately 250 to 300 EUR
77 Indemnity of Procedure: this indemnity is granted by the
court to the party obtaining what he asked for. The court
determines the exact sum. This indemnity is charged back to
the debtor, except if the court decides otherwise.
77 Costs and fees of legal representation. These costs are fixed
depending on the importance of the case, the complexity of
it, the duration and the tasks performed by the lawyer. These
costs are not charged back to the debtor.
77 If a party uses a document that is not in the language of the
legal proceedings, the other party and/or the court can ask
the translation of this document. These translation costs are
not charged back to the debtor.
77 In addition to these costs, any costs for witnesses and/or
experts might also arise.
Enforcement costs
77 Costs of enforcement of a judgment by a bailiff are always
charged back to the debtor. The amount of these costs varies,
according to the number of enforcement actions the bailiff
has to undertake. The enforcement costs will also be very
high if enforcement on debtor’s real estate is decided.
77 Total costs of the enforcement process are difficult to
estimate beforehand and to calculate. This estimation will
be provided on a case-by-case basis, if enforcement actions
should be deemed necessary.
77 If a non-Belgian judgement has to be enforced in Belgium,
a special exequatur procedure has to be initiated before the
competent court in order to obtain permission to enforce this
foreign judgement in Belgium. Once obtained, this decision
has to be notified to the debtor. If the debtor does not
appeal, the permission is final and the foreign judgement can
be enforced in Belgium.
4.4.8 Expected Timeframe
The time frame to get a judgement (enforcement not included) is
on average four months. If there is a dispute and/or appeal, it can
take up to one to several years to get a judgement.
4.4.9 Interests and Costs in the Legal Phase
If a legal action is started, the applied interest rate is the rate
given on the client’s terms and conditions. However, the court
can reduce or cancel the interest laid out by the contract (e.g.
lack of proof of acceptance by the debtor of the creditor’s terms
and conditions of sale). The court may also decide to apply an-other
type of interest to the debtor (the normal legal interest
rate or the rate according to the statute of 02.08.2002 regarding
late payment (being based on the European Directive 2000/35/
CEE). The rate of the legal interest is fixed every year and com-municated
in the Official Belgian Journal in the beginning of the
year. The interest rate of the statute of 02.08.2002 is fixed and
communicated every six months. Each court has its own practice
on the accepted interest rate. On a case-by-case basis, we exam-ine
which rate will be applied (taking into account the practice
of the court).
The creditor can also claim collection costs (in Belgium known as
“penalty clause”). Usually, the penalty clause is laid out in the
contract between parties or in the creditor’s terms and conditions
of sale. If this clause is questioned by the court and/or by the
debtor, the creditor must establish the debtor knew this clause
and agreed to it. If the court considers this not to be proven, the
court can cancel this clause. Even if the acceptance of the clause
is proven, the court can always reduce the percentage of the pen-alty
clause. Each court has its own practice. On a case-by-case
basis, we examine if a penalty clause will be applied and at which
rate (taking into account the practice of the court).
4.5 Enforcement
4.5.1 Enforcement in Debt
The enforcement phase starts as soon as the debtor ignores the
judgement decided by the court. The judgment is considered as
final if the debtor does not lodge any appeal within 30 days from
the date of notification of the judgement. In Belgium we use our
own bailiff network; each bailiff is responsible for their own dis-trict
and cannot enforce the judgement outside their district. It
is the bailiff’s mission to notify the judgement and to handle the
enforcement phase.
Our bailiffs have 3 options to enforce a title:
77 Enforcement in movable goods
77 Enforcement in immovable goods (real estate)
77 Seizures in hand of third parties if possible
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4.5.2 Enforcement in Movable Goods
This is the standard procedure: the bailiff visits the debtor to
seize debtor’s movable goods he can liquidate in favour of the
creditor. The bailiff cannot seize movable goods necessary for the
debtor’s basic daily needs. When the goods are seized, the bailiff
fixes a date of sale. If the debtor did not pay before this date or
an agreed payment plan is not respected, the bailiff takes the
seized goods away to the auction room and sells them in an auc-tion
on the date of sale. Frequently in Belgium, debtors make
partial payments or offer a payment plan in order to avoid the
sale. During the enforcement phase, the seizure is made once,
but several consecutive dates of sale can be fixed on this basis to
put pressure on the debtor if they do not comply with the agreed
payment plan.
4.5.3 Enforcement in Immovable Goods
If the debtor owns real estate and if the movable enforcement is
not successful, we may seize debtor’s real estate and (try to) sell
it. This process is very expensive and is not used very often. A
debtor may be the owner of a property and have other preferen-tial
creditors (who take the priority in case of payment coming
in) and mortgages linked to those properties. It can take time
to receive the required information from the Registration Office
needed to prepare the property for sale.
4.5.4 Expected Timeframe
Ordinary enforcement procedures (based on movable goods)
generally take around 12 months. The timeframe for enforce-ment
on real estate depend very much on the single course of
the case, the court and possible buyers.
4.6 Insolvency Proceedings
4.6.1 General
In Belgium we have 3 main types of insolvencies:
77 Bankruptcy
77 Liquidations
77 Temporary compositions: Law on Continuity of companies.
The insolvencies are validated by the court and the goal of these
procedures is either to face a non-payment situation or to allow
and facilitate the continuity of some companies. With the start of
the proceeding, all individual enforcements are suspended.
4.6.2 Proceedings
Bankruptcy
In Belgium only a debtor with the quality of merchant can be de-clared
bankrupt. A trustee is appointed by the Commercial Court
in the district where the debtor has their place of residence or
registered address (in case of a company). The claim has to be
lodged to the clerk of the Commercial Court within one year from
the date of bankruptcy.
There are 3 types of declaration:
77 Unsecured creditor
77 Preferential creditor
77 With retention of Title: if we want to take some goods back
After verification by the trustee, the claim is accepted or not in
the bankruptcy. The Commercial Court will decide in the case
of any dispute. As soon as the trustee has clarified the debtor’s
assets versus debts, he will be able to confirm to the creditor
whether a dividend can be expected and deliver the document
advising of the recoverability of the debt or not.
In case of a bankruptcy, it is very rare to obtain a dividend for
unsecured debts in Belgium.
Liquidation
Liquidation is also considered as an insolvency procedure when
sought by the debtor wishing to stop their commercial activi-ties.
The main difference between liquidation and bankruptcy is
that the liquidation is always asked for by the debtor. Another
creditor may not request that a debtor goes into liquidation. A
liquidator is appointed by the Commercial Court. The claim has to
be lodged to the liquidator within the delay period noted by the
court, which may vary from case to case.
After verification by the liquidator, the claim is accepted or not.
The Commercial Court will decide in case of a dispute. As soon
as the liquidator has clarified the debtor’s assets versus debts,
he will be able to confirm to the creditor if a dividend can be
expected or not.
In Belgium, it is very rare to obtain a dividend for unsecured
debts.
There are 2 types of declaration:
77 Unsecured creditor
77 Preferential creditor
The Retention of Title can’t be referred to by creditors in case of
liquidation.
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