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GCE, international debt collection, 3 keys to optimize your cash collection abroad

International debt collection: 3 keys to optimize your cash collection abroad

Mélanie

You are international trade specialist and you want to secure your sales?

To protect your corporate cash, it is essential to anticipate and prevent the risks of unpaid bills, especially when based on international trade.

Here are some good practices for international debt collection.

 

Evaluate the solvency of your customers before signing a contract or delivering anything

Three complementary tools:

  • Your sales or delivery teams, as well as any of your other business partners may also hold key information to help you assess the solvency of your customers
  • Financial information databases are also useful, but be careful since the data provided can be sometimes already old
  • Tailored field enquiries (credit reports) will give you up-to-date information and will answer specific questions that you have about your prospects or established customers.

 

Frame your business transaction into a proper contract that  anticipates any possible conflict

Write clear and comprehensive terms and conditions that are understandable to all parties.

According to the Head of the Worldwide Debt Collection division at FRANCE CREANCES « The success of international collection procedures requires that the penalty clause, the goods return clause, and the jurisdiction clause, for example, are pre-established in the commercial contract, particularly in the '' litigation '' section ».

Thus, in order to secure your international trade revenue and maximize your cash collection, it is key to choose the right legal instruments wisely, based on the purpose of the transaction and on the country of your customers.

Then, make sure the important documents are signed & propermy filed (contract, general terms and conditions, purchase order, delivery order…).

 

Rely on a team of true experts who can take amicable or legal actions for you, anywhere around the world

To preserve your business relationship with your foreign customers and avoid additional risks of long and costly procedures, outsource your international debt collection to a proven partner who can do that for you.

Each country has its own specificities: legislation, economic context, local practices, language, culture, etc. These numerous variables impact the process to adopt for the efficient collection of your receivables around the globe.

 

Make sure that your partner has, on top of legal & debt collection skills:

  • Experts who speak fluently the language (s) that is (are) concerned, and are aware of the legislation, the habits and customs of the countries in which your debtors are located,
  • A proven network of local partners (debt collection & credit reporting colleagues, lawyers, bailiffs ...) that can quickly act on your most sensitive claims.

 

If you are looking for a personalized solution for a proven and efficient international debt collection service, FRANCE CREANCES will define with you the best approach for your situation. Do not hesitate to contact one of our experts in international debt collection.

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