Having drawn from the expertise of the Atradius Collections' local offices, the International Debt Collections Handbook explains the different stages, regulations and procedures for India.
We have been actively involved in amicable debt collection for the last 20 years. We now have a local team to collect in India. We follow proven principles of negotiations. By keeping in close contact with the debtor, we are able to evaluate genuine cash flow problems and stalling excuses for non-payment. Field visits and face-to-face meetings with the debtors are an integral part of our collection initiative.
It is not customary for debtors in India to pay collection costs, especially in recoveries in the amicable phase. Thus, in pre-legal recoveries, collection costs are not payable by the debtors. However, while passing a judgment, Indian courts may order the debtors to reimburse the legal / collection costs to creditors.
The Debt Collections Handbook presents a snapshot of India's local economic situation for and covers the following topics:
- Types of companies
- Accepted and most common payment methods
- Safeguarding measures
- Retention of title
- Insolvency Procedures
To read more about steps and procedures undertaken in the field of debt collection: