A company must collect the debts owed by transaction counterparties to continue its business activities.
To carry out debt collection properly, it is vital to take actions at each stage of pre-contracting, contract negotiation, debt management, and debt collection, as opposed to considering measures for the first time when no payments are received. The debt collection team needs to establish a credit management system complying with the company's business flow. Furthermore, during business activities, it is not unusual for disputes over the quality of products and the scope of work to arise with suppliers. Although many disputes lead to indemnification, the issue could lead to responsibility for more than just the indemnity amount.
It is, therefore, essential to investigate situations from a legal perspective to solve disputes effectively. By understanding the legal standpoint and how the dispute might proceed, it is possible to conduct proper negotiation. Further, from a business standpoint, there are, of course, other factors to consider, such as the relationship with the counterparty.
When conflicts exist, and negotiations are at a standstill, or when a debtor refuses to pay despite knowing that you have the right to the payment, proceedings for preservation attachments or filing a case with the court would often solve the issue efficiently instead of continuing negotiations between the parties.
Our experienced attorneys are there to solve issues surrounding debt collection (including establishing a debt management system complying with the company's business flow) and indemnity (not only for contractual disputes but also disputes arising from accidents).
Should you have any enquiries relating to debt collection and indemnity, please do not hesitate to contact us. We can give detailed advice based on your situation and needs.
If we act as your representative, we will use our extensive experience and knowledge in performing debt collection. However, we cannot assure you that we will succeed in collecting the debt. When consulting us, we will explain the collection measures and risks that may be involved and will thoroughly investigate your case.
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