COFACE EMIRATES SERVICES B2B COLLECTIONS 1. “DEBT COLLECTION PROSPERS ON THE BACK OF ECONOMIC...

COFACE EMIRATES SERVICESB2B COLLECTIONS

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“DEBT COLLECTION PROSPERS ON THE BACK OF ECONOMIC

TURMOIL”

Number of Debt Collections Cases in UAE

Origination of the Cases Received

Most Affected Industries

IT:Small operations Easy to close or openTend to close operations and leave the country

Construction:The market activity has slowed (no new projects)No fundsUnable to collect money from their customers

Debtor Response

Do you know who I am!

Ma Fe Masari! (There is no

Money)

My clients are not paying me, so how

can I pay you!

Will Pay Next Week,

Inshallah!

Strategy

Dont’s:Threaten the debtorAssume that if it is a large company that they will pay Jump into legal action

Do’s:Understand the current financial situationTry to reach an agreement that will satisfy both parties

Advised Agreement

Payment planPrearranged payment plan set up over a specified period

SettlementPrearranged discounted amount

Return the goodsSome or all of the good are returned to the creditor

Issues

No Credit Bureau- No centralized Information

No clear bankruptcy law

Owners leaving the country

Severe punishment for bounced checks

Limited action on government entities

Experience

60-years accounts receivable experience

Direct presence in 67 countries

400 Million USD collected annually

A worldwide network of +/- 1000 lawyers and bailiffs

Experience of handling more than 250,000 B2B files annually

Geographic Location

Country laws and regulations are respected

Debtor is contacted in his/her language

Coface will respect cultural diversity

Coface Commitments

First action within 24 hours of receiving the file

Provide a pre-legal diagnosis at the end of the amicable procedure

Online access in order to monitor the debt collection process

No recovery no fee, commission is based on amount recovered

Thank you

Q & A

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