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Frustrated Goods – Let us help you

Frustrated Goods – Let us help you

Trading internationally or domestically will at some point leave you with a customer who cannot pay or cannot take delivery of the goods which are in transit.

Even if you have a banking instrument in place, should this not have been completed correctly or you have agreed to any amendments you could be left with a customer who does not want your goods and your goods left at a port incurring daily demurrage charges with no buyer.

Over the years FCI and our Management have acted in many cases of Government Resale concerning Political Risk Insurance Projects & Private Export Defaults.  As a leading Global Debt Collection Agency we have over 6000 clients in every business arena possible, in every global trading area imaginable.

First Collect International being one of the leading global debt collection agencies, will use its vast contacts to find a local buyer for your goods, whatever they may be, however tailored they may be for a particular importer or market.

 

  • We will deal with all customs issues and shipping agents.
  • We will resolve problems of demurrage charges and where possible negotiate a substantial discount.
  • We will find a local buyer for the goods, eliminating further costs and expense of re shipping the goods to another port.
  • Where possible we will also make a claim locally against the default buyer for losses and damage incurred to the supplier.

It is important that as an exporter you act very quickly as demurrage charges etc., can escalate at a frightening pace. As soon as you are aware of a buyer not being able to take delivery of the goods, please contact us at once.

Some examples of asset disposal projects dealt with by our staff over the years;

Resale of a Mountain Range of Goats

  • Abattoir’s in the Middle East
  • Plastics Processing Plants
  • Hovercraft
  • Train Engines
  • Military Bagpipes
  • Military Hats
  • Car Fleets
  • Graveyards in South America
  • Luxury Flats

 

 

For more information contact:

 

Neil Perkins

First Collect International Ltd

34-46 High Road

London

E18 2TX

United Kingdom

00 44 208 532 9637

info@firstcollect.com

 

 

 

When a Creditor Needs to Collect Debt in Spain

Debt collection is regulated in Spain and other countries in Europe, placing curbs on the ways the collectors can deal with the debtors. Generally, the regulations place strict limitations on the time when the collection calls can be made and their frequency.

Law in Spain allows a creditor to send a claim for payment if the customer does not pay. The claim may include an order confirmation, a bill and an invoice. The general terms and conditions must be communicated to the customer in the correct manner. Moreover, the terms must conform to statutory requirements. If the customer fails to pay within the term for payment, the creditor may demand the payment.

It is important for creditors to be tenacious, clear and fast. One of the strategies debtors use to avoid making payment is to try to gain time with vague arrangements for payment or disputes. The language used in the correspondence must be very clear to avoid such issues.

If the debtors do not pay even after a formal demand, the creditors can bring in the professional collectors. It makes more sense if the creditor is from a country outside of Spain. The collectors’ employees will have command of Spanish which they can use in fruitful discussion with the debtors. Moreover, they can also be expected to be well up on Spanish laws, regulations and culture.

Knowledge of local laws and culture is imperative for a collector or creditor; else they stand the risk of getting sued themselves. Spanish law gives priority to protection of debtors. If they cross the limits set by law, the debtor can always take advantage of it and take them to court. A professional collector who is well-versed in Spanish laws would know how to deal with a debtor effectively while keeping to the law.

In case telephonic conversations and the correspondence fails to pursue the debtors to repay, professional debt recovery services in Spain can initiate legal proceedings. Spanish law is complex and there are several ways to bring legal action – Proceso monitorio, Jucio Verbal, Jucio Ordinario, Jucio cambiario among others.

Professional collectors maintain a team of legal experts, unlike businesses, which lack such skills and resources, making collection harder for them. It does not come as surprising that most creditors prefer to transfer the debt account to collectors now.