The process of pursuing money owed to you by customers in another country in exchange for goods or services supplied is known as international debt collection. The first step is to let the international client know that you want to be paid, however, you might need to hire a third-party collection agency to get the money back.
Selecting the finest debt collection age
ncy for your business may be complicated and challenging. In order for you to make an informed choice, we have compiled a list of the top 15 debt collection agencies.
The Recovery of Debts Due to Banks and Financial Institutions (RDDBFI) Act was passed in 1993, resulting in the establishment of Debt Recovery Tribunals (DRT) to help banks and other financial institutions recover debts. To the DRT with jurisdiction over the area in which they conduct business, banks must submit an application and the necessary fees.
MNS Credit Management Group Private Limited is a Private incorporated on 15 March 1996. It is classified as a Non-govt company and is registered at the Registrar of Companies, Delhi. Its authorized share capital is Rs. 100,000,000 and its paid-up capital is Rs. 55,167,000. It is involved in OTHER BUSINESS ACTIVITIES
A lot of risks are involved in international trade, which leads to uncertainty regarding payments between the exporter (seller) and the importer (foreign buyer) and makes it challenging to collect foreign debts.
As a result, exporters urgently need to outsource such challenging debt collection to a recognized "Debt Collection Agency" (DCA).
