Having drawn from the expertise of Atradius Collections' local offices, the International Debt Collections Handbook explains the different regulations and procedures for debt collections in Austria.
Atradius Collections maintains a professional collection process, focusing on the relationships between our clients and their debtors at all times. Our team of collection specialists carry out the collection process in-house. We contact debtors both verbally and in writing whilst adhering to federal and state laws.
Atradius Collections always charges interest to debtors calculated from the base rate set by the Austrian National Bank plus 9.2% on a daily basis (see European Directive 2011/7/EU in conjunction with the Austrian trade law paragraph 456). From a cultural point of view, Austrian debtors are used to paying late payment interest, although the actual amount of the interest payment is considered a matter for negotiation between debtors and collectors.
Debt collection costs
Collection costs (‘Inkassokosten’) can be charged according to §1333 Allgemeines Bürgerliches Gesetzbuch (ABGB) – the General Austrian Civil Code – as damage for delay. Austrian cases are dealt with by our German subsidiary, so we apply the same debt collection costs that are charged to German debtors, calculated on the basis of the Rechtsanwaltsvergütungsgesetz (RVG) – the German statutory lawyers’ fees. Atradius Collections will either forward all recovered debt collection costs to our clients to reduce the claim, retain the cost or add them to the success fee. This will depend on the contractual agreement between the client and Atradius Collections.
The Debt Collections Handbook presents a snapshot of Austria's economic situation and covers the following topics:
- Legal procedures
- Required documents
- Insolvency proceedings
- Time frame and outcome
To read more about steps and procedures undertaken in debt collections in Austria: