Debt Collections Handbook Belgium 2018

Debt Collection Handbook

  • België
  • Landbouw,
  • Automotive/Transport,

24 sep 2018

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 Belgium.

Amicable collections

General information

 

 

Handbook Report Page - Amicable Phase

 

 

Atradius Collections maintains a professional collection process. We always try to safeguard the relationship between our clients and their debtors. Our team of collection specialists carry out the collection process in-house, contacting the debtors both verbally and in writing, whilst adhering to applicable Belgian laws. When there is a dispute, we aim to reach an amicable solution between the creditor and the debtor by analysing all contractual documents (e.g. signed contracts, orders, confirmations, invoices and delivery notes, as well as previously agreed terms and conditions). All investigations are completed with the assistance and agreement of our legal team.

Interest

In the amicable phase, Atradius Collections always charges interest to the debtor. The applied default rate is 12%.

Debt collection costs

In the amicable phase, we charge two types of collection costs:

  • A fixed amount of EUR 40 according to section 6 of the statute of 2nd August 2002 on late payment, regardless of the amount of the debt.
  • A penalty clause of 15% of the principal amount of the claim submitted to Atradius Collections. The interest and cost rates we are using are in line with the average rate applied by our clients. 

At the request of the client, we can adapt the rate we are using according to their terms and conditions. From a cultural point of view, the recovery of late payment interest and collection costs is quite difficult. These penalties for late payment can be considered as a matter of negotiation between the debtor and the client.

The Debt Collections Handbook presents a snapshot of Belgium's economic situation and covers the following topic:

  • Accepted and most common payment methods
  • Types of companies
  • Retention of title
  • Legal procedures & legal system
  • Enforcement in debt, movable and immovable property
  • Insolvency proceedings

To read more about steps and procedures undertaken in debt collections in Belgium:

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Download Debt Collections Handbook Belgium now!

Disclaimer

De informatie in dit document wordt uitsluitend ter algemene informatie verstrekt en hieraan kunnen geen rechten worden ontleend. De toepasselijke voorwaarden zijn te vinden in de polis of de betreffende product- of dienstverleningsovereenkomst. Niets in dit document mag worden opgevat als strekkende tot enigerlei recht, verplichting, verantwoordelijkheid of advies aan de zijde van Atradius en derhalve ook niet tot enigerlei verplichting tot het uitvoeren van due diligence op afnemers of ten behoeve van uzelf. Indien Atradius due diligence op een afnemer uitvoert, gebeurt dit ten behoeve van haar eigen acceptatiedoeleinden en niet ten behoeve van de verzekeringsnemer of enige andere persoon. Daarnaast zijn noch Atradius noch enige aan haar verbonden ondernemingen, deelnemingen of dochterondernemingen aansprakelijk voor welke directe, indirecte, speciale, incidentele of gevolgschade dan ook voortvloeiende uit het gebruik van de in dit document opgenomen informatie.