1.1 Call the debtor to inquire why your invoice has not been charged yet. Provide a reminder instantly In your reminder, provide a clear description of the invoice. Also, mention in this warning, a payment period of a fixed number of days
2.1 Our French debt recovery experts have vast experience and knowledge of the Monaco rules and regulations. Additionally, they are fully conscious of business traditions and culture, which makes it easier for your Monacan debtor to get to pay quickly.
3.1 Our attorneys know both the language and English, so they can easily overcome the language barriers.
4.1 Our business debt recovery strategy is customized to every single case, and we provide tailored advice.
5.1 We will always offer our honest advice on the likelihood that your debt recovery will be successful. It is vital to us to put your needs first; we are endeavoring to provide you with your choices and guidance on the best route to take. It is clear to see how we are upholding our core values of honesty and justice.
6.1 The debt collection process can be divided up into two phases in Monaco. Selection takes place during the extrajudicial process, without the intervention of the Court. We do include the Court during the legal process in order to make the Monacan debtor pay.
Because we are a debt collection firm, we are able to assist you in both processes. Many issues are resolved in Monaco during the extrajudicial process, with no interference by the Court.
7. EXTRAJUDICIAL DEBT COLLECTION
7.1 In theory we often continue with the extrajudicial step of the debt collection cycle. We are trying to prevent Court interference at this point, as this can be expensive. We'll call your debtor in Monaco to seek payment.
7.2 For specific cases, we'll also engage with your Monacan debtor in a face-to-face chat. If the debtor fails to pay within a specified period of time we will launch legal proceedings on your order. The declaration of legal proceedings also persuades the customer to pay.
8.1 If your Monacan debtor refuses to pay during the extrajudicial process we can go to the Court in Monaco after negotiation with you.
We will always give you preliminary details about the likelihood of success in your debt recovery case.
We will also remind you of the potential costs in advance, and will only continue with your permission.
In the case of an uncontested dispute between two parties located in EU Member States (except Denmark)
In your situation, the prosecutor who manages the case will decide whether this kind of action is acceptable.
The creditor usually fills out a standard form for EU Order for Payment procedures and submits this to the Tribunal.
Instead, the Court issues a Local Transaction Notice. The debtor then has 30 days to decide whether they object to the charge.
If no notice is obtained within the 30-day span, you can require the Court to finalize the payment order (called a "declaration of enforceability"). This decision is true and enforceable and is recognized in any Member State (except Denmark).
The EU Payment Order is never appropriate for contested issues (so not in situations where there is a disagreement over the invoice).
The benefit of this process is flexibility and low cost (some Member States don't even impose a court fee), but the drawback is that if it gets challenged, the case stops, and if the claimant wants to continue, a regular civil action will have to be launched.
- Contact your customer and demand why no payment has been and when exactly it will be.
Always request the payment copy sent to you.
- Are you not able to solve the problem with your customer? Send them a certified letter requesting immediate payment.
- Be conscious that with ambiguous payment terms or arguments, your Monacan debtor may try to gain additional time.
Persevere, be direct and never postpone.
- In Monaco, a payment period of three to seven days is normal
Our Monacan debt collection experts have comprehensive experience and perspective of Monacan laws and policies.
Therefore they are perfectly aware of Monaco trading values and traditions.
Which makes it easier for your Monacan debtor to quickly make payments.
Contact Us and Get our comprehensive article about how to collect a debt in Monaco, using the amicable and legal options. This is best debt collection guide on Monaco your will ever find.
Because we can start collecting today. Our technology enables us to give you best in class collection services so we can locate the individual debtor quickly, and get you paid today.
We follow your instructions at all times and ensure regular communication with you via collection reports, recommendations regarding debtor payments, payment plans and, where necessary, repossession and Court proceedings.
We have prepared for you a comprehensive article about how the debt collection process works in Monaco.
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