How to recover international debt
The first is to rely on good faith negotiation between both parties by making phone calls, sending faxes, etc.;
The second is to entrust a credit management company or a local law firm to do it;
The third is through arbitration, relying on expert rulings to form a binding ruling; the fourth is through litigation. Each of these methods has its own advantages and disadvantages, but they have completely different meanings in actual operation. It is very difficult for the company to recover on its own. Generally, it can only be done by calling or sending fax, and it is difficult to guarantee the reception and reply. Although the legal approach has strong enforcement effect, it is very difficult to implement due to the long time and high cost, coupled with the huge differences in the legal systems of various countries, requiring international judicial cooperation. Arbitration is a relatively safe way to recover. Since our country has addedAfter joining the New York Convention, more than 140 countries and regions are members of the Convention. Our country's arbitral awards can be enforced among member states. Relatively speaking, the efficiency of implementation is relatively high. Currently, there are three to four hundred cases handled through the arbitration committee every year, with the maximum amount involved reaching several hundred million yuan. Arbitration is a one-time final and can be arbitrated domestically and then enforced by foreign courts. For example, Shenzhen has an international arbitration branch. Disputes involving domestic enterprises can be arbitrated in Shenzhen, and then the arbitration institution applies to the courts of the other country and region for enforcement, and there will be no review or review.
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