What is international debt
1. The concept of international debt
International debt, also known as foreign debt, refers to all debts with contractual repayment obligations that have been allocated and yet to be repaid, borne by residents of a country to non-residents at any given time, including principal that needs to be repaid. deposit and interest to be paid.
Foreign debt (commercial account) collection is called "International Debt Collection" in English, which is translated as "international commercial debt collection" or "overseas commercial debt collection". Commercial debt collection cannot simply be understood as debt collection. International commercial debt collection refers to the legal conduct of commercial debt collection services through contact and cooperation with overseas commercial debt collection organizations, law firms, detective companies and other institutions, reducing corporate risk rates and bad debt rates, and preventing and circumventing corporate risks due to the use of credit sales. credit risk posed by the method.
2. Other related knowledge on international debt
Commercial debt collection The credit industry is an important branch of the credit industry. At present, enterprises are facing serious problems in collecting commercial debts. Especially after my country's accession to the WTO, the problem of commercial debts has become more prominent, seriously affecting the market competitiveness of enterprises. At the beginning, the State Economic and Trade Commission, the Ministry of Public Security and the State Administration for Industry and Commerce twice banned commercial debt collection activities because some units and individuals engaged in this business at that time did not act in accordance with the rules of the industry, and thus repeatedly committed serious violations of the law. Discipline and criminal offenses. Today in China, only law firms or lawyers and other legal institutions or individuals can engage in this business.
Credit management branches such as corporate credit investigation, credit management consulting, and credit management training have developed to varying degrees in our country, especially corporate credit investigation and credit rating after ten years of development. After years of development, it has formed a considerable scale in China and cultivated a number of leading companies in the industry. With the development of China's social credit system, credit management expertise is becoming increasingly perfect. However, as an important branch of credit management, the commercial debt collection industry not only failed to develop together with other credit management branches, but also encountered policy restricted areas. Social credit without debt collection industryThe system is an incomplete socialized credit system. The key to the problem is how the commercial debt collection industry itself develops and how the government regulates and manages it.
In real life, the large number of overdue accounts receivable and the cumbersome judicial procedures, as well as the "destructive" effect on commercial relationships, have also led to the existence of a commercial debt collection market. And it is expanding.
The development of the debt collection industry is a need for the development of productivity and embodies the requirements of the "Three Represents". As the transmitter and middleman of debt information, modern commercial debt collection can coordinate commercial conflicts and reduce transaction costs. The modern commercial debt collection industry with strict management and standardized operation will not only not disrupt social order, but also be an essential lubricant for the operation of modern commercial economy.
The above knowledge is the editor's answer to the question "What is international debt". If readers need legal help, they are welcome to go to the Legal Savior Network for legal consultation.