AMSTERDAM, March 29, 2011 /PRNewswire/ -- For a first, the International Debt Collections Handbook includes dedicated reports on China and Hong Kong. The fourth edition has been released today by Atradius Collections.
The International Debt Collections Handbook has established itself as an essential tool for businesses making decisions on international collections, as well as for any employee working in credit management. It is written by experts in country-specific debt collection procedures and legislation. Their expertise is based on years of experience and collecting internationally for Atradius Collections. In total the handbook includes 28 countries and covers the different stages of amicable settlement, financial regulations around collections, legal proceedings and insolvency procedures.
The latest edition puts a new focus on Asia, highlighting many essential country-specific facts about Chinese debt collections. A regulation from the 19th century makes running a debt collects business in the People's Republic of China not yet officially allowed. Only lawyers or authorized persons can carry out collections activities or business locally. Therefore, many companies choose to collect debt in China through a collections agency with operations in Hong Kong.
In Hong Kong, under the 'One country, two systems' principle, its Common Law system which was inherited from the UK remains valid. Debt Collections businesses are therefore legal. "International clients needing to collect from Chinese debtors will find it a practical solution to seek support from a Hong Kong office," says Tony Au regional manager of Atradius Collections Hong Kong office. "Hong Kong offers the benefit of proximity to Chinese culture and mentality. Next to English, Hong Kong also has Chinese as a legal language. This makes it easy for all parties involved: collection agencies speak Chinese as well as are able to serve international clients in English, increasing the chances of successful collections."
More findings around collections in China, Hong Kong and 26 other countries throughout Europe and the Americas can be found in the International Debt Collections Handbook available for downloading at http://www.atradiuscollections.com.
About Atradius Collections:
Atradius Collections, a business unit of Atradius Group, provides efficient, quick and flexible solution to recover domestic and international trade debts. With over 400 staff in 20 offices and an extensive network of collections specialists and lawyers worldwide, Atradius Collections serves more than 12,000 customers and handles, on average, 100,000 cases a year. Over 85 years of global credit management industry experience, uniquely positions Atradius Collections as a worldwide leader in business-to-business debt collections. Please visit http://www.atradiuscollections.com for more information.
SOURCE Atradius N.V.