WORLDWIDE DEBT COLLECTION TRADE TRANSPORT LOGISTICS INSURANCE REINSURANCE
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1 WORLDWIDE DEBT COLLECTION TRADE TRANSPORT LOGISTICS INSURANCE REINSURANCE International Encashment of Claims Consulting and Management on Debt Collection and Encashment Strategies Debt Loss Prevention Advice Appointments as Debt Collection Agents Salvage and Emergency Sales Debt Portfolios and Transfers Insurance and Reinsurance Recoverables Run-Offs
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3 CONTENTS WHY RECOVER...5 CONVENTIONAL DEBT COLLECTION...6 DEBT COLLECTION BY ZASS OUR EXPERT KNOWLEDGE OUR FEES OUR PROCEDURE WORKING WITH THE CLIENT GUARANTEE OF SUCCESS
4 Debt Collection Our philosophy is to provide fast monetary recoveries for our clients through proactive tracing and, where adequate, blocking of assets, hot pursue of timely debt payments and where unavoidable, commercial solution for outstanding debt. All of this, combined with utmost transparency in the handling of clients collection claims gives our customers full information and control at every stage of the actual collection process.
5 WHY RECOVER The omission of payment has unfortunately become a more frequent part of daily business life worldwide and thus has become one of the hot topics of today s economy. Unsettled debts significantly reduce the prospects of profit and it is not uncommon that they jeopardise the existence of whole companies. As it is not always possible to ensure claims beforehand, almost every company is confronted with these business risks. But what do you do, if Your business partner is not paying even though the claim is due? Your business partner is not paying even though summary proceedings have started? Your business partner is not making the payment even though the claim has come into force? All attempts of enforcement into your business partner s fortune have been fruitless? Your business partner has gone into insolvency or has become unable to pay in other ways? Or your business partner cannot be found any more? Significant efforts are then necessary to minimise the impending omissions of payment. In practice, the so-called Debt Collection proceeding has developed the out of court collection of claims. This concerns an amicable agreement with the debtor about the fulfilment of his duties on which we place particular emphasis! For this, technical expertise, persistence and instinct are needed. 5
6 CONVENTIONAL DEBT COLLECTION Companies generally try to sort out the settlement of outstanding payments by themselves with numerous reminders and tireless demands for payment which is often at great expense of personnel and other additional costs. Sometimes the debtor does finally show some reason but these kinds of attempts remain mostly unsuccessful, because the business partner does not want to or just cannot pay. Lawyer and management consultants are then mostly entrusted to try to legally enforce the claim.their fees often make the costs shoot up quickly. At the end this is sometimes successful but often the company is left empty handed, also having to bear considerable fees from these endeavours, next to the actual financial loss. DEBT COLLECTION BY ZASS ZASS International offers an alternative to this financially risky procedure. As a client of ZASS International you reduce your costs of the OPEN/REMAINING liabilities to a minimum and nonetheless you have highly qualified employees at your disposal, who have extensive economic, financial and legal experience and who have command of the methods of conflict resolution. 1. OUR EXPERT KNOWLEDGE Since the foundation of ZASS International GmbH in 1997, our key company has acquired an official Debt Collection Permit from the District Court in Hamburg/Germany. This permission is given by German courts for legal reasons for the collection of claims out of court. It is only given if the necessary reliability and personal suitability as well as sufficient expertise of the subject area plus sufficient capitalisation and a proper liability insurance cover is proven. We are subject to ongoing state control(s) as the courts of jurisdictions take on the superpervision of Debt Collection firms. The team of ZASS International worldwide consists of specially trained lawyers, arbitrators and mediators who possess longstanding experience in claims management. Their experience consists of profound theo- 6
7 retical knowledge of international company and trade laws as well as practical activity in Germany s and other countries commercial courts, international arbitration tribunals and mediation techniques. Additionally, we also have financial and economic experts at our disposal. To also manage Debt Collection more effectively abroad, we work closely together with our many regional offices as well as the partners of the ZELLER ASSOCIATES Group (with offices in Germany, UK, Russia, Latin America, the Near East / Middle East as well as Asia). In that way we have access to additional regional connections and through these again to a worldwide network of experienced external specialists who support us if needed. 2. OUR FEES ZASS International works on basis no cure no pay. In that way we do not burden our clients from the start with our own expenditure, but charge a fee only after our efforts, in line with a previously arranged percentage of the acquired proceeds, have become successful. In practice 20% of the successfully collected debt has developed as a general commission rate (in particular cases this might differ). If we are not successful, we naturally do not receive any remuneration or other reimbursement of our expenses. This applies independently of the duration of the process and of the extent of our service. In case that external third parties (e.g. information data files, intelligence offices or lawyers) have to be retained, we always come to an agreement with our clients first and get their express consent. All of these expenses and any related external costs are then carried directly by the client according to limits being defines in advance. 3. OUR PROCEDURE Particular collection strategies and procedures are carefully considered on an individual basis and are adapted according to the circumstances of the specific case. Generally, the following basic structural procedure has been derived from our previous experience: Checking and reviewing of documents After receiving the necessary documents on which the claim is based (contracts, records, proof of payment and delivery, court judgements, decisions by authorities etc.) we check the reason and the size of the claim as well as the due date of payment or any other payment commitment that may have arisen. 7
8 Investigating the debtor All publicly accessible data of the debtor is researched in any case. If there are doubts about the ability to pay and/or about the existence of the debtor in general, further external sources of information are extensively researched (i. a. extracts of the register of companies, information from data basis for economic information). The external costs that are related to this depending on the extent and effort of the research are generally carried by the client; but they are only triggered and released with the client s prior consent. Creation and dispatch of dunning letters The debtor is normally asked in writing (via letter, fax or mail or, if required, also by registered mail) with a defined deadline and with the threat of commencing judicial proceedings to pursue the settlement of the debt owed to our client. Experience has shown that this first activity by the use of an emphatic, professional specialist firm already increases the pressure on the debtor in such a way that he often agrees to pay at this early stage or at least to make otherwise factually important statements. Should the dunning letter not lead to success, we start to establish personal contact with the debtor. Personal contact with the debtor In such cases it is time to confront the debtor personally usually via telephone. Our employees react flexibly, if the opposite side for example employs delaying tactics. We permanently increase the pressure on the debtor. Our activity and our persistence then often lead to constructive negotiations with the debtor. The personal contact in general very often increases the willingness to settle the conflict. The experience of our employees in the area of conflict resolution, mediation and arbitration pays off especially in these situations. In some cases it makes sense to agree on a payment in parts or instalments a proceeding which we of course discuss and arrange with the client beforehand. Occasionally, however, the facts of the matter are so complex that a personal meeting with the debtor is necessary for further discussions. In such cases we look after the interests of our clients and also during out-of-court negotiations, if required, we confer with the possible legal adviser of the debtor, as the latter is often consulting with such persons in advanced stages. Unfortunately, even those partly quite lengthy efforts sometimes do not lead to 8
9 success, namely the payment of the debts. Legal assertions and entrusting external power then often become unavoidable. When the place of residence of the debtor is based in Germany we can apply for court payment and enforcement orders in the domestic courts directly from our Hamburg office. Only the court fees will occur, which will be calculated in advance for the client. Completion of our efforts Our efforts end when the debtor has paid. The proceeds minus our fees will then be immediately transferred to you. Under today s economic circumstances, however, our endeavours or the efforts of entrusted lawyers cannot always lead to the desired success despite all commitment. But our firm s philosophy is to use all available means and possibilities to collect the outstanding claims that you are entitled to. In addition, we see it as our duty to give you realistic assessments of the possible further course of proceedings and to inform you about prospects and risks at every stage of our efforts. Should the proceedings develop in a negative way we would inform you about the low prospects of success and draw the consequences. Thus, if we do not deem it justified to continue our commissioned relationship due to factual, legal or commercial reasons, we would take the liberty to suggest to you to close the case. The motives for this can be multi-layered and -facetted and are reached from factual obstacles such as the dissolution of the debtor or demanding and costly proceedings in some countries to legal viewpoints such as insolvency of the debtor or inadequate documentation of the claims. 4. WORKING WITH THE CLIENT Our business practice is strictly orientated towards our client s needs. ZASS International works with absolute transparency during the whole course of dealing with a case. Our client is not only always informed about the current state of our efforts but he is also involved in the essential decisions about the further course of action. We are at your disposal full-time so that we are able to react at any time to courses of proceedings that may change at short notice or because of unexpected or changed material facts. The close cooperation within our team guarantees that every case benefits from the complete spectrum of knowledge and experience of all employees. 9
10 t, In that way, we have achieved successful results that are above average for our clients and of course also for us! Our employees, next to their experience, their technical and legal qualifications, also have a very good knowledge of the languages of commerce that are used worldwide. 5. GUARANTEE OF SUCCESS Realistically, in our business there can be no strict guarantee of success. The individual cases are generally too complex and there are too many incalculabilities and uncertain factors that influence the course of the proceedings. Experience tells us that even very promising cases had to be closed unexpectedly and completely hopeless claims have still in the end been recovered. We can, however, give one guarantee: we, ZASS International, do as much as we can for our clients interests and in all cases we focus our work towards success! After all, a fundamental principle of our company s philosophy is that our performance should only be paid, for if we have been successful for our client. But you as a client can also contribute to the success of a recovery of the claim by getting us involved as far as possible, already at a very early stage of the claims management so that the debtor does not go astray before a claim has been efficiently brought forward against him with the necessary pressure. In this sense, there are some helpful rules that can be derived from our experience: The earlier you make an effort to claim back outstanding liabilities, the higher the prospects of success! The better the claim is documented, the more promising are our efforts! The more information we receive about outstanding payments, background facts and about the debtor, the better debts can be targeted and pursued! Therefore, we also rely on the help of our clients at every stage. We look forward to being at your service! 10
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12 WORLDWIDE DEBT COLLECTION Please contact our head office directly IN EUROPE ZASS International GmbH Kreuzfahrtterminal Van-der-Smissen-Str Hamburg Germany Phone: Fax: Mobile: hamburg@zass-international.com Dr. Harald Zeller Mrs Bente Hammann Mrs Eva-Maria Braje Copyright 2015 ZASS International Beirut Buenos Aires Hamburg Hong Kong Limassol London Moscow Shanghai
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