Debt collection service in Vietnam – terms and conditions

debt collection in Vietnam

A – PROCESS OF DEBT COLLECTION SERVICE IN VIETNAM

Step 1: Receipt of requests

– To get requests and documents from Clients;

– To go over the documents provided by Clients;

– To discuss with Clients regarding the provided information, documents and evidence;

– To give advice to Clients on the status and solution to debt recovery;

– To verify the debtor’s financial ability/debt payment capability.

Step II: Agreement

– To enter into a legal service agreement.

– To sign a Power of Attorney.

Step III: Implementation.

– To set out strategies;

– To perform the rights and take steps for debt recovery in accordance with the laws;

– To utilize special techniques in the performance of debt collection service in Vietnam;

– To update and report to clients.

Step IV: Delivery of collection results

– To deliver debt collection results;

– To end the service agreement.

B – CONDITIONS FOR PERFORMANCE OF DEBT COLLECTION SERVICE IN VIETNAM

– Valid debts.

– Cases not accepted to deal with are as follows:

  • Debtors are not capable of paying debts at the present and in the future.
  • Debtors died and have no assets left.
  • Debt recovery/collection is likely to result in potential losses to Clients and ALB.
  • Clients intentionally provides seriously wrong information.
  • Actual costs for debt collection exceed 60% of total debts expected to collect or recover (unless otherwise required by clients).

C – SCOPE OF WORK

1. To give advice on debt collection solutions.

2. To supervise the debt collection.

3. To complete a dossier for debt collection.

4. To get authorization (POA) from Clients in direct or indirect way of collection.

5. To represent Clients in Court or Arbitration Center.

6. To get complete authorization from Clients to decide how to collect or recover the debts.

7. To collaborate with a third party to collect or recover the debts.

8. To collect, analyze and report on assessment of debt recovery capability.

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9. To alert the risks.

10. Other unofficial special legal services.

D – CONFIDENTIALITY

ALB & Partners Law Firm takes responsibility for keeping confidential all information and documents obtained during, before or after performance of debt collection/recovery service except otherwise agreed by clients or for their obvious benefits, or required by an effective Decision of the Police, that of the People’s Procuracy, or that of the Court and judgment enforcement Authority of Vietnam.

E – QUALITY ASSURANCE

This kind of service is one of ALB’s strengths, and it is our development strategy to become the leading firm in the market providing debt collection service in Vietnam. Our core values in service quality are clearly defined to always ensure two prerequisites: “Efficiency” and “Safety”.

– With respect to “Efficiency” in service packages provided by ALB, there are 2 specific standards: timeliness and fulfillment of clients’ expectations.

– Regarding “Safety”, which is strictly observed by ALB in order to help Clients feel secured in using our legal services, and it is an important factor leading to ALB’s sustainable development.

F – SERVICE FEE OF DEBT COLLECTION/RECOVERY

Our service fee for debt collection/recovery is primarily based on the following specific criteria:

1. Total value of receivable debts.

2. Complexity of the case.

3. Personnel dealing with the case.

4. Locations to settle the case.

5. Debtor’s ability to pay debts.

6. Main methods.

7. Time of completion.

8. Other factors.

H – GENERAL PROVISIONS OF DEBT COLLECTION SERVICE IN VIETNAM

The above-mentioned terms and conditions are solely for reference to ALB’s clients and business partners, whose obligations shall not automatically arise under any circumstances.

For further information, please contact us directly via email: info@alb-partners.com; Phone: (+84) 907 008 722 (Mr. Steven); or visit our office at the address: Unit 304, No. 32 Xo Viet Nghe Tinh Street, Ward 19, Binh Thanh District, Ho Chi Minh City.

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