B2B DEBT COLLECTION IN RAS AL-KHAIMAH

Ras al-Khaimah is one of the seven states in UAE, and therefore there are many companies in that region. B2B debt collection has been one of the most crucial issues for many companies in the Ras al-Khaimah region. For the last 10 years, our lawyers in CIS DRS have observed that more and more companies tend to struggle with debt collection and recovery.

In general, debt collection and recovery may seem like an easy task to do, especially in the B2B sphere. Practically speaking, it is indeed not that complicated, yet there are some specifics, which are better to be handled by people who have special knowledge and experience in this field. Typically, the debts can be recovered either with the help of court proceedings or with the assistance of a debt collection agency. However, in regions like Ras al-Khaimah, there are no specialized courts that would assist in financial litigation. This matter is usually handled by civil courts, and even in those cases, special legal counsel is needed. On the other hand, companies that work in the B2B sphere prefer to outsource the debt collection agency to try to settle the issue amicably.

CIS DRS has been providing its services in the field of debt collection and recovery in the UAE for a long time. That includes debt collection in the Ras al-Khaimah region as well. Our lawyers have knowledge of local legislation and experience in conducting negotiations with local representatives of companies in the UAE.

Over the years of practice we have developed a practical method of debt collection for our clients worldwide. Of course, for each specific request the method could be modified. In general, it narrows down to the following steps.

As our experience shows, debt collection is more beneficial than it is thought for B2B companies in the Ras al-Khaimah. Firstly, it helps the company to concentrate on other important tasks, while the debt collection agency takes care of the collection of late payments. Secondly, it is faster than court proceedings. In practice, court proceedings require extra time and resources, whereas debt collectors are able to settle the matter within several days. Lastly, debt collectors have special knowledge and expertise so there is no need to hire additional employees or train staff.

In CIS DRS we understand how important debt collection is for our clients. That is why we are always trying our best to provide assistance and excellent client service. For more information, please, do not hesitate to contact us via the form below.