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.