34-Points to Note on Overseas Lawsuits
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Introduction of Credit Management for Overseas Trade

36 Things You Need to Know About Credit Management for Overseas Trade

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34. Points to Note on Overseas Lawsuits

There are two points to be aware of when filing a lawsuit abroad.

 

  1. Investigate the existence of assets
  2. Estimate the time and cost of the entire lawsuit

 

Companies that have never experienced debt recovery in a lawsuit tend to vaguely think that “winning a lawsuit = recovery”. First, the other party may make an appeal. Even if the other party makes a final decision without appealing, there are many cases where it cannot be recovered.

 

By losing the case, unless the other party gives up and offers a settlement or makes a voluntary payment, there is no alternative but to realize recovery by enforcement.

 

At the same time, it is the existence of the other party's assets that they notice while trying to commence enforcement. The assets to be enforced must be designated by the creditor. At that time, it's too late to start an asset survey. Malicious debtors may transfer or conceal the assets at the time they are being sued. It is not too late to decide the pros and cons of the lawsuit after confirming the whereabouts of the assets.

 

It is also important to estimate the cost and time involved in the lawsuit. Depending on the amount of debt, there is not much possibility that the cost will end up falling.

 

Under these circumstances, it is important to remember, translation of documents and interpretation costs in court. It is surprisingly not known, that the cost of translation and interpretation accounts for a considerable proportion of foreign lawsuits. Given these costs and effort, it is not uncommon to settle for the conclusion that it is better not to sue.

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【PDF】Introduction of Credit Management for Overseas Trade

Introduction of Credit Management for Overseas Trade

36 Things You Need to Know About Credit Management for Overseas Trade

This ebook was created as a resource for those who have trouble with diverse trading or want to learn Credit Management in a rational.

 

Chapter (Excerpt)

  • Major Differences Between International and Domestic Transactions 
  • Trade Reference
  • Bank Reference
  • Collection Agency
  • Reasons Behind Difficulty in Recovering Delayed Debts
  • Mistakes in International Transactions Where Japanese Companies are Prone to Fail
  • Customer Analysis ~ 5 C's of Credit
  • Dangerous Signs
  • Five Principles of Debt Collection