The “Debt Collection” sections offer articles about the practices, rules and service providers for debt collection in the country.
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For a peace of mind in good times and bad, trade credit insurance prevails as one of the most important tools to facilitate and secure domestic and export commercial transactions, says Mr Karim A Nasrallah of The Lebanese Credit Insurer.
As stipulated under Article 2472(3) of the Ethiopian Civil Code, in cases where the sum lent exceeds 500 Ethiopian birr the repayment of loan may only be proved in writing or by a confession made or an oath taken in court.
In a contract of loan the parties can agree to the terms of loan. But can parties stipulate provisions stating if the debtor fails to pay the loan within the time specified that he had to pay double/twice of the original loan money?
If your goal is to effectively manage your credit process and make it a part of your organization's success, developing a credit policy should be the top of your list.
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