Vol 19 (2022) - Issue 6

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Pursuing International Business Debts

Synopsis
It can be difficult to recover a business debt from a debtor based overseas, bearing in mind the debtor is in a different time zone and has different laws and customs to adhere to. Cultural issues also come into play when pursuing international business debts.
For example, in the UK, late payment is an ongoing and increasingly problematic issue for many businesses, whereas other countries take a much timelier approach when paying debts because incurring debt can be seen as something more shameful.
This article provides top tips for creditors trying to recover a business debt from a debtor based overseas.