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In Dubai, the legal procedures for retrieving the debts are well controlled. Debt recovery is a mechanism by which the debtor pursues outstanding interest.
Running a business in the United Arab Emirates (UAE), especially in Dubai, is a great way to make a living. But it’s not without its risks and challenges. One of those challenges is debt collection—collecting the money owed to you by your clients, customers, and partners. It’s essential that you have an effective strategy in place to ensure that you get paid on time.
A debt is a financial obligation against a provided contract, commodity, loan or any other responsibility that has a benefit of money on a person or organization.
The UAE oil crisis triggered job cuts and a decline in the tourism industry in 2016. Significantly, the Persian Gulf nation has seen a rise in its customer bad debts
