Have you ever struggled to collect debts from customers located in a foreign country? If so, you know how frustrating it can be, especially when you don’t know the laws and regulations of that particular country.
But don’t worry! Intercol has been providing international debt collection services for the last 25 years and we’re here to help. We specialise in collecting debts in the United Arab Emirates (UAE) and are familiar with the unique laws governing debt collection in this region.
Here is why you should use our services: we understand what it takes to successfully collect debts. Our experienced debt collectors have developed strategies to effectively process cases quickly and efficiently. We at Intercol will provide advising on how to approach cases, as well as guidance on UAE debt collection laws. In this blog post, we will discuss the steps our debt collectors will take to help you recover your unpaid accounts in UAE and give a few facts of this amazing country.
Understanding Debt Collection Laws in the United Arab Emirates
You might be wondering, what exactly are the debt collection laws in the United Arab Emirates (UAE)? Debt collection in the UAE is regulated by legislation that stipulates that Collection Agencies should provide debtors with certain information at the outset of communications. This includes information about the debt, payment terms and the interest rates on any accrued interest.
Additionally, Collection Agencies are required to comply with laws that prevent harassment of debtors. This means that Collection Agencies must adhere to a set of guidelines when communicating with debtors about outstanding debts. These guidelines include limiting contact with a debtor to once per day and notifying them in writing before contacting them directly. Furthermore, Collection Agencies are expected to comply with any applicable cultural protocols of the region, such as avoiding communication during major religious holidays or other calls for observance.
Steps for Using Intercol's International Business Debt Collection Agency
Are you looking for a way to collect your debts from business partners in the United Arab Emirates? With the help of Intercol’s international debt collection agency, you can rest assured that your outstanding money is recovered and that you can get the debtors to pay their dues. Here are a few steps taken by our debt collectors to ensure a successful recovery of your money:
- Researching debtor information: Our experienced international law experts will retrieve all necessary information on the debtor, including contact information, locations and current employment status.
- Create a strategy tailored to you: We will create a customised strategy tailored to both the debtor’s financial capabilities and our clients’ wishes.
- Initiate legal procedures:: We will initiate legal proceedings when necessary, ensuring all documentation is accurate and legal requirements are met.
- Negotiate payment terms: Our team of experts will negotiate payment terms with debtors in order to reach mutual agreements that benefit both parties.
- Follow up regularly: We make sure that we follow up with our clients on a regular basis in order to ensure timely payments from debtors.
With 25 years of experience in debt collection services, Intercol is well equipped with the skills, knowledge and expertise to help you recover what is due to you. So take action as soon as possible and use us for professional international business debt collection!
Five Economic Facts About the UAE
The United Arab Emirates (UAE) is a prime example of how a resource-rich country can use its advantages wisely. With its significant oil reserves, the UAE is one of the most prosperous countries in the world. Here are five economic facts about the UAE:
- The UAE is one of the world’s leading energy exporters, with an average of 2.3 million barrels per day exported in 2019.
- It has the highest Gross Domestic Product (GDP) per capita in the world, at $67,383 USD in 2020.
- It has one of the highest human development indices in the region, with a score of 0.892 in 2019 — higher than that of Malaysia and Argentina!
- It is ranked as having one of the most sophisticated banking and financial markets in MENA region and ranked 1st for having fully electronic payment systems in 2020.
- Its economy is not just based on oil production — other industries like finance, tourism, and logistics are also major contributors to GDP growth!
At Intercol, we understand that collecting debt from businesses located here can be complicated due to all these factors — which is why we work hard to provide our services with all necessary legal documents and regulations required for international commercial debt collection activities in United Arab Emirates and abroad. Let us be your guide as you work to collect your overdue debts from commercial partners located here!
Five Historical Facts About the UAE
You may know the basic facts about the UAE, but you might not know these five historical facts that provide insight into its rich and diverse culture:
- The UAE was formed in 1971, combining seven different states.
- The Trucial States of the 1820 Treaty of Maritime Peace in Perpetuity provided protection to the coastal areas by Britain and led to the formation of the UAE.
- During the 16th century, parts of what is now known as United Arab Emirates were part of the Ottoman Empire.
- The earliest known inhabitants of UAE date back to 4000 BC, with evidence suggesting they used fishing and hunting to sustain their livelihoods.
- Before oil was discovered in Abu Dhabi in 1958, pearl diving was one of the most important economic activities across much of the country's coastline.
As you can see, there is a deep and fascinating history behind this unique region in which Intercol has long been established as a reliable debt collection agency for international business debt collection from UAE.
Why You Should Select Intercol for Your International Debt Recovery Needs
What makes Intercol stand out from the competition? Our debt collectors have worked for over 25 years in international debt collection and negotiation, and they know the ins and outs of collecting debts in the United Arab Emirates. We are familiar with local laws, regulations, customs and culture, so you can rest assured that your interests are protected.
Moreover, our experienced staff stays up-to-date on local U.A.E laws regarding debtor rights and responsibilities to ensure that all collections are properly managed without unnecessary risks or delays.
We take an integrated approach to international debt collection by:
- Drawing up an efficient collection strategy based on your unique needs
- Assigning a dedicated account manager to ensure successful debt recoveries
- Utilising in-house legal services for complex debt collection matters when necessary
- Leveraging our extensive network of proven debt collection partners globally
- Applying digital tools to effectively monitor debtors’ payment activity
- Using innovative strategies tailored to U.A.E’s impressive economic growth
With Intercol as your selected debt collection agency, you can be sure that our team of highly qualified professionals will make all necessary steps to help you successfully recover what is rightfully yours from any part of the world, especially from United Arab Emirates, quickly and easily!
Conclusion
In conclusion, our professional debt collection agency Intercol has decades of experience in helping our clients all around the world recover their unpaid debts. We understand the United Arab Emirates laws and regulations to make sure the debt collection process goes smoothly. We offer quick and efficient solutions to handle any debt situation and will resolve the situation quickly with our best practises. With our experienced team, you can rest assured that your debts will be collected successfully and efficiently.