Debt collection services
from TNTP & Associates International Law Firm
TNTP will perform debt collection services as an authorized representative, assisting in the recovery of debts from the Debtor to the Creditor (“Client”). Accordingly, TNTP represents the Client to request the Debtor to pay money or property upon expiration or overdue that the Debtor must pay to the Client according to the agreement and contract. TNTP is currently a business partner of the many global debt collection agency as Sino Credit Management (HK) Ltd, SM Credit Information Co., Ltd, Credit reform (UK) Limited, Upper Class Collections, Qingdao Seadaka Internet Technology Company Ltd… for collecting the debt in Vietnam.
Conscientious
After signing the legal service contract, TNTP will quickly implement debt recovery and regularly report the progress of the case and the next action plan to the Client.
Effective
Depending on the actual situation of the Debtor, TNTP will flexibly apply appropriate measures to quickly recover the debt.
Legal compliance
TNTP ensures that all procedures, orders, and actions for debt recovery are in accordance with law.
Confidentiality Commitment
TNTP commits to maximum confidentiality of the information that TNTP has received from the Client as well as the information that TNTP collects related to the debt collection of the Client.
Debt recovery field implemented by TNTP
Applying temporary emergency measures while the debtor undergoes bankruptcy proceedings
In the current market economy, it is not uncommon for a business to initiate bankruptcy proceedings when they are unable to repay the debts. When a debtor falls into bankruptcy, the rights of creditors are often threatened. To protect these rights, Vietnamese law...
The steps for debt recovery in the field of construction
To complete a construction project, businesses need to ensure a large, stable and long-term capital. However, during project implementation, many problems arise that can affect capital flows, the most basic of which can be anticipated is the rising debts. The question...
Why does the business not want to settle overdue debts with its partners?
Incurring debt in business activities is normal for businesses. However, for many different reasons, debtors often want to extend the debt to get the greatest benefit. In this article, TNTP's lawyer will give an opinion on the reasons why the business does not want to...
Clients have been using TNTP’s debt collection services
FECON Joint Stock Company
FECON Joint Stock Company (“FECON”) is a company operating in construction, which focuses on foundation engineering and underground construction. FECON was established on June 18, 2004, and has been providing many projects, typically Hoa Phat – Dung Quat Project (Quang Ngai) Phase 2, Thai Hoa Wind Power Plant, LOTTE Mart Project Vinh city, etc. FECON has signed a debt collection legal service contract with TNTP, mainly for debt recovery in the construction sector.
Yuen Foong Yu Paper Company
Yuen Foong Yu Paper Company (“YFY”) is a company of Taiwan Yuen Foong Yu Group, specializing in the supply of carton packaging. Established in 2004, YFY has 7 factories in Vietnam, widely distributed in the provinces: Long An, Dong Nai, Binh Duong, Thai Binh, Thanh Hoa, and Ha Nam. YFY has signed a debt collection legal service contract with TNTP, mainly for debt recovery in commercial activities.
Upper Class Collections Company Limited
Upper Class Collections Company Limited (“UCC”) is a company specializing in providing debt collection services for companies, as well as state authorities. The company was established in 2006 in Perth – a city in Western Australia. In 2014, UCC became a shareholder of TCM international network. Currently, UCC is operating in Australia, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Vietnam, etc. UCC has signed a debt collection legal service contract with TNTP, mainly for debt recovery in commercial, civil, and financial fields.
Some of the work that TNTP is doing to recover debts
1. Negotiate with the Debtor
2. Work with tax authorities
3. Sue the Debtor
4. Enforce the legally effective judgment/decision/arbitral award
TNTP contacts the Debtor directly by phone, text message, or email to request the Debtor to pay the Debts to the Client; send a Letter of Demand for payment (LOD) to the Debtor requesting the Debtor to pay the Debts to the Client.
In case the negotiation is unsuccessful and the lawsuit is judged feasible, TNTP can assist the Client to perform legal proceedings in Competent Court/ Competent Arbitration.
Assist the Client in the process of enforcing the legally effective judgment / decision / arbitral award of the Competent Court / Competent Arbitration
TNTP’s commitment to legal services
Throughout the process of providing legal services, TNTP commits to support the Client and perform the work in the fastest, most timely, and effective way, regularly reporting the progress of the case as well as giving the next action plan so that the Client can monitor and evaluate work results easily.
With a constant effort to improve services and a growing vision, TNTP believes that Clients will have the best experience with the services provided by TNTP.
Pricing
|
Levels
|
Principal Debt
|
Negotiate with the Debtor
|
Litigation in a competent Court/ Arbitration |
Support to enforce Judgments/Decisions of a competent Court/ Arbitration |
|
Level 1 |
Up to VND 300,000,000 |
Non-refundable retainer of VND 15,000,000 and successful fee of 27% of any collected amount |
Not applicable due to the small debt |
Not applicable due to the small debt |
|
Level 2 |
Above VND 300,000,000 to VND 1,000,000,000
|
Non-refundable retainer of VND 15,000,000 and successful fee of 23% of any collected amount |
Non-refundable retainer of VND 80,000,000 and successful fee of 23% of any collected amount |
Non-refundable retainer of VND 35,000,000 and successful fee of 23% of any collected amount |
|
Level 3 |
Above VND 1,000,000,000 to VND 3,000,000,000
|
Non-refundable retainer of VND 15,000,000 and successful fee of 20% of any collected amount |
Non-refundable retainer of VND 80,000,000 and successful fee of 20% of any collected amount |
Non-refundable retainer of VND 35,000,000 and successful fee of 20% of any collected amount |
|
Level 4 |
Above VND 1,000,000,000 to VND 3,000,000,000
|
Non-refundable retainer of VND 15,000,000 and successful fee of 18% of any collected amount |
Non-refundable retainer of VND 80,000,000 and successful fee of 18% of any collected amount |
Non-refundable retainer of VND 35,000,000 and successful fee of 18% of any collected amount |
|
Level 5 |
Larger than VND 6,000,000,000 |
Non-refundable retainer of VND 15,000,000 and successful fee of 15% of any collected amount |
Non-refundable retainer of VND 80,000,000 and successful fee of 15% of any collected amount |
Non-refundable retainer of VND 35,000,000 and successful fee of 15% of any collected amount |
Please note that the service fee for this work does not include Value Added Tax (VAT) and any additional costs. Clients must pay any additional fees such as court fees, arbitration fees, enforcement fees, and legitimate expenses as prescribed by law (if applicable).
In case Clients have multiple debt recovery cases, please contact TNTP for another quote.
Please take note that based on each scenario, the service fees may change.
Frequently asked questions in the debt collection process
Question 1: What fees will Clients have to pay when signing a debt collection legal service contract with TNTP?
Service charges do not include value-added tax (VAT is applied according to the State’s regulations at the time of VAT invoice issued by TNTP) and reasonably incurred costs including but not limited to court fees, arbitration fees, notary fees, translation fees, and other state expenses as prescribed by law, travel expenses (taxi and car rental), long-distance phone fees, document fax fees, postage stamps, photocopying fees, vehicle fees per kilometer, parking fees and document delivery fees in the process of providing legal services to clients by TNTP.
Question 2: What documents do Clients need to prepare before working with TNTP?
• Purchase and sale contract, service contract, documents proving the debt to be recovered, or other documents that are the basis of the disputed relationship;
• Information about the Debtor, the Creditor;
• Relevant documents in the process of making transactions and payments;
• Documents, emails, and messages exchanged between the Debtor, the Creditor during and after the transaction; and
• Other relevant documents (if any).
Question 3: How does the process of self-created experiments receive and process information?
• Step 1: Based on the information and documents provided by the Client as well as the discussion with the Client, TNTP’s lawyer will research the file and give some initial consultancy.
• Step 2: After that, TNTP will send a Quotation with a specific implementation plan to the Client for the Client to consider signing a legal service contract with TNTP.
• Step 3: In case the Client agrees with the Quotation, TNTP will send the Legal Service Contract to the Client. The Parties will sign the Contract and the Client will pay the service charges to TNTP (if any).
• Step 4: After signing the contract and receiving the service fee (in case of a fixed service fee), TNTP will perform the work according to the Contract.
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