I. Types of debts often arise in the construction sector
In the construction sector, debts mainly arise in case:
- The contractor has completed the construction or has inspected but the investor has not paid as commitment in the contract and the parties’ agreement; or
- The subcontractor has completed the construction, the investor has completed the payment but the main contractor has not paid the value of the pre-acceptance inspection to the subcontractor.
In addition, debts may arise in case the supplier of building materials has delivered but the buyer does not pay the money as the signed contract.
II. Who are TNTP’s Clients in collecting debts in the construction sector?
In the construction sector, TNTP’s Clients include the following subjects:
- Land & Citi & Building Investor;
- Main contractor or General contractor;
- Subcontractor;
- Supplier of building construction materials.
III. What do Clients need to prepare before working with TNTP?
Clients wishing to collect debt in the construction sector need to prepare the following information, documents before working with TNTP:
- Construction contract; or Building materials purchase and sale contract;
- Documents related to the process of contract performance between the parties such as Minutes of handing over of building materials, Minutes of pre-acceptance inspection, Reconciliation of debts, Bank statements of payments made by the investor corresponding to construction progress, …;
- Discussion documents, messages between the parties, Payment request of pre-acceptance inspection, …;
- Other relevant documents (if any).
IV. How does TNTP receive and process information?
When Clients contact TNTP, TNTP’s Lawyers will receive and process information as follows:
- Step 1: Based on the information, documents provided by Clients as well as discussions with Clients, Lawyers of TNTP will research the case and give some initial consultation.
- Step 2: Then, TNTP will send a Quotation attached to a detailed implementation Plan to Clients so that Clients can consider signing Legal Service Agreement with TNTP.
- Step 3: In case Clients agree with the Quotation, TNTP will send a Legal Service Agreement to Clients. The Parties will sign Agreement and Clients will pay legal services fee to TNTP (if any).
Kindly be noted that the legal service fees of TNTP are exclusive of Value Added Tax, court fees, arbitration fees, fees according to state regulations, travel expenses for lawyers, translation, photocopying, notarization, and authentication fees, long-distance telephone, postage charges, and other reasonably incurred expenses. In case the above-mentioned expenses are incurred, TNTP will propose opinions to Clients and TNTP will only perform the work if Clients agree to pay reasonably incurred expenses.
After signing the Agreement and receive service fees (in case there is a fixed service fee), TNTP will perform works according to the Quotation and the implementation Plan that Clients has agreed.
V. Works that TNTP will implement when providing legal service over debt collection
Normally, works that TNTP will implement when collecting debts include:
- Searching for information about the debtor: name, tax code, legal representative, actual operation address, operation, and business status, …
- Contact the debtor directly or by phone, messages, e-mails to request the debtor to pay the Debt for the Client.
- Send a Letter of Demand (LOD) to the debtor to request the debtor to pay the Debt for the Client.
- Representing the Client to attend meetings with the debtor to agree on the payment schedule and the settlement plan of the debt.
- Searching for legal violations of the debtor and sending a Denunciation to the competent authority about violations in case the debtor evades, does not pay the Debt to the Client.
- Proceed to initiate a lawsuit to collect the Debt in case TNTP considers that the lawsuit is feasible and the Client agrees with the lawsuit plan.
VI. TNTP’s commitment to legal service
With the attitude of protecting the legal rights and interests of the Client, TNTP has been and will try to bring Clients trust and comfort when using TNTP’s legal services.
Throughout the process of providing legal services, TNTP commits to support Clients and perform the work in the fastest, most timely and effective way, regularly report the progress of the case as well as give the next plan so that Clients can easily monitor and evaluate the work results.
