I. What is legal service of debt collection when debtors are foreign enterprises?
Legal service of debt collection when debtors are foreign enterprises is the legal service provided by law firms to clients who are Vietnamese enterprises wishing to collect debts that debtors are enterprises whose headquarter, address is allocated abroad.
II. What are the differences between legal service of debt collection when debtors are foreign enterprises and other common legal services of debt collection?
When debtors are foreign enterprises, the debt collection of Vietnamese enterprises will meet many difficulties in clarifying the address, legal capacity of debtors; languages barrier; the parties choose the competent authority to settle dispute abroad; initiating a lawsuit in another country cost a lot of money.
To fix these difficulties, Vietnamese enterprises can authorize Vietnamese law firms to find and work with debt collection companies, law firms in the country where the debtor has headquarters address. The discussion, looking for information of the debtor between Vietnamese law firms and foreign law firms can be implemented faster and more effectively than Vietnamese enterprises work with foreign law firms by themselves. Moreover, currently, some Vietnamese law firms have a cooperation network with foreign law firms. Therefore, clients do not need to find suitable a foreign debt collection company or law firm by itself.
III. What do Clients need to prepare before working with TNTP?
Before working with TNTP, Clients need to prepare the following information, documents:
- Documents related to setting up commercial transactions: Contracts, Agreements, Commitments, discussion messages, e-mails, …;
- Documents related to transaction execution: Minutes of delivery and receipt, Value Added Invoices, Reconciliation debts, Minutes of goods distribution, …;
- Other documents related to the debt (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 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 of debt collection when debtors are foreign enterprises
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, …
- Contacting the debtor directly or by phone, messages, e-mails to request the debtor to pay the Debt for the Client.
- Searching, authorizing foreign debt collection company or law firm to find information of the debtor, directly work with the debtor under the Client’s request.
- By itself or through a foreign debt collection company, law firm to attend meetings with the debtor to agree on the Debt payment schedule.
- Supervising debt collection of foreign debt collection companies, law firms and reporting progress and results to Clients.
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.