The Claims Review - Issue 20, May 2009 - Debt collection special

INTERNATIONAL DEBT COLLECTION - ITIC’s Members often provide services to foreign companies who are sometimes totally unknown to them. When left with a debt from such a company, obtaining payment can be extremely difficult, particularly in the current economic climate. An optional benefit that ITIC offers to its Members is a comprehensive debt collection cover. ITIC’s staff has many years’ experience in the field of international debt collection and will take over the collection of the debt and insure the costs of attempting to collect sums owed to you. Since 1992 ITIC has recovered nearly USD 100 million for its Members. As with professional indemnity insurance, ITIC’s debt collection cover is only part of the answer. There is much that you can do to avoid debts arising in the first instance. In this edition of the Claims Review, we hope to demonstrate what ITIC does to assist you and what you can do to help yourselves.

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