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| What are the procedures for the debt collection service? | |||||
| 1. Requesting debt collection - Submit (by mailing or in-person visit) a request for foreign debt collection and debt documentations (proof) 2. Receiving the notification of delegation approval - The public corporation reviews the documents, including a request for collection and an application form, and mails out a notification for delegation approval 3. Proceeding with the collection work for a foreign debtor (non-U.S.) - The collection activities involve the public corporation, foreign network, export insurance institution and debt collection institution. - The creditor will be consulted in advance to proceed with any legal procedures other than common collection procedures, if necessary - Check for the debt collection progress: online check or written notification, if necessary 4. Recovering debt - Recovered money will be deposited less fees (calculated based on actual recovered amount) to the creditor¡¯s account. - Fee rates are written in the notification of approval. 5. Closing the debt collection - The debt is fully recovered, or an additional recovery is not feasible after partial recovery. - Debt collection failed or is not feasible |
